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Record year sees Finance Wales Group increase its impact on the Welsh economy

The Finance Wales Group invested a record £50 million for the first time in the 2013 – 14 financial year – £5 million up on the previous year.   

Combined investments by Finance Wales and xénos topped £35 million in the 2013 – 14 financial year, attracting over £26.5 million additional investment to provide Welsh SMEs with £62 million of growth capital.

Finance Wales invested over £33 million - up from £31 million in 2012 – 13 - while investments facilitated by xénos, the Wales Business Angel Network increased from £2.2 to £2.35 million. 

Investment levels at the Group’s FW Capital subsidiary rose for the fourth consecutive year to exceed £15.5 million – a £3.5 million increase on the previous year.

Ian Johnson, Finance Wales’ Chairman welcomed Finance Wales’ and xénos’ increased impact on the Welsh economy: “While business confidence is stronger than it has been for some time, overall economic conditions remain challenging. I’m pleased Finance Wales’ investment levels continued to rise in 2013 – 14 as this clearly demonstrates Welsh SMEs’ commitment and determination to succeed, which is excellent news for the Welsh economy.

“Our investments play an important role in helping Welsh businesses create and safeguard jobs.  They also attract additional investment to Wales and impact the economy in a number of other ways, such as creating opportunities for local suppliers,   and encouraging businesses to invest in research and development.  As business confidence returns, I hope more Welsh SMEs will be inspired to invest for growth.”

Group Investment Director, Mike Owen added: “With the range of funds we now manage, we can invest in more Welsh SMEs than ever before and can also tailor our investments for a wider range of short and long-term funding needs.  The funding and expertise we can offer is also attracting businesses to Wales and in 2013 -14 four young technology businesses moved to Wales to take advantage of investment from Finance Wales.”

Commenting on the Group’s record performance, Ian Johnson said: “The Finance Wales Group is a pioneering Welsh company that has grown into a key Welsh financial institution since it was established in 2001.  Finance Wales’, FW Capital’s and xénos’ investment levels all rose in the 2013 – 14 financial year.  SMEs continue to play a significant role in driving UK economic growth and we’re delighted to have invested over £50 million in the 2013 – 14 financial year.  This is a significant milestone for us.” 

Since 2001, Welsh SMEs have benefitted from £289 million of investment from Finance Wales.  These investments have also leveraged additional investment totalling £463 million, taking its total impact on the Welsh economy to £752 million.  With Finance Wales’ backing, Welsh SMEs have created or safeguarded 35,589 jobs in Wales.

Highlights for 2013 – 14 financial year

Finance Wales Group

  • Record £50 million invested

Finance Wales

  • £33.1 million invested
  • 205 investments
  • £25.6 million additional investment leveraged
  • 3 exits/investment realisations
  • 4 young technology businesses attracted to Wales

xénos, the Wales Business Angel Network

  • £2.35 million business angel investment facilitated
  • 17 investments
  • £954,000 additional investment leveraged

FW Capital

  • £15.5 million invested
  • 70 investments
  • £14.3 million additional investment leveraged
  • 1 exit/investment realisation