Development Bank of Wales

Development Bank of Wales plc
Native name	Banc Datblygu Cymru ccc (Welsh)
Company type	Public limited company
Industry	Financial services
Headquarters	Wrexham, Wales, UK
Key people	Gareth Bullock (Chairman); Giles Thorley (Chief Executive);
Number of employees	275 (approximate)
Parent	Welsh Government (100%; formerly Welsh Development Agency)
Website	developmentbank.wales

The Development Bank of Wales (branded as simply Banc;

development bank that provides financial support for Welsh businesses and is owned by the Welsh Government.^[1] The bank provides loans for businesses to start up, strengthen and grow and also provides equity investments for already established businesses.^[2]

Services

The Group manages funds in excess of £1.4 billion and consists of the fund managers Development Bank of Wales and FW Capital, which invest in SMEs as well as Angels Invest Wales, a business angel network.

The Development Bank of Wales Group can make

equity investments

of up to £10 million at all stages (early stage, development capital, as well as succession and acquisition) and also structures follow-on investments for its portfolio. The Group also syndicates/co-invests.

Development Bank of Wales has four offices across Wales – Wrexham, Cardiff, Llanelli and St Asaph.

In October 2017, the Development Bank of Wales was launched replacing its predecessor Finance Wales (2001–2017).

In 2018, Economic Intelligence Wales launched as part of the Development Bank of Wales Group. A collaboration between Cardiff University, the Office of National Statistics and the Development Bank of Wales, Economic Intelligence Wales collates and analyses data to create independent, robust and reliable insight to help better understand and improve the Welsh economy.

External links

Development Bank of Wales Archived 2018-05-25 at the Wayback Machine
FW Capital
Angels Invest Wales
Economic Intelligence Wales

References

^ "Governance – Dev Bank". developmentbank.wales. Retrieved 2022-06-27.
^ "Development Bank of Wales". GOV.WALES. Retrieved 2022-06-26.

[1] "Governance – Dev Bank". developmentbank.wales. Retrieved 2022-06-27.

[2] "Development Bank of Wales". GOV.WALES. Retrieved 2022-06-26.

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