"Record" year for Finance Wales investment
 
Tue, 12th May 2015
 
 

"Record" year for Finance Wales investment

Welsh Government subsidiary Finance Wales has invested a "record" £48.2m in Welsh businesses during its 2014/15 financial year.

The investment house said this was a rise of 46 per cent over its previous best in 2013-14.

A total of £66.5m was invested by the Finance Wales Group, with £48.2m provided by Finance Wales, £16.1m from FW Capital, which manages funds for other organisations, and £2.2m from business angel network xénos.

During the year it completed 231 investments across 164 businesses, creating or safeguarding 2,897 jobs.

It added that the investments attracted additional investment totalling £56.2m, resulting in an injection of more than £100m into the Welsh economy.

Since it was founded in 2001, Finance Wales has support smaller Welsh businesses with £337m of investment, creating or safeguarding 38,454 jobs with an estimated £856m impact on the Welsh economy.

Chairman Ian Johnson said: "We're continuing to invest at record levels and the last financial year is Finance Wales' best yet. Our impact on the Welsh economy increased by over £100m to £856m and since 2001 our investments have helped create or safeguard more than 38,000 jobs in Wales.

 
 
category Wales  |  source Insider Media