Development Bank of Wales

The Wales Business Fund, managed by the Development Bank of Wales, is a direct lending initiative focused on providing financial support to Welsh small and medium-sized enterprises (SMEs). Established in 2001, the fund primarily targets investments ranging from £50,000 to £2 million, with a particular emphasis on sectors such as commercial products, pharmaceuticals, biotechnology, healthcare devices, manufacturing, and information technology. The fund seeks to assist businesses at various stages of development, including seed, early, and growth stages. It operates from Wrexham and Cardiff, investing in companies based in Wales or those willing to relocate. The Wales Business Fund aims to stimulate economic growth by offering flexible financing solutions tailored to the needs of SMEs, including loans and micro loans for a term of one to five years. Additionally, the fund collaborates with other investors to co-finance projects and enhance the capital available for Welsh businesses.

Bethan Cousins

New Business Director

Rhian Elston

Deputy Fund Manager

Chris Griffiths

Technical Investment Director

Carl L. Griffiths

Technology Seed Fund Manager

Andrew Morris

Investor

Mike Owen

New Investments Fund Manager

Cenydd Rowlands

Property Director

Nick Stork

Fund Manager

Giles Thorley

CEO and Board Member

Past deals in Elderly

Middletons

Venture Round in 2018
Middletons is a prominent UK-based manufacturer specializing in mobility and furnishing products designed to enhance independence and quality of life. The company offers a diverse range of products, including rise and recline chairs, adjustable beds, mobility scooters, and wheelchairs. Committed to quality and customer satisfaction, Middletons designs many of its products to be made-to-measure, ensuring they fit the specific needs of each customer and their home. The company prides itself on its heritage and craftsmanship, with all products manufactured in the UK using high-quality materials. With a focus on exceptional customer service, Middletons aims to provide life-changing solutions that empower individuals to live life without limits.
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