Development Bank of Wales delivers record £152m to support jobs and growth across the country
Development Bank of Wales delivers record £152m to support jobs and growth across the country
The Development Bank of Wales invested a record £152 million in debt and equity funding during the 2024/25 financial year, backing over 500 businesses and helping to create or safeguard more than 6,000 jobs across the country.
New figures released today (Wednesday, 28 May 2025) show that 502 businesses benefited from the support between April 2024 and March 2025, with 82% classed as microbusinesses. The investment brings the total support provided by the bank since its inception in 2017 to £958 million.
With £2 billion in funds under management and a growing customer base of more than 3,600 small businesses, the publicly owned lender says it is playing a vital role in fostering entrepreneurship and supporting Wales’ economic ambitions.
Key highlights from the 2024/25 financial year include:
- Private sector co-investment rising from £50.1 million to £64 million
- A 26% increase in property sector funding, reaching £48 million
- Five successful exits delivering returns of £7.4 million
- A rise in average deal size to £272,000, up from £255,000 last year
£7.9 million invested in 28 businesses via the British Business Bank’s Investment Fund for Wales, managed by FW Capital, leveraging an additional £1.1 million from the private sector and supporting 577 jobs
Rebecca Evans, Wales’ Cabinet Secretary for Economy, Energy and Planning, praised the Development Bank’s continued impact.
She said: “The Development Bank is a unique resource for Wales – promoting innovation, increasing prosperity, and supporting the transition to a sustainable economy.
“These impressive results show that it’s delivering real value by making it easier for businesses to secure the finance they need to grow.”
Sally Bridgeland FIA, who took over as Chair of the Development Bank in September 2024, said that facilitating access to capital remains fundamental to economic resilience.
She said: “Boosting growth and unlocking investment by increasing the supply of debt and equity finance for SMEs underpins the long-term sustainability of any economy.
“Together, we’re proud of what’s been achieved and our role in supporting the aspirations of the Welsh Government and people of Wales.”
Chief Executive Giles Thorley said demand for funding across Wales remained strong throughout the year.
“2024/25 has been a positive year with more funding for more businesses than ever before,” he said.
“The Investment Fund for Wales has played a particularly strong role in supporting innovation and job creation. We’re especially proud of our ability to support sectors with high growth potential—from tourism to life sciences—ensuring businesses can scale up, embrace new technologies, and generate employment.”
The Development Bank of Wales supports a wide range of sectors and offers finance tailored to the needs of small and growing companies, including those aligned with Wales’ low-carbon transition and housing goals. A full analysis of its financial performance will be published in its annual report later this year.
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