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The Investment Fund for Wales (Gronfa Buddsoddi i Gymru) is a £130 million commitment of new funding for businesses in Wales. It is one of several investment funds for the nations of the United Kingdom and the regions of England to boost long-term growth. The others are the Northern Powerhouse Investment Fund II about which I have written extensively (see The Northern Powerhouse Investment Fund Roadshow 17 Oct 2024 NIPC Yorkshire and the articles referred to in that post), the Midlands Engine Investment Fund II, the South West Investment Fund, the Investment Fund for Scotland and the Investment Fund for Northern Ireland).
As with the other funds, the British Business Bank has made the funding available and arranged with local fund managers to distribute it in the form of smaller loans, debt finance and equity investment. BCRS lends between £25,000 and £100,000. FW Capital offers debt finance between £100,000 and £2 million. The Foresight Group invests between £2 and £5 million in companies' share capital. Both the British Business Bank and the fund managers work with other lenders and investors in Wales. Such lenders include clearing and challenger banks, business angels and venture capitalists that do business in Wales. They in turn collaborate with local accountants, business advisors, law firms, patent and trade mark attorneys and others who advise and assist startups, scale-ups and other small businesses,
Some of the activities of the fund are mentioned in its press release of 19 Nov 2024 (The Investment Fund for Wales hits £10m investment milestone as it celebrates one year anniversary). Examples of equity investment include £650,000 into the adventure tour operator EverTrek (see EverTrek 19 July 2024 on the British Business Bank website) and £850,000 into Drone Evolution by the Foresign Group (see the British Business Bank's press release of 7 Nov 2024 £850k equity investment in drone company supplying aid through Investment Fund for Wales). The press release of 19 Nov also mentions £500,000 from FW Capital for Palmers Scaffolding and BCRS's £100,000 facility for Snowdon Timber Products Ltd from BCRS.
Business owners who are unsure how to approach the British Business Bank, a fund manager or any other lender or investor could do worse than book a free appointment in person or by video link with me or some other professional through our Initial Advice and Signposting service (see An IP Clinic for M-SParc
25 Jan 2024 NIPC Wales). If funding is offered there are bound to be legal issues some of which I can resolve. Other services such as drafting shareholders' agreements and patent prosecution can be done more efficiently by commercial solicitors such as Andrea Knox or patent attorneys like Sean Thomas.
Anyone wishing to discuss this article may call me on 020 7404 5252 during UK business hours or send me a message through my contact form.
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