Development Bank of Wales Leads UK Investor Table in First Quarter of 2026

The Development Bank of Wales has led the UK investor table for the first quarter of 2026 after completing more transactions as a capital provider than any other investor during the period, according to Experian’s latest MarketIQ M&A Review.

The review ranked the Development Bank of Wales first among all UK capital providers by transaction volume and highlighted its role in Welsh funding activity, with participation in eight transactions with a minimum deal value of £500,000 during the quarter.

Adam Price, Cabinet Minister for Enterprise, Connectivity and Energy, welcomed the news.

“An important part of our missions to half the productivity gap with UK is to make Wales the easiest place in the UK to start, grow and invest in a business. Access to investment is vital to achieving that.

“The Development Bank of Wales continues to play a vital role in strengthening investment across our economy. At a time when markets remain selective, it is encouraging to see the Bank recognised as one of the most active investors in the UK by deal volume, and continuing to support a wide range of businesses.”

Experian’s analysis points to growing levels of investment activity across Wales, with increases in both venture capital and debt funding helping businesses access finance despite continued economic uncertainty.

Private equity and venture capital activity in Wales increased to 22 transactions in Q1 2026, compared with 16 transactions in the first quarter of 2025, while debt-funded deals rose to 10 from seven. The report describes Wales as having a broad-based and increasingly balanced funding landscape, supported by sectoral diversity and sustained investor confidence.

Since launching in 2017, the Development Bank has invested more than £1.1 billion into over 4,500 Welsh businesses, supporting more than 55,000 jobs and leveraging over £680 million of additional private sector co-investment.

In total, 191 Welsh businesses benefited from over £41.5 million during the first quarter of 2026. These included backing for employee-owned transport and logistics business Lloyd & Gravell as employees took ownership of the company through an Employee Ownership Trust; a £700,000 investment in Cardiff-based prop-tech business openmoove to support growth and create six jobs; and a £2.83 million property investment supporting the continued development of Orchard Business Park in the Vale of Glamorgan.

The report also highlights several significant Welsh transactions completed during the quarter, including a strategic investment in Avantis Group. The Development Bank of Wales previously supported the original management buyout of the business, helping to provide the foundations for its subsequent growth and expansion.

Rhian Elston, Group Investment Director at the Development Bank of Wales, said:

“Being recognised as the most active investor in the UK by deal volume is a significant achievement, but what matters most is what that activity represents for Welsh businesses and the wider economy.

“The Experian report highlights a positive picture for Wales, with increasing levels of venture capital, private equity and debt finance being deployed across the country. That points to a funding ecosystem that is becoming stronger, more diverse and better equipped to support business growth.

“Our role is to provide flexible, patient capital while working alongside banks, private investors, advisers and other partners to increase the overall supply of finance available to Welsh businesses. By combining public purpose with commercial discipline, we can help businesses scale, innovate and retain value in Wales.

“Many of the businesses we support go on to attract further investment as they grow. Avantis Group is a strong example of that journey. We were proud to support the original management buy-out and it is encouraging to see the business continue to attract investment and expand into new markets.

“As a trusted delivery partner, our focus remains on helping businesses start, grow and scale while building a stronger, more productive Welsh economy. That means supporting innovation, creating jobs, encouraging Welsh ownership and ensuring businesses across all parts of Wales can access the finance they need to succeed.”

Read the full announcement from the Development Bank of Wales here.