New Report Highlights Growing Impact of £130m Investment Fund for Wales

An independent evaluation highlights how the Investment Fund for Wales is improving access to finance, supporting business growth and attracting private investment across Wales.

The Investment Fund for Wales has invested more than £34 million across 128 deals as of June 2026, with a new independent evaluation highlighting its role in improving access to finance and supporting business growth across Wales.

The findings, published by the British Business Bank and undertaken by independent research company SQW Ltd, suggest the fund is helping smaller businesses secure investment, innovate and scale, while also attracting additional private sector finance into the Welsh economy.

Supporting Access to Finance Across Wales

Launched in November 2023, the £130 million Investment Fund for Wales was established to address regional funding gaps and increase the availability of finance for smaller businesses.

By September 2025, the fund had provided £18.2 million through 85 investments to 79 Welsh SMEs. The latest figures show that this has since increased to more than £34 million across 128 deals.

The independent evaluation found evidence that the programme is supporting businesses that may otherwise have struggled to secure finance, alongside early improvements in productivity, innovation, workforce skills and growth.

However, the report also highlighted ongoing regional disparities. South East Wales accounted for 55% of investments as of September 2025, with improving access to finance in areas such as Mid Wales remaining an important challenge.

Creating Opportunities for Welsh Businesses

Access to investment remains an important consideration for Wales’ growing fintech and technology ecosystem, particularly for startups and scaleups looking to develop new products, expand their teams and enter new markets.

The Investment Fund for Wales offers three financing options, including smaller loans of £25,000 to £100,000, debt finance of £100,000 to £2 million and equity investment of up to £5 million.

Adam Kelly, Managing Director of Debt & Regional Funds at the British Business Bank, said:

“While still at an early stage, it is encouraging to see strong evidence that the fund is supporting businesses that might otherwise struggle to secure finance and is helping create the conditions for long-term economic growth.”

The findings form part of a wider evaluation of the British Business Bank’s £1.6 billion Nations and Regions Investment Funds programme, which supports smaller businesses across the UK.

Read more: Read the full findings from the British Business Bank.