Finance Wales announces record investment performance
in 2010 – 11 and appoints new Group Portfolio
Director
12/07/2011
Welsh Government subsidiary, Finance Wales
invested a record £39 million in Welsh businesses in the financial
year 2010 - 11, once again exceeding its annual investment
target.
The company made 199 equity and debt
investments during the year taking the total number of investments
it has made since 2001 to more than 2600. Finance Wales has
now invested over £197 million in small and medium-sized businesses
in Wales, leveraging an additional £390 million investment.
Finance Wales can provide investment ranging
from micro loans to larger investments of up to £2 million per
investment round for small and medium-sized businesses.
“2010 -11 proved to be another record year for
Finance Wales as we invested £39 million in Welsh businesses which
means our annual investment level has now increased for the fifth
consecutive year. I’m pleased we’re continuing to play an important
role in helping Welsh businesses achieve their growth ambitions in
such a difficult funding climate,” explained CEO, Sian Lloyd
Jones.
“We made a large number of new investments in
the year and we also continued to invest in businesses in our
existing portfolio, which highlights the importance of follow-on
funding for growing businesses.”
Finance Wales has also appointed Bill Anthony
as its new Group Portfolio Director to bring a greater focus to
this aspect of its investment activities as its portfolio continues
to expand.
Anthony, a former Head of the Smaller Minority
Investment Team at 3i, brings a wealth of portfolio management
experience and knowledge of funding small and medium-sized
businesses. He will join Finance Wales as a member of its Executive
Management Team.
Lloyd Jones believes that Anthony brings
significant key skills and experience to Finance Wales at an
important time in the company’s development and its plans for
future fundraisings:
“We’ve invested over £197 million since 2001
and our portfolio is growing. This is an important new appointment
for us and I’m pleased to welcome Bill on board. He has a wealth of
experience of investing in small and medium-sized businesses,
optimising investment portfolios and driving exits.”
Anthony started his career in the late 1980s
at HSBC before joining leading UK venture capital company, 3i Group
in 1996 as an investment manager and subsequently becoming Head of
the Smaller Minority Investment Team.
Commenting on his appointment, Anthony said:
“Finance Wales is one of the largest and most successful fund
managers of its type in the UK today with an interesting and
diverse portfolio. My appointment acknowledges how the company has
grown and I’m looking forward to building strong relationships with
our portfolio of Welsh businesses to maximise the benefits of our
investments.”
Ian Johnson, Finance Wales’ Chairman welcomed
Anthony’s appointment: "Bill has a great deal of experience and is
a welcome addition to our strong, commercially-focused team.
I believe he’ll play a key role in Finance Wales’ future
success.”
For more information, please contact:
Helen Walker-Smith
Tel: 029 2033 8149
E-mail: helen.walker-smith@financewales,co.uk