Wales Last in Venture Capital League

Western Mail (Cardiff, Wales), August 3, 2006 | Go to article overview

Wales Last in Venture Capital League


Byline: By SION BARRY Western Mail

The amount of venture capital backing in Welsh companies represents only 1% of the total funds invested UK-wide, new figures show. Research from Library House - the high-growth private company research house - shows that 1,437 companies in the UK have received some pounds 6.6bn in disclosed capital from venture capital sources.

The research - Beyond the chasm: The venture-back report - UK 2006, was commissioned by UBS Wealth Management and represents the first analysis of venture capital investment levels throughout the UK.

In Wales it shows that investment into firms - which have been prepared to give up equity in return for growth finance - totals some pounds 88m, representing 1% of the UK total.

Only Northern Ireland and the North East of England equal Wales in having the lowest percentage share of the UK's venture capital pot.

London as a region has the highest percentage of the venture capital market, with 36% of the UK total figure - representing pounds 21.bn invested in 380 firms.

Based on the number of venture capital-backed firms per million head of population, Wales' position is more positive.

The research shows it having 16.5 companies on this measure, which is higher than Yorkshire and Humberside, the South West, the East Midlands and the North East.

Scotland tops the per million head of population table with 54 companies, followed by London with 52.9 and the South East at 32.7.

The current combined venture capital investment in Scottish companies [142] is pounds 453m.

Jens Lapinksi, an analyst with Library House, said that of the 48 companies in receipt of venture capital funding in Wales, the average equity round is between two and three. …

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