Equity Investment in Wales

In partnership with the Development Bank of Wales, we revisit the Welsh equity investment landscape—exploring top sectors, investors, and succession deals.

Key findings

  • Wales is home to 1,583 high-growth businesses, accounting for approximately 3.5% of the UK’s high-growth population. In 2022, these companies secured £109m in equity investment via 125 deals.
  • The Development Bank of Wales continues to be the biggest equity investor in Welsh businesses—participating in 350 deals across the high-growth ecosystem between 2013 and 2022.
  • Welsh high-growth companies secured £990m in equity funding between 2013 and 2022, and completed over 1,000 equity deals.
  • Software-as-a-service (SaaS) ranks as the top sector based on the number of equity fundraising deals in Welsh high-growth companies over the last decade.

Inside the report

Equity Investment in Wales report cover
Wales Equity Investment report - page preview
Wales Equity Investment report - page preview

About the authors


Henry leads our Research & Consultancy team, and is an expert on equity finance and high-growth business. He's worked on briefs for the likes of Barclays, SyndicateRoom, Innovate UK, Smith & Williamson and British Business Bank. He regularly gives presentations on market trends at events around the UK.

Dan Robinson


Daniel conducts data manipulation and analysis as part of the Research & Consultancy team. He has a background in business analysis and commercial copywriting in Australia and the UK, having worked at The Sunday Times Fast Track, Oxford University Press, and advertising network MullenLowe Group.


Freya performs graphic design and data visualisation in the Research & Consultancy team. She has worked on projects for clients including Barclays, EY and JP Morgan. Freya holds a BA in History (International) from the University of Leeds, which included a year at Fudan University in Shanghai.

Advone Katsande


Advone writes copy, and performs data analysis and visualisation. She has written on the nature of Venture Capital Trusts, and worked on projects for Rawnet and Deloitte. She read Law at the University of East Anglia, where she acquired her undergraduate LLB.

Blanca Valencia

Blanca handles data analysis and visualisation, as well as copywriting. Prior to joining Beauhurst, Blanca graduated from Queen Mary University of London, where she was awarded a BSc in Computer Science with Management (ITMB).

Ethan Yip

Ethan carries out data analysis and visualisation. Before joining Beauhurst, Ethan graduated from the University of Bath, where he was awarded the degree of Master of Chemistry (MChem) and spent a year studying at the National University of Singapore.

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