News

24th January 2013

Finance Wales: Technology venture investments exceed 2012-13 target

Finance Wales’ technology ventures team starts 2013 ahead of target, having completed new and portfolio investments totalling £7 million so far in 2012–13.

The calibre of new investment opportunities is better than ever and their pipeline includes a number of exciting companies considering relocating to Wales to access our seed capital funds.

Many of their portfolio companies are exceeding expectations. With a number of rising stars focused on exit, they are expecting strong returns over the next two years.

With a significant number of med-tech investments in their portfolio, they plan to balance their portfolio in 2013 with more ICT and clean energy-sector investments.

Highlights

  • £7 million invested so far in 2012 – 13
  • 27 portfolio businesses
  • Diurnal start patient trials in the US
  • Medaphor recruit new chairman as part of growth plan

ADC Biotechnology, Healthcare/Pharmaceutical Manufacturing Technology

ADC Bio’s manufacturing technologies speed up, simplify and reduce the costs of developing and manufacturing new antibody anti-cancer drugs. Finance Wales’ investment will help the company expand its laboratories at Technium OpTiC

Total investment: £510,000

Calon Cardio, Medical devices

Calon Cardio is pioneering next generation miniature blood pumps to treat chronic heart failure. The company has used our investment to complete working prototypes as well as appoint a new chief executive.

Total investment: £1,000,000

Creo Medical, Medical devices

Creo’s new medical device enables precise, cost effective surgical procedures for pre-cancerous bowel lesions. Our investment will enable the completion of product development and trials. Creo is ahead of its commercialisation plan for 2013.

Total investment: £1.36 million (part of a £3 million equity co-investment)

 

Find out more

Interested in these companies and Finance Wales’ technology venture investments? Visit www.financewales.co.uk/earlystage to find out more.

To contact, call 0800 587 4140.

Find out more about recent deals at www.financewales.co.uk/portfolio.