Development Bank of Wales
1 Capital Quarter, Tyndall Street, Cardiff, CF10 4BZ, United Kingdom
Overview
Development Bank of Wales is an independent company, providing commercial funding to Welsh SMEs. They invests private and public funds, including EU funds.
- Total investments
- 75
- Lead investments
- 41
- Investments · 12mo
- 8
- Active investors
- 12
Sector focus
- Banking
- Commercial
- Commercial Lending
- Finance
- Financial Services
Investment portfolio
- Breaking Change
Led · Equity · Jun 2026
Breaking Change builds software infrastructure that helps game studios model, simulate and maintain complex systems in modern games—such as vehicles, weapons, progression and economies—using simulation technology combined with AI-assisted authoring. The company’s platform aims to accelerate development and reduce bespoke engineering time by enabling studios to build deeper gameplay systems more efficiently. Breaking Change was founded by a team with backgrounds in games, simulation, robotics and AI, led by co-founder and CEO Dr Jonathan Quinn and co-founder/CTO Ben Laws, and includes senior engineers James Munro and Ivo Hinov. The business has received prior grant and programme support from Media Cymru, Innovate UK and the UK Games Fund, and founder backing from the Royal Academy of Engineering. With the new funding package, Breaking Change intends to expand headcount, progress its simulation and AI R&D, and begin piloting its technology with game studios in 2026 as it prepares for wider commercial adoption. The company is advancing toward market launch while leveraging both public grant support and institutional equity investment to fund growth.
- K3Metrology
Participated · Seed · May 2026
K3Metrology commercialises metrology technology developed at the National Physical Laboratory to allow manufacturers to measure multiple points simultaneously and continuously during assembly. The system is designed to identify alignment issues in real time, reducing production downtime and late-stage rework, particularly for high-value sectors such as aerospace. The company has relocated to the Advanced Manufacturing Research Centre in North Wales to deepen engagement with industrial partners and accelerate commercial deployment. Funding from the recent seed round will expand the engineering team, accelerate industrial trials and support early deployments. The technology represents the translation of around 15 years of NPL research into an industrial capability. The article does not disclose revenue, users, or prior financing metrics.
- openmoove
Led · Equity · Apr 2026
openmoove has developed a B2B platform designed to reduce administration and improve communication between estate agents, conveyancers and mortgage brokers. Founded in 2024 by Ross McKenzie and Cai Gwinnutt and headquartered in Cardiff, the team spent 18 months building and refining the product and testing it with early customers. The company has secured commercial interest from major estate agency groups and conveyancers. With the new £700,000 equity investment, openmoove plans to scale its team in Cardiff, accelerate go-to-market activity and roll the platform out more widely across the UK property sector. The funding is also expected to create six jobs as the business expands its small expert team. Founders’ backgrounds include senior roles at Purplebricks, Countrywide and extensive engineering and startup experience, which the company cites as supporting its growth plans.
- Corryn Biotechnologies
Led · Equity · Apr 2026
Corryn Biotechnologies develops a handheld device that fabricates a breathable, porous matrix of extremely fine polymer fibres directly onto the skin to deliver benefits for cosmetic aftercare and beauty applications. The company has built clean room manufacturing capabilities and advanced fabrication and characterisation laboratories at the Bay Technology Centre in Port Talbot. Corryn is finalising regulatory approvals to allow commercial use of its technology as a cosmetic, initially targeting the UK and US markets with further territory expansion planned from 2027. It is building its intellectual property position with two patents pending related to the technology and material combinations. The business is anchored in Wales but is developing a presence in the US where one co-founder is based. The recent £500,000 equity raise is intended to accelerate commercial traction, scale manufacturing, and expand the team, supporting planned job creation in Wales.
- Mariposa Therapeutics
Led · Seed · Mar 2026
Mariposa Therapeutics is developing MP5219 as a potential first-in-class, disease-modifying therapy for Epidermolysis Bullosa Simplex (EBS), a chronic genetic condition that causes skin to blister and tear. The company plans to use the seed funding to carry out pre-clinical development, secure scientific advice, and engage early with regulators ahead of clinical progression. It intends to establish a Cardiff research facility with laboratory space in 2026 and to recruit scientific staff in Wales to support formulation development and future manufacturing. Leadership includes CEO Dr David Howat (appointed October 2024) and chief scientific officer Dr Lucy Sykes. Financially, Mariposa completed a £750,000 seed round led by the Development Bank of Wales with co-investment from DEBRA Research gGmbH and the founders, positioning the company to pursue further funding for clinical development.
Team
Svetlana Goode
Investments Executive
Alun Thomas
Regional Manager
David Staziker
Chief Financial Officer
Rhian Elston
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