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The Venture Codex

Wales Technology Seed Fund II

Unit J, Yale Business Village, Ellice Way, Wrexham, Wales, LL13 7YL, 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
2
Lead investments
1
Investments · 12mo
2
Active investors
8

Sector focus

  • Banking
  • Commercial
  • Commercial Lending
  • Finance
  • Financial Services
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Investment portfolio

  • 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

    Participated · 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.

Team

  • Rachel Miles

    Portfolio Monitoring Manager

    LinkedIn
  • Matthew Pugh

    Portfolio Monitoring Executive

  • Alun Thomas

    Regional Manager

  • David Staziker

    Chief Financial Officer