# Development Bank of Wales

> Development Bank of Wales is a VC fund backing Software and Health Care. See 249 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Cardiff, United Kingdom
- Total investments: 249
- Last investment: Aug 2026
- Lead investor: 60%
- Fund size: $25M
- Last fund: Jun 2018
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/development-bank-of-wales/
- X (Twitter): https://twitter.com/devbankwales
- Website: https://developmentbank.wales/
- Facebook: https://www.facebook.com/devbankwales/

Development Bank of Wales is an independent company, providing commercial funding to Welsh SMEs. They invests private and public funds, including EU funds.

## Contacts

5 contacts available for Development Bank of Wales. Shizune tracks 13 team members at Development Bank of Wales. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/development-bank-of-wales?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $360k–$3.3M |
| Debt Financing | $18k–$3.8M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 34 | 14% |
| Health Care | 28 | 11% |
| Manufacturing | 23 | 9% |
| Biotechnology | 22 | 9% |
| Information Technology | 17 | 7% |

221 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 73 | 29% |
| Debt Financing | 43 | 17% |
| Funding Round | 33 | 13% |
| Pre-Seed | 22 | 9% |
| Venture - Series Unknown | 20 | 8% |

13 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United Kingdom | 165 | 66% |
| Australia | 10 | 4% |
| United States | 1 | 0% |
| United Arab Emirates | 1 | 0% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Gareth Bullock | Chairman | 0 | https://shizune.co/investors/profile/gareth-bullock |
| Giles Thorley | Chief Executive Officer | 1 | https://shizune.co/investors/profile/giles-thorley |
| Rhian Elston | Investment Director | 1 | https://shizune.co/investors/profile/rhian-elston |
| Alun Thomas | Senior Investment Executive; Regional Manager | 0 | https://shizune.co/investors/profile/alun-thomas |
| Andrew Morris | Investor | 3 | https://shizune.co/investors/profile/andrew-morris-9ebf |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Kubos Semiconductors | Kubos Semiconductors is develop and commercialize cubic-GaN for high efficiency, low-cost LEDs using intellectual property. | $2.1M | Venture - Series Unknown | Aug 03, 2026 |  |
| Stone Circle Mead | Stone Circle Mead Company Limited is an independent craft meadery. The company specializes in the revival of historic, traditional Welsh meads (Medd Cylch Cerrig), utilizing honey fermented over extended production timelines to create a diverse range of styles including spiced, apple, dandelion, and herbal variations. | $34.6K | Debt Financing | Jul 30, 2026 |  |
| Taylor Facilities Management | Taylor Facilities Management has grown into a national facilities management company with operations in the United Kingdom and Ireland. | $3.8M | Debt Financing | Jul 20, 2026 |  |
| Oakwood Care Group | Oakwood Care Group is dedicated to transforming the standard of residential care in Wales by providing high-quality, person-centered care services that prioritize the well-being, dignity, and independence of residents. The organization strives to create safe, supportive, and compassionate living environments while continuously improving carestandards through innovation, professional expertise, and a commitment to excellence. |  | Debt Financing | Jun 24, 2026 |  |
| Breaking Change | Breaking Change develops simulation-driven game technology and real-time platforms for core gaming studios. The company focuses on research, development, and engineering of real-time simulation systems that support deeply systemic and replayable gameplay. Its licensable platform is designed to help external studios create complex mechanics andinteractive experiences across multiple genres. Breaking Change builds visual computing and automation pipelines to support efficient development workflows. It targets core game developers seeking to integrate advanced simulation features into their titles. The company also maintains R&D collaborations and provides its technology as reusable infrastructure for interactive entertainment projects. | $980.6K | Pre-Seed | Jun 08, 2026 |  |
| Locit | Locit is a storage locker manufacturer for schools, gyms, offices, and public spaces. | $1.3M | Debt Financing | May 28, 2026 |  |
| Creo Medical | Creo Medical a medical device manufacturer based in Chepstow, South Wales. Founded in 2003, (formerly MicroOncology Ltd) we develop, manufacture and commercialise clinically innovative medical device technologies.They operate out of our new headquarters in Chepstow, South Wales where a controlled manufacturing area (including a Class 6Cleanroom) and creative R&D area have been installed. | $2.7M | Post-IPO Debt | May 21, 2026 |  |
| K3 Metrology | K3 Metrology is a specialist metrology company commercialising laser‑based 3D coordinate measurement technology developed at the National Physical Laboratory. The company’s platform is designed to provide high‑accuracy, uncertainty‑aware dimensional data in large‑volume industrial environments, supporting inspection and assembly processes inadvanced manufacturing. Its systems integrate into production workflows where traceable measurements are required across complex geometries and large structures. The technology is applied in sectors such as aerospace, defence, and nuclear, where dimensional integrity and process control are critical. | $3.7M | Seed | May 14, 2026 |  |
| Ecodetect | Ecodetect is a tech firm offering AI-driven marine monitoring and environmental consulting services for offshore infrastructure. | $661.7K | Seed | Apr 29, 2026 |  |
| RibRide | RibRide is a sport and recreation venue that conducts mountain biking, windsurfing, sailing, paddleboarding, kayaking, and surfing. | $202K | Debt Financing | Apr 23, 2026 |  |

10 of 249 investments shown.

## Co-investors
- [SFC Capital](https://shizune.co/investors/profile/startup-funding-club) — VC Fund, 8 deals together
- [UK Innovation & Science Seed Fund](https://shizune.co/investors/profile/rainbow-seed-fund) — VC Fund, 7 deals together
- [Wesley Clover](https://shizune.co/investors/profile/wesley-clover) — VC Fund, 7 deals together
- [Bristol Private Equity Club](https://shizune.co/investors/profile/bristol-private-equity-club) — VC Fund, 6 deals together
- [ACF Investors](https://shizune.co/investors/profile/angel-cofund) — VC Fund, 5 deals together
- [Newable Private Investing](https://shizune.co/investors/profile/newable-private-investing) — VC Fund, 5 deals together

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## FAQ

### What does Development Bank of Wales invest in?

Development Bank of Wales invests primarily in Software, Health Care and Manufacturing startups, most often at Seed and Debt Financing stage. Most of the 249 investments tracked by Shizune back companies in United Kingdom. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Development Bank of Wales's check size?

Development Bank of Wales typically joins rounds of $360k–$3.3M at Seed and $18k–$3.8M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Development Bank of Wales participates in.

### How do I contact Development Bank of Wales?

Public channels for Development Bank of Wales include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Development Bank of Wales?

The team at Development Bank of Wales includes Gareth Bullock (Chairman), Giles Thorley (Chief Executive Officer) and Rhian Elston (Investment Director), among 13 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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