Wales is quickly gaining attention as a hub for startups. In 2023, Cardiff alone secured £125 million from various venture capital firms. Fintech, cybersecurity, and sustainable energy are some of the key industries growing in the region. This progress is supported by both local investors and government initiatives. To support entrepreneurs, we’ve created a guide on venture capital investors and highlighted the top 10 firms in Wales. You can explore more investment options in the guide.
Here's a table that summarizes the overall VC data for a quick overview:
1. Development Bank of Wales
The Development Bank of Wales supports the Welsh economy by providing practical financing solutions. With £1.9bn in funds, it helps businesses start, grow, and succeed. The bank focuses on creating a positive social impact. It collaborates with investors, partners, and local organizations to drive business growth across Wales.
DSW Ventures is a UK VC firm. It invests in early-stage businesses. They focus on technology and tech-driven companies that has strong growth potential. Their investments range from £300,000 - £1 million. Experienced investors lead the firm. The investors AKA leaders work with entrepreneurs across the UK. They also offer guidance to help businesses grow and succeed.
The Clean Growth Fund is a prominent VC firm of UK. They invest in early-stage climate tech companies. They support solutions that reduce greenhouse gas emissions and improve resource efficiency in sectors like energy, transport, industry, buildings, waste, and water. Their investments typically range from £500k to £3m. Their primary focus is on Seed and Series A stages. The fund collaborates with businesses that have proven commercial solutions and provides guidance to support impactful innovation.
Foresight Group is a British venture capital firm that supports sustainability and economic development. They invest in clean energy projects and initiatives aimed at reducing industrial emissions. They also back efforts to restore natural ecosystems. The firm works with early-stage companies, including those in deep tech and enterprise software. Their investments range from £500k to £10m. With over £12.2bn in assets, Foresight partners with entrepreneurs to develop sustainable solutions.
IQ-EQ is a global investor services group with more than 5,500 professionals across 25 locations. They combine technical expertise with private insight to deliver tailored solutions. Their clients include fund managers, multinational corporations, family offices, and private individuals. Guided by ESG principles, they focus on compliance and investment support. IQ-EQ is committed to delivering exceptional client service, building trust, and creating opportunities worldwide.
Target Global operates as a European VC with over €3 billion in assets under management. They invest in tech companies from pre-seed to pre-IPO. Offices in London, Berlin, Tel Aviv, and Abu Dhabi support transformative startups to later become unicorns: Delivery Hero, Wefox, and Kuda. Known for backing 15 unicorns and achieving 21 exits, Target Global empowers founders to disrupt global markets and scale groundbreaking businesses.
Runa Capital is a global VC firm backing early-stage tech startups in deep tech, enterprise software, and fintech infrastructure. With over $500M under management, it backs founders with funding, operational expertise, and a strong transatlantic network. Their portfolio includes innovators like NGINX and Brainly. With offices in Luxembourg, Palo Alto, London, Paris, and Berlin, Runa helps startups scale across global markets.
Heartcore Capital is a leading European VC firm that invests in early-stage startups, from pre-seed to Series A. Having a mission of "Investing in Happiness", they are based in Copenhagen, Stockholm, Berlin, and Paris. The firm is dedicated to their visionary founders in their quest to build category-defining companies in tech, Web3, and sustainability. Heartcore has invested in more than 100 companies, thereby creating over €10B in enterprise value, while focusing on empowering people, reimagining work, and protecting the planet.
9. Earlybird Venture Capital
Earlybird Venture Capital is a premier European VC investor focused on early-stage technology companies. Since inception in 1997, Earlybird has managed close to €2.5 billion across successive specialized funds, putting the spotlight on such fields as digital tech, health, and deep tech. With 9 IPOs and 34 trade sales under its belt, Earlybird offers start-ups support with finances, strategic advice, and an international network to unfold their business ventures and leave a lasting impact.
Plug and Play is a leading global innovation platform that connects startups, corporations, and investors to drive meaningful change across industries. With a presence in 60+ locations, they support 90,000+ startups in fields such as fintech, health, mobility, and sustainability. Known for fostering open innovation, Plug and Play partners with forward-thinking businesses and they offer acceleration programs, investments, and a strong ecosystem that will be the epicenter for where the future of technology and entrepreneurship will begin.
Is VC high risk? Venture capital is a type of investment that can be risky but has the potential for high returns. However, there is no guarantee of success. Investing in startups is always uncertain, and you might lose your money. Even though VC firms try to minimize risks, investing in startups is always uncertain, and you might lose your money.
What is the best country in Europe to set up a VC fund? Luxembourg is ideal for setting up a VC fund in Europe due to its investor-friendly regulations, diverse investment vehicles, and a strong financial sector that supports local and foreign investors. The country's tax efficiency and stability further make it a preferred choice.
Which European cities have the most VC investments? The top cities for VC investments in Europe are London, Paris, Berlin, Amsterdam, and Stockholm. London leads with $22.67B in 2023, followed by Paris and Berlin. These cities are known for strong startup ecosystems and significant funding opportunities.
What is the minimum amount for a VC fund? Venture capital funds usually ask for a minimum investment of $250,000 to $500,000, and sometimes even more. Investing a small amount of money can still cost a lot. These funds are usually only open to wealthy people and big organizations that have a lot of money.
How do I choose a VC fund?To choose a VC fund, check how much experience and success the venture capital firm has had before. Look at the companies they’ve invested in before to see if they match what your business does. This can help you figure out if they’re a good match for you.
Best of luck with your amazing ventures. Please note that this list is filtered by various metrics, and all the data are collected through various third-party websites, mostly the VC website. Since data such as ticket size or industry may change, you are requested to visit the official website given in the blog for the latest and updated information.
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