The Clwyd Pension Fund has confirmed a £10 million equity investment in the £25 million Wales Management Succession Fund. This is the first time an institutional equity investor has backed a fund managed by the Development Bank of Wales or its predecessor Finance Wales. 

The Wales Management Succession Fund was first launched in 2016 by Welsh Government with an initial £10 million investment alongside £5 million of legacy funding. The fund provides ambitious Welsh business owners and management teams with the funding they need to buy established Welsh small and medium-sized businesses (SMEs) when their current owners retire or sell. Equity investments of between £500,000 and £3 million are available.