Seed investors in Wales
Wales, led by Cardiff and Swansea, has a distinct investor base including government-backed funds alongside angel networks and university spinouts. 251 investor-backed seed companies in Wales are in Pulse, and 40 raised a first funding round in the last year.
- Investor-backed companies
- 251
- Active investors, 2 years
- 720
- Rounds, 2 years
- 174
- Median round
- £97k
Who is investing
In the last two years 119 funds, firms and family offices and 601 angels took shares in seed companies in Wales, with the latest round in Oct 2026. These are the firms backing the most of these companies:
| Firm | Type | Companies |
|---|---|---|
| DBW Investments (3) Limited | Fund or investment firm | 21 companies |
| SFC Capital | Fund or investment firm | 10 companies |
| SFC BBI | Fund or investment firm | 6 companies |
| Management Succession (Wales) LP | Fund or investment firm | 4 companies |
| Haatch | Fund or investment firm | 2 companies |
| Haatch BBI | Fund or investment firm | 2 companies |
| Mega Mouse Ventures Ltd | Fund or investment firm | 2 companies |
| University College Cardiff Consultants Limited | University | 2 companies |
See all 720 active investors, including angels, with what they've backed, estimated cheque sizes and who they invest alongside.
Rounds and valuations
Over the last two years, 174 funding rounds were raised by seed companies in Wales, an estimated £40.7m, with a median round of about £97k. 40 of the companies raised their first priced round in the last 12 months. 45% of these valuations carry a High confidence rating.
How Wales compares
Wales has 3% of the UK's seed companies's 9,780 investor-backed companies. The median round of £97k is above the £70k median for the UK's seed companies, and below the UK-wide £176k. The leading sectors are software & it (60), business services (46) and retail & ecommerce (22). The most active firm in these companies is DBW Investments (3) Limited, in 21 companies.
Questions
How many investors back seed companies in Wales?
Pulse found 720 outside investors taking shares in seed companies in Wales in the last two years: 119 funds, firms and family offices, and 601 angels.
How much do seed companies in Wales raise?
Over the last two years 174 rounds were raised, an estimated £40.7m in total. The median round was about £97k.
Which sectors raise the most in Wales?
By number of investor-backed companies, software & it (60), business services (46), retail & ecommerce (22) lead in Wales.
Can I see every investor?
Pulse subscribers see every outside investor by name, with portfolios and co-investors, from £39.99 a month plus VAT (£47.99 inc. VAT). Contact details are not included and names are not linked to personal profiles.