Finance Wales teams up with Fusion to back university tech spinouts

It is the second Memorandum of Understanding between the two organisations in the past six years. The investment strategy of the two companies arises from Fusion's agreements with the University of Cardiff and the University of Swansea to identify and commercialise emerging intellectual property on their campuses.

Finance Wales invested seed and growth capital worth £9m in high-growth technology businesses in Wales in the last year. Established in 2001 by the Welsh government, it funds small and medium-sized businesses across Wales. It invested £6m in six Cardiff-based spinouts, including Asalus, Diurnal and MedaPhor, alongside Fusion IP.

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