Finance Wales invested a record £48.2 million in businesses during its 2014-15 financial year.

The Welsh Government investment group said that this was an increase of 46% on the previous year. It made 231 investments in 164 businesses, creating or safeguarding 2,897 jobs, and chairman Ian Johnson said that these investments attracted additional investment worth £56.2 million.

Since it was founded in 2001, Finance Wales has supported smaller Welsh businesses with £337 million of investment, creating or safeguarding 38,454 jobs and having an estimated £856 million impact on the Welsh economy.

Mr Johnson said: “We are continuing to invest at record levels, and the last financial year was our best yet.”