It’s first restaurant in Wales in the centre of Cardiff has been supported with debt funding from the £130m Investment Fund for Wales
Italian restaurant venture Bosco has opened its first Welsh restaurant with plans for further venues.
Its latest venue, in the centre of Cardiff, has been supported with a £350,000 loan from the £130m Investment Fund for Wales (IFW),The first Bosco opened in Bristol in 2014, with it now operating four restaurants in the south-west of England.
With the successful launch of its Cardiff restaurant the business is looking to add further Welsh locations over the next 18-months.
Funding support for its Cardiff venue, has come from the large loans element of the British Business Bank’s IFW. It is managed by Development Bank of Wales, subsidiary business FW Capital. Bosco has deployed the funding to refit premises on High Street, as well as providing working capital. The loan also unlocked a further seven-figure co-investment from private investors
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Joe Cook, managing director at Bosco, said: “The new restaurant at Cardiff has already exceeded our expectations. That part of the city has an impressive buzz and busy atmosphere, and we’ve been welcomed with open arms.
“It’s always been our intention to grow as a business, and this loan allowed us to put our stamp on the new site, and refit it at scale in line with our brand. Thanks to the success of the Cardiff restaurant, we’re know confident in what we can accomplish in Wales, and certainly want to grow further in Wales in the next year-and-a-half.”
John Babalola, investment executive at FW Capital, said: “Bosco have a fantastic brand. Their expansion to one of Cardiff’s most popular areas for bars and restaurants was an obvious next step for them. We’re glad that our support has helped them to get the Cardiff restaurant set up at speed, and it’s good to see that it’s already in high demand.”
Bethan Bannister, senior investment manager, nations and regions investment funds at the British Business Bank, said: “We’re pleased to see the Investment Fund for Wales supporting Bosco, bringing a popular brand to Cardiff. This investment highlights how the fund can provide the right finance at the right time to help ambitious businesses expand into new markets, create jobs and contribute to the vibrancy of our towns and city centres.”
The large debt element of the IFW can makes loans from £100,000 to £2m.








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