Business Irish

Saturday 15 June 2019

Enterprise Ireland seeks managers for €100m VC fund

Enterprise Ireland is seeking venture capital firms to manage a share of its new €100m Seed & Venture Capital Scheme (2019-24). (Stock picture)
Enterprise Ireland is seeking venture capital firms to manage a share of its new €100m Seed & Venture Capital Scheme (2019-24). (Stock picture)
Donal O'Donovan

Donal O'Donovan

Enterprise Ireland is seeking venture capital firms to manage a share of its new €100m Seed & Venture Capital Scheme (2019-24).

The State agency is issuing a call for expressions of interest from seed and venture fund managers to manage portions of the fund focused in three specific areas.

Up to €50m is to be focused on very early stage 'pre-seed and seed' investments, supporting high-potential startup companies.

A separate €30m is available for more advanced 'series A' funding rounds and beyond in companies that are seeking to scale up.

Up to €20m will also be made available to funds focused on the food and foodtech sectors.

Enterprise Ireland said it is seeking proposals from both Irish and international fund managers who can offer added value in terms of commercialisation and connectivity to its investee companies.

Since the Seed & Venture Capital programmes commenced in 1994, more than 500 Enterprise Ireland clients have received in excess of €900m in investment.

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