TRINTECH founder Cyril McGuire has a new fund seeking to put money into the next big tech developments out there. McGuire has quietly set up Infinity Capital, a venture and private equity outfit targeting tech investments with global promise. The fund is thought to have €20m worth of investment firepower.
The €100m sale of Trintech made McGuire a fortune of €21m at 50 years of age, and he was unlikely to simply retire and take up gardening. He has been regularly cropping up at tech showcase events in recent months.
Infinity will back "a maximum of five companies," the low-key McGuire, who is chief executive and owner, said.
"I'm not ruling anything in or out, but particular areas of interest are cloud applications, social commerce, leveraging the social business side, and then the whole mobile channel -- that's where growth is."
He is mainly looking beyond early stage start-ups at companies that are "a little bit more developed, perhaps have already advanced in the Irish or British markets and seeking to scale for strategic growth in maybe the US. But if it's a good idea in early stage, then fine. It's about the right capital structure, the right management team, and something with global application and scale."
Finance is "primarily my own and from close alliances with others, including family, other VCs and angel investors -- connections from my 20 years in the business".
McGuire was a founder-stage investor in online betting sensation Betfair. He is an investor in Iain MacDonald's Skillpages and Cork cloud computing software company MPStor, where ex-Intel boss Jim O'Hara is chairman.
He has also invested in Hattrick Sports, a Dublin-based gambling software company where his brother Vivian is also a shareholder.
Sunday Indo Business