The final €20 million of the Enterprise Ireland Seed and Venture Capital Programme 2007-2012, which had a total value of €175 million, has been made available for co-investment in seed and venture capital funds. The programme has already committed around €155 million to 11 seed and venture funds. These 11 funds have more than €630 million under management for investment in early stage and growing companies. Enterprise Ireland is now inviting applicants for the last €20 million in the fund and is seeking co-investors with access to private sector and institutional capital in Ireland and overseas to support Irish innovative companies.

Minister for Jobs, Enterprise and Innovation, Richard Bruton, said:
“Venture capital funds provide crucial funding, advice and networks both to early-stage high-potential companies in key high-growth sectors and to expanding established businesses.
“They are critical in helping to bridge the funding gap for Irish companies and ensuring that these companies can continue to grow and create jobs in Ireland.”
Niall O’Donnellan, head of investment services at Enterprise Ireland, said:
“The seed and venture capital sector plays a vital role in supporting and increasing employment in innovative businesses by providing essential risk equity to enable many of our clients to realise growth opportunities.
“The recently published Enterprise Ireland Seed and Venture Capital Programme Report 2011 showed that Irish venture capital firms supported by Enterprise Ireland made 131 investments in 93 companies with a value of €60 million in 2011. This marks a 43% increase on the value of investments in 2010. This represents a significant result, mirroring the strong performance by Irish exporters in 2011 and the increase in the number of innovative start up enterprises supported by Enterprise Ireland during the year.”
The closing date for submission of proposals is 10 September 2012 (4pm).
For more information please click here.

Share this story via: