Irish Government injects EUR 95m into Venture Capital Market

Enterprise Ireland, the Irish Government’s trade and technology body, has announced a major injection of new funds into the venture capital market. It is investing EUR 95m into 12 undisclosed new VC funds, which will leverage an estimated EUR 400m for investment in start-up and early-stage businesses. 56% of the money available will have a regional or sectoral focus, delivered through eight of the funds, to assist areas that in the current economic climate do not attract the highest levels of investment. Says Mark Harney, Tánaiste and Minister for Enterprise, Trade and Employment: ‘The primary objective of the new funds is to provide equity finance for seed and early-stage companies that face “market gap†problems’.

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