VentureWave holds first close of Impact Ireland fund

The first close represents approximately 20-30% of the €100m fund, according to a spokesperson for the firm. The vehicle began raising in September 2019 and the first close was held in May 2020.

VentureWave both supports buyouts and provides venture investments.

The fund is a member of the Global Impact Investing Network and is the first Irish signatory of the World Bank's International Finance Corporation's Operating Principles for Impact Measurement, one standard by which the social benefit of impact investments can be gauged. 

Investors
Negotiations are now underway with institutions, high-net-worth individuals and family offices for further investment in the next close, according to the spokesperson.

Investments
The fund will take strategic stakes in up to 15 growing Ireland-based companies. Investments of €1-25m per company will be made. The fund will target cloud-based technology companies that focus on education, healthcare, food and agriculture, energy and the environment.

The focus is on profit-driven companies that also advance the UN’s Sustainable Development Goals.

People
VentureWave Capital – Alan Foy (chairman); Kieran McLoughlin (managing partner).

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