Bank of Ireland seed fund closes on EUR26m

Fund

Bank of Ireland has announced the launch of the Seed and Early Stage Equity fund, a new EUR26m vehicle designed to invest in Irish start-up and early-stage companies, which will be managed by Kernel Capital.

The vehicle is the eighth new fund supported by the Government through Enterprise Ireland's Seed and Venture Capital Programme 2007-2012.

Investors

The Bank of Ireland has committed EUR17m to the fund, while Enterprise Ireland contributed EUR8m and the University of Limerick Foundation invested EUR1m.

Investments

The new fund will invest in export-oriented companies that operate in the technology, food and financial services sectors, in addition to supporting patent and patent-pending projects from Irish universities. The vehicle will target investments in the range of EUR100,000-500,000.

People

Kernel Capital comprises a team of 14 investment professionals based in its offices in Dublin, Cork, Belfast and London.

Fund: Bank of Ireland Seed and Early Stage Equity Fund

Closed on: EUR26m

Focus: Seed, early-stage, Ireland

Address: Kernel Capital, 15 Molesworth Street, Dublin, Ireland

Tel: +353 (0)1 6336829.

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• UK / Ireland