IRELAND - Bank of Ireland seed fund launches
Bank of Ireland has announced the launch of the Seed and Early Stage Equity fund, a new EUR 26m vehicle designed to invest in Irish start-up and early-stage companies.
The fund, which will be managed by Kernel Capital, 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 EUR 100,000-500,000.
The Bank of Ireland has committed EUR 17m to the fund, while Enterprise Ireland contributed EUR 8m and the University of Limerick Foundation invested EUR 1m.
The vehicle is the eighth new fund supported by he Government through Enterprise Ireland's Seed and Venture Capital Programme 2007-2012.
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