The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today announced the initial closing of Fountain Healthcare Partners II, L.P. with €85 million of committed capital. The Department of Jobs, Enterprise and Innovation through Enterprise Ireland has made a €15 million commitment to the Fund with the majority of the balance of funding coming from institutional investors including through the Irish Strategic Investment Fund and the European Investment Fund (EIF).
Irish businesses improved their payment performance by more than five days in the past year, according to the latest insights from ExperianÂ®, the global information services company. Businesses in the Republic of Ireland paid creditor invoices on average 18.66 days beyond invoice terms during April, May and June of 2014, compared with 23.91 days beyond terms during the same period last year. Values since the start of the year have remained relatively consistent, with businesses paying 18.44 days beyond terms in the first quarter of the year, an improvement of 4 days when compared with the final quarter of 2013.
The Enterprise Ireland Seed & Venture Capital Programme 2013 Report published on the 17th July 2014 shows a continued upward trend in the level and value of activity in venture capital funds supported under Enterprise Ireland Seed and Venture Capital Programmes. In 2013 these Funds made 153 investments with an investment value of â¬59 million in 94 Irish-based companies, representing a significant increase on the â¬54million invested in 84 Irish companies in 2012 under the schemes.
The BDO Development Capital Fund has announced its first investment since the launch of the â¬75million fund by the Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, in March this year. The Fund managed by Development Capital, a 100% subsidiary of BDO, has invested â¬8 million in Version 1, one of Irelandâs fastest growing IT services companies. This project is supported by the Department of Jobs through Enterprise Ireland.