€54 million Invested in 84 Irish Based Companies by Irish Venture Capital Firms Supported by Enterprise Ireland in 2012
The Enterprise Ireland Seed & Venture Capital Programme 2012 Report launched on Thursday 18 July, 2013 by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, shows a rise in the level and value of activity in 2012 in venture capital funds supported under Enterprise Ireland Seed and Venture Capital Programmes:
A new â¬175 million Seed and Venture Capital Scheme 2013-2018 aimed at providing additional funding for high-growth Irish companies with the potential to generate large amounts of additional export sales and grow jobs has recently been launched. The first call for Expressions of Interest from venture capital funds seeking investment, and advertisements appeared in newspapers at the beginning of June. Minister Bruton is targeting an additional â¬525million in funding from the private sector, which will mean a total of â¬700million available for investment over the lifetime of the Scheme. It is expected that the average initial venture investment in a company made by the funds targeted under this call could be of the order of â¬2million.
€20million Innovation Fund Ireland Investment With Leading International Venture Capital Fund Highland Capital Partners Europe
Speaking from Austin, Texas where he was leading a trade mission the Minister for Jobs, Enterprise and Innovation, Richard Bruton T.D. last Friday announced the second investment by Enterprise Ireland under the Innovation Fund Ireland programme with Highland Capital Partners Europe. Highland Capital Partners is a premier international VC that has recently raised their first dedicated European Fund, a vehicle focused solely on growth phase technology companies. Highland Capital Partners Europe had a substantial first close in November 2012.
Limerick Institute of Technology (LIT), in conjunction with Minister for Finance Mr Michael Noonan, TD, has announced the creation of a unique, privately generated fund to support the early and developmental stage for start-up businesses in the Mid-West region.The €1million ‘Enterprise Ladder Fund’ (ELF) is the first seed-fund specifically for start-up companies at an Irish Institute of Technology. Qualifying companies can expect to receive funding of between €10,000 and to €25,000 through the newly established ELF.