Menu
08/03/2013
New Funding For Irish Firms Will Help Them Grow
Speaking from Austin, Texas where he is leading a trade mission the Minister for Jobs, Enterprise and Innovation, Richard Bruton T.D. today, 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.
Today's announcement will result in new funding being available for innovative Irish companies in the tech sector, to help them grow and create jobs.
Minister Bruton is on the third day of a four-day Enterprise Ireland trade mission to Texas seeking to support greater export growth by innovative Irish companies. While in Texas Minister Bruton is meeting a range of high-growth Irish tech companies and facilitating meetings with US companies and potential investors and venture capital funds around the South by South West technology trade show.
Enterprise Ireland has committed €10 million to the Highland Fund, alongside a commitment of €10 million by the National Pensions Reserve Fund. Enterprise Ireland has committed a further €10m to the Fund when it completes a second closing.
The fund will be establishing an office in the Irish Market in April headed by Tony Zappalà who has recently joined Highland Capital from Index Ventures.
Speaking from the Austin Minister Bruton said: "The technology sector is a key target in the Government’s Action Plan for Jobs. Since we have taken office we have seen employment growth of over 11,000 in ICT, and we are implementing a number of measures to support further growth in this sector. Venture capital funding is a key part of this. We have provided a €60million second call under Innovation Fund Ireland which will be leveraged by further private sector funds, as well as €700million domestic venture capital scheme, to help provide funding as well as strategic advice and networks, to high growth Irish companies."
(CD)
Today's announcement will result in new funding being available for innovative Irish companies in the tech sector, to help them grow and create jobs.
Minister Bruton is on the third day of a four-day Enterprise Ireland trade mission to Texas seeking to support greater export growth by innovative Irish companies. While in Texas Minister Bruton is meeting a range of high-growth Irish tech companies and facilitating meetings with US companies and potential investors and venture capital funds around the South by South West technology trade show.
Enterprise Ireland has committed €10 million to the Highland Fund, alongside a commitment of €10 million by the National Pensions Reserve Fund. Enterprise Ireland has committed a further €10m to the Fund when it completes a second closing.
The fund will be establishing an office in the Irish Market in April headed by Tony Zappalà who has recently joined Highland Capital from Index Ventures.
Speaking from the Austin Minister Bruton said: "The technology sector is a key target in the Government’s Action Plan for Jobs. Since we have taken office we have seen employment growth of over 11,000 in ICT, and we are implementing a number of measures to support further growth in this sector. Venture capital funding is a key part of this. We have provided a €60million second call under Innovation Fund Ireland which will be leveraged by further private sector funds, as well as €700million domestic venture capital scheme, to help provide funding as well as strategic advice and networks, to high growth Irish companies."
(CD)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
29 August 2001
Venture fund investment in Ireland reaches IR£29m
Mary Harney, Tánaiste and Minister for Enterprise Trade and Employment, has welcomed confirmation that the venture capital market continued to show strong growth in 2000. Ensuring critical support for the development and expansion of Irish business, the Minister confirmed that investment had risen to IR£28.8 million in 2000 compared to IR£20.
Venture fund investment in Ireland reaches IR£29m
Mary Harney, Tánaiste and Minister for Enterprise Trade and Employment, has welcomed confirmation that the venture capital market continued to show strong growth in 2000. Ensuring critical support for the development and expansion of Irish business, the Minister confirmed that investment had risen to IR£28.8 million in 2000 compared to IR£20.
18 February 2002
Venture Capital boost for Ireland's West and Border Counties
A new €9 million Venture Capital (VC) fund to support existing companies and early stage start-ups with high export growth potential has been announced for the West and Border Counties of Ireland. Enterprise Ireland (EI) and fund manager Enterprise Equity Venture Capital Group, will each invest €4.5 million in the Venture Capital Fund.
Venture Capital boost for Ireland's West and Border Counties
A new €9 million Venture Capital (VC) fund to support existing companies and early stage start-ups with high export growth potential has been announced for the West and Border Counties of Ireland. Enterprise Ireland (EI) and fund manager Enterprise Equity Venture Capital Group, will each invest €4.5 million in the Venture Capital Fund.
13 May 2005
APT management buyout completed
APT (Audio Processing Technology), the Belfast-based audio compression specialist, has secured significant equity and debt funding which has enabled the company to complete a management buyout from its former owner, Oxfordshire-based Solid State Logic.
APT management buyout completed
APT (Audio Processing Technology), the Belfast-based audio compression specialist, has secured significant equity and debt funding which has enabled the company to complete a management buyout from its former owner, Oxfordshire-based Solid State Logic.
15 March 2002
Survey shows reluctance to avail of venture capital
A new survey has shown Northern Ireland companies lag behind their UK counterparts when it comes to making use of venture capital funding.
Survey shows reluctance to avail of venture capital
A new survey has shown Northern Ireland companies lag behind their UK counterparts when it comes to making use of venture capital funding.
28 March 2013
New Initiative Announced To Help SMEs
Enterprise Minister Arlene Foster has announced a new initiative by Invest Northern Ireland to help small and medium enterprises (SMEs) access funding. The Finance Voucher initiative will provide support to businesses to access professional help to prepare funding proposals.
New Initiative Announced To Help SMEs
Enterprise Minister Arlene Foster has announced a new initiative by Invest Northern Ireland to help small and medium enterprises (SMEs) access funding. The Finance Voucher initiative will provide support to businesses to access professional help to prepare funding proposals.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
