Should Government get involved with VCs ?
To date â‚¬148.75m has been committed to 8 Seed & Venture Funds.
Of these, 6 have completed first closings, including
- Delta Partners [100m fund]
- AIB Seed Capital Fund [30m fund]
- Atlantic Bridge Ventures
- Kernel Capital Partners [70m fund]
- Fountain Healthcare Partners – not for technology – life science fund.
- NCB Ventures – [75m fund] – closed its fund in November.
â‚¬275m funds readily available – and from EI press release – 8 funds [2 funds still to close] have succeeded in raising in excess of â‚¬500m for investment in early stage and growing companies.
Enterprise Ireland announced that â‚¬30m is remaining and is now available for co-investment – and a recent advertisement in the FT is targetting UK VCs for partnership.
Given the recent UK news @ Government funds for NESTA, the UKâ€™s National Endowment for Science, Technology and the Arts, will oversee a Â£1bn emergency venture capital fund aimed at pre-revenue technology start-up firms – and the follow on discussion – We’d like to hear from Web2Ireland companies who have raised monies from these EI backed funds [make sure you update your Crunchbase details]