The co-founders of Dolmen Corporate Finance, Mr Neil O'Leary and Mr Joe Devine, have set up an Irish-based corporate finance firm, Ion Equity.

The new firm will focus primarily on technology-focused corporate finance advice and on the management of a private technology investment fund.

Investments of between £1 million (€1.3 million) and £3 million will be available to high-growth technology and communications companies, Ion said. Mr O'Leary will assume the role of chief executive. He was previously a director of UBS investment bank in London. Mr Devine, a former director of Ernst & Young, is the firm's operations and finance director.