Draper Esprit names new finance chief as it sells software investment

Draper Esprit, the Irish State investment fund-backed venture capital group, has appointed a new chief financial officer as it stands poised to receive €8.6 million from the sale of a company in its portfolio.

Benjamin Wilkinson, a chartered accountant and former investment banker, who most recently worked as chief financial officer of London-listed President Energy, will hold the same role in Draper Esprit, the company said on Monday.

Draper Esprit raised more than €100 million in an initial public offering in June on the junior Dublin and London markets. The company's Irish business is headed up by serial entrepreneur Brian Caulfield, and has almost 27 per cent owned by the Ireland Strategic Investment Fund.

The company said on Monday that ENEA, a global information technology company that provides real-time operating systems and consulting services, has signed an agreement to acquire a Draper Esprit portfolio company, Qosmos, for a total cash consideration of about €52.7 million.

Qosmos is a supplier of network intelligence software.

The amount received by Draper Esprit on completion of sale will be about £6 million (€6.7 million), with a further €1.9 million expected in two years.