Fund managers can apply for €65m in EI funding

Fund managers interested in securing investment from Enterprise Ireland can apply for €65m in funding, which will be leveraged with additional private sector investment to create funds for investment in start-ups.

EI is interested in funds that will invest in areas that reflect its key strategic sectors including; food, software, fintech, general ICT, services, cleantech and life sciences.

The latest round of funding is the second competitive call under the Seed & Venture Capital Scheme (2013 - 2018). To date, close to € 99.5m of the total € 175m assigned under the scheme has been committed and a number of funds have successfully reached their fundraising targets.

Julie Sinnamon, CEO of Enterprise Ireland, said: " The existing Seed Funds have been hugely effective in increasing the amount of funding available to our start-ups and have helped create a vibrant and dynamic portfolio of high growth companies. Through the existing seed funds, which are in receipt of considerable investment from the Irish banking sector, we have seen significant investment in high potential start-ups. The next generation of seed funds targeted for establishment under this initiative will create a new platform to support commercialisation of ideas, company establishment and most importantly job creation".

To qualify for funding, funds must demonstrate an ability to raise capital and support company growth and must invest, at a minimum, an amount equal to double EI’s commitment in Irish companies.

The deadline for submissions is 3pm on July 31st 2015. For more information see here