Trivirix International, the US medical and biotech equipment manufacturer, is planning to deliver a much-needed investment boost to north Belfast after securing £13.5 million sterling (€21.9 million) of new venture capital funding.
The company said the finance would be used to expand its operation in Ballygormartin, Belfast.
Mr Richard West, chief executive officer of TriVirix International, said it had not been deterred from reinvesting in Northern Ireland, despite the unrest on the streets of North Belfast in recent weeks.
TriVirix first established its Belfast operation three years ago with financial assistance from the Industrial Development Board in the North. It employs 60 people but the new venture capital boost is expected to create jobs at the facility.
"Our impression of Belfast is that it is a good place to do business. We have an excellent, well-educated, highly skilled workforce, which contributes real value to our company.
"We are fully aware of the political situation and it is something that we continue to monitor but it has not had any impact on our investment and we are very pleased that we have invested in Northern Ireland," Mr West said.
However, he said TriVirix was concerned at how its major customers might react to continuing violence on the streets of Belfast.
"There are advantages to locating in Northern Ireland because of the availability of a highly skilled labour but Belfast is our only manufacturing facility and we are working hard to build supplier relationships.
"Because we are selling our services from Northern Ireland, I think certain customers might be anxious that the political situation could have had an impact on our delivery schedules but this has not been an issue for us," Mr West added.
The new venture capital deal secured by TriVirix is one of the largest in the North to date and represents a significant vote of confidence in the North as an investment location.
A number of funds were involved in the latest equity round including Belfast-based Crescent Capital, Aurora Funds from North Carolina and London-based Thompson Clive & Partners. The North Carolina-based fund Frontier Capital of Charlotte and Enterprise Equity in Belfast have also invested in the Belfast company.
Mr Aidan Langan, Crescent Capital's investment manager said the company was an attractive investment proposition because it had achieved significant goals in just three years.
According to TriVirix, the new finance will be used to get the company to profitability in the short term and help build a strong revenue base.
