A new €85m life sciences venture capital fund, into which the State has invested more than €15m, has been launched.
Ireland’s largest dedicated life sciences venture capital group now has €158 million under management.
It’s the first fund announcement under the Seed and Venture Capital Scheme 2013-2018 and the Department of Jobs, Enterprise and Innovation through Enterprise Ireland has committed €15m.
“Ireland continues to be a key investment area for life sciences companies as part of the global supply chain with significant inward investment across R&D and manufacturing across the country”
Ken Murphy, Director CareerWise Recruitment
He went on to say “ Further support of venture capital initiatives to invest in new technology start-ups is a very positive move on the part of the Irish Government.”
Over 90pc of the initial €85m capital raised was sourced from major domestic and international institutional investors, predominantly fund of funds, sovereign funds, pension funds, and a strategic corporate investor.
The Fountain Healthcare Partners 2 fund is expected to make up to 15 investments in specialty pharmaceuticals, biotechnology, medical devices and diagnostics.
Mike Morrissey has extensive knowledge of production, quality and engineering, having worked for Dell, Creative Labs and Tyco Safety Products /Sensormatic.
His expansive operational experience is grounded with training as a Six Sigma Black Belt.
As a lead auditor, he is very familiar with compliance and quality standards and has project managed the implementation of the environmental standard ISO14001. He has successfully utilised his project management and team leading skills in implementing numerous cost-saving and process improvement projects.
Since joining CareerWise Recruitment, Mike has graduated with a Diploma in Personnel Management from UCC and is a Chartered member of the CIPD.
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