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.
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