EU-backed fund designed to invest in Irish startups to double in size to €40m
An EU-backed fund designed to invest in Irish startups and SMEs is to double in size, to €40m.
The extra funding comes from Enterprise Ireland and the European Investment Bank (EIB).
The European Angels Fund Ireland provides money to so-called angel investors who then invest it in Irish companies. The first €20m has now been allocated.
EIB Vice President Andrew McDowell said doubling the fund would “enable Irish Business Angels to significantly increase investment activity and help world-class companies to grow.”
Kevin Sherry from Enterprise Ireland said angel funding “provides both essential capital and hugely valuable industry experience” to help early stage companies grow.
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