Delta Partners launches €70m fund for 30 early-stage Irish companiesLeigh Mc Gowranon April 8, 2022 at 10:55 Silicon RepublicSilicon Republic

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Dublin-based venture capital firm Delta Partners has launched a new fund with a target amount of €70m, which will invest in early-stage technology businesses in Ireland.

The Delta team will invest in 30 of Ireland’s most innovative and exciting start-ups over the next three to four years, with a focus on seed stage investment – where it will be the first institutional investor – and the Series A stage where companies require funds for scaling.

The fund has reached a first close with Bank of Ireland and Enterprise Ireland as cornerstone investors, supported by Fexco and several family offices. Delta plans to add new investors to the fund over the next year, to reach the target amount of €70m.

Commenting on the new fund, Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, T.D, said: “We are constantly looking at ways we can back Irish businesses, especially at an early stage when raising finance is often the most difficult.

“This fund will be a €70m pot of money, supported by the Government through Enterprise Ireland for seed and early-stage technology businesses, working on ideas that will create the jobs of the future,” Varadkar added.

Delta is also expanding its team with two new partners. Amy Neale was a senior VP with Mastercard, where she led innovation teams focused on fintech across the globe. Richard Barnwell is the founder of Digit Games, which was an investee of Delta Partners.

“Great Irish entrepreneurs are succeeding across the technology spectrum and the main thing they lack is capital to help them to achieve their ambitions,” Delta partners Dermot Berkery and Maurice Roche said. “Our two new partners, Amy and Richard, bring incredible skillsets to help these entrepreneurs along their journeys.”

Delta Partners has more than 120 investee companies to date. Its investment portfolio includes machine learning start-up Peroptyx, Dublin’s digestive health company FoodMarble and proptech start-up Offr.

Earlier this week, Dublin-based investment firm Elkstone launched a €100m fund for high-potential Irish start-ups in the seed and pre-Series A stages.

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