Venture Capital Lawan early-stage venture capital firm based in Dublin, Ireland, has achieved the first close of its sixth €140 million fund, ACT VI.
Over 80% of the fund is already committed and final closing is expected later this year.
ACT VI has a large investor base made up of several funds, combining leading institutional investors, including the European Investment Fund, the Irish Strategic Investment Fund, Enterprise Ireland and AIB, as well as a group of entrepreneurial family offices providing both valuable strategic support and co-investment. capacities.
The new fund will target investments in 35 companies across all technology sectors and highlight areas of interest in AI/ML, enterprise, deep tech, healthcare and energy and climate. Act can be the first registration and can invest up to 10 million euros in a single company. The fund is positioned as a long-term partner to support founders from seed through multiple rounds of expansion, with the ability to add significant additional co-investment through its institutional investors and broad family office basis.
ACT VI recently made its first Series A investment in Conjura, which offers real-time data analytics across the entire e-commerce operation on a single cloud-based platform.
The fund has also partnered with Enterprise Ireland to create a Seed Sidecar Fund which has already secured four seed deals with Plasmabound, Trustap, Clearword and Inferex.
Led by John Flynn, Debbie Rennick and John O’Sullivan, Act is one of the most active early-stage investors in the Irish market. The current portfolio comprises 47 companies, including Ekco, Gridbeyond, Cubic Telecom, Deciphex and Provizio. The company has had 20 releases over the past 5 years, including SilverCloud Health (acquired by Amwell), Decawave (acquired by Qorvo), Corvil (acquired by Pico), and Ocrex (acquired by Sage).