Delta Partners unveils new venture capital fund

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Dublin-based venture capital firm Delta Partners has announced the launch of its new venture capital fund which will invest in seed and start-up technology companies in Ireland. The fund reached an initial close with Bank of Ireland and Enterprise Ireland as anchor investors, backed by Fexco and several family offices. New investors will join the fund over the coming year, with a closing target of €70 million.

To expand the team, Maurice Roche and Dermot Berkery, Delta’s current partners, are joined by two new partners. Amy Neale joins Mastercard after leading fintech-focused innovation teams across the globe, from New York to Singapore and Kenya. Richard Barnwell brings vital experience as a hands-on entrepreneur having created Digit Games, previously an entity of Delta Partners which later sold to US games company Scopely.
Delta has a strong track record, with over 120 recipient companies to date with successful scaling companies such as Luzern and Sirius XT in the current portfolio. To date, the team has made €1.8 billion from companies such as Clavis (sold to Ascential plc), Sensl (sold to OnSemiconductor) and Neuravi (sold to Johnson & Johnson).

Commentary on the new fund:

Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, said: “We are constantly looking for ways to support Irish businesses, particularly at an early stage when fundraising is often The hardest. I really admire those who are brave enough to start their own business. This fund will be a €70 million pot of money, backed by the government through Enterprise Ireland for seed and start-up tech companies, working on ideas that will create the jobs of the future. I look forward to seeing the success of those who receive funding and wish the Delta team the best of luck.

Jillian Clarkin, Head of SME Markets at Bank of Ireland, said: “This new fund will support the talent and ambition of dozens of fledgling Irish tech companies. I look forward to seeing them become successful employers and exporters and am delighted that Bank of Ireland is part of this journey. Bank of Ireland is committed to supporting the innovation that is so important to Ireland’s future economic success.

Leo Clancy, CEO of Enterprise Ireland, said: “This fund will increase the availability of capital for start-up companies so they can realize their business plans and compete with their international peers. Enterprise Ireland’s focus on seed-stage investments that enhance diversity and experience in the ecosystem is underpinned by this excellent launch and we look forward to working with the Delta team over the coming years.

Dermot Berkery and Maurice Roche of Delta Partners Limited said: “This fund is aimed directly at filling the funding gap for start-up companies in Ireland. Great Irish entrepreneurs are successful in all areas of technology and the main thing they lack is the capital to help them achieve their ambitions. Our two new associates, Amy and Richard, bring incredible skills to help these entrepreneurs along their journey. We are delighted to have the support of Bank of Ireland, Enterprise Ireland, Fexco and the family offices of some of Ireland’s most successful tech entrepreneurs.

Neil Hosty, CEO of Fexco Group, said: “Innovation is at the heart of Fexco’s strategy and we are delighted to support the next generation of Irish technology success stories. This new fund will provide essential investments to exciting new companies as they take on the international market. »

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