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Minister Bruton announces €75million second Development Capital Fund
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| Pictured L-R: Julie Sinnamon, CEO, Enterprise Ireland, Minister for Jobs, Enterprise and Innovation, Richard Bruton TD and Sinead Heaney, Founding Director of the BDO Development Capital Fund |
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The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, recently launched a €75 million fund under the Development Capital Scheme, to support established Irish companies targeting significant revenue and jobs growth through export markets.
The BDO Development Capital Fund, which will be managed by Development Capital, a 100% subsidiary of BDO, will invest development and growth capital in established, mid-sized and profitable companies to support and accelerate their export growth plans. It breaks new ground for an enterprise investment fund which in addition to an experienced investment team brings together a blue chip partnership of large Irish corporates and industry experts who, together with Enterprise Ireland, will provide not only funding but also the necessary experience, expertise and international reach to assist secure business growth opportunities. The corporate partners to the fund include Bank of Ireland, CRH plc, Glanbia plc and Glen Dimplex.
In addition to the corporate partners the investee companies will have access to proven industry experts who have created, grown and developed Irish companies into international success stories. Target companies for investment will be Irish and have significant opportunities for jobs and export growth. Typically companies will be mid-sized, with high-growth potential and annual turnover of €15million to €50million. Based on the current growth opportunities it is likely that the majority of investments will come from the food and agri; life sciences and clean tech; ICT/software and industrial/engineering sectors.
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