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Minister Bruton announces €75million second Development Capital Fund
 
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
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
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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