€10m venture capital fund aims to boost medical technology sector

VENTURE capital firm Kernel Capital has launched a €10 million fund which, it said, is Ireland’s first to focus exclusively on the indigenous medical technology sector.

The Bank of Ireland MedTech Accelerator Fund will provide investments ranging from €100,000 to €500,000 and is focussed on export orientated high potential start-up life sciences companies that operate in the medical device, diagnostics or medical sectors.

Cork-based Kernal also said that NUI Galway is to become an investor with the firm. Also supporting this initiative is the University of Limerick, Bank of Ireland and Enterprise Ireland.