Innovation Fund commits €28m to US venture capitalist

Innovation Fund Ireland has committed €28m to a US healthcare venture capital fund Sofinnova Ventures.

Innovation Fund commits €28m to US venture capitalist
Fri, 16 Mar, 2012 - 00:00
Vincent Ryan

This is the first investment by Innovation Fund Ireland that has drawn capital from Enterprise Ireland’s €125m commitment to the fund.

Enterprise Ireland has invested €19m into Sofinnova. That money will have to be invested in Ireland or Irish companies, said senior investment adviser with Enterprise Ireland Garrett Murray.

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CourtsPlace: USPlace: IrelandPlace: Silicon ValleyPerson: Garrett MurrayPerson: MinisterPerson: Richard BrutonPerson: BrutonPerson: Mike PowellOrganisation: Innovation FundOrganisation: Innovation Fund IrelandOrganisation: Sofinnova VenturesOrganisation: Enterprise IrelandOrganisation: SofinnovaOrganisation: National Pensions Reserve BoardOrganisation: Sofinnova Ventures VIII.Organisation: Amarin Corporation
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