Fund’s €8m investment in IT firm to create 100 jobs

Up to 100 jobs will be created after the Government-backed BDO Development Capital Fund announced an €8m investment in Irish IT services company Version 1.

This marks the €75m fund’s first investment since it was launched in March as part of the Government’s Development Capital Scheme, through which a total of €225m is being made available to mid-sized Irish companies with significant growth potential.

As part of this scheme, €75m in funds from the Department of Jobs, through Enterprise Ireland, will be matched with €150m of private sector funding for investments in Irish companies through a series of different funds. The investment will enable Version 1’s further expansion into the UK and creation of up to 100 additional IT consultancy jobs in Ireland.