€85m VC fund to support Irish life sciences sector

Enterprise Ireland has invested €15m in a new life sciences venture capital fund that has the potential to create 1,000 Irish jobs.

Ireland’s largest life science venture capital fund, Fountain Healthcare Partners yesterday announced the initial closing of an €85m fund — the second such fund it has raised.

The Department of Jobs, through Enterprise Ireland has committed €15m to the fund with the remainder raised from institutional investors including the Irish Strategic Investment Fund (ISIF) and the European Investment Fund.