New €140m fund to support tech firms across Europe

Technology fund Atlantic Bridge is targeting investments in up to 20 companies across Europe after the first close of its new €140m fund.

Companies with “global market scalability” will be the focus of the Atlantic Bridge III fund, which is supported by Enterprise Ireland.

It is hoped the funding will help high potential companies in areas such as cloud, big data, robotics and the internet of things scale in the coming years.

“We are delighted to launch Atlantic Bridge III,” said Atlantic Bridge managing partner Brian Long. “We already have a number of pipeline investments identified for the fund and are confident that this will build on the track record of success of our previous funds.

“As a growth equity stage Fund, Atlantic Bridge III will focus on taking companies with a solid and exciting business model to the next level, scaling them into key international markets like the US and China.”

The Dublin-based firm is currently closing investments in seven companies.

New investors, including the British Business Bank, and a number of institutional pension funds are participating in the new €140m fund, along with existing investors, the Ireland Strategic Investment Fund, Enterprise Ireland, and the European Investment Fund.

AIB has also come on board with Atlantic Bridge as a new investor and as the strategic banking partner across all Atlantic Bridge’s funds.

Companies such as Movidius, Swrve, and FieldAware are among the portfolio of companies in which Atlantic Bridge has invested previously.