Trustev founder launches €25m investment fund

Trustev founder Pat Phelan and distiller Illann Power have launched a new €25m investment fund to help Irish companies scale globally.

The founders of Nohovation have ringfenced €10m solely to help early-stage Irish companies with the potential to scale rapidly across the globe in an attempt to address what Cork native Phelan said is a lack of venture-capital funding in the Irish market.

Specifically, Nohovation will look to bridge the gap between seed and subsequent funding rounds.