BOI invest €6.35 m in Cork fund

Bank of Ireland Business Banking is investing €6.35 m with Cork-based Kernel Capital Partners in its venture capital fund.

The fund focuses on early and mid-stage investments of between €300,000 and €1,500,000, which will be available across a wide range of industry sectors.

Commenting today, Mike Soden, Bank of Ireland Chief Executive said : "Unlike many other venture funds at present, this fund will be actively seeking new investments across all sectors of industry."

Niall Olden, Founder and Chief Executive of Kernel Capital Partners said: "The additional funds secured allow us to broaden our scope of investment beyond concentrating exclusively on ICT and to take advantage of the significant venture capital opportunities that exist in other industry sectors."

This is the only such fund based in Munster.