€20m third level venture capital fund launched

A €20m venture capital fund focused exclusively on investing in companies whose intellectual property arises from third level education institutional research has been launched by the Tánaiste.

Enterprise Ireland has committed €8.6m to the fund, which is being managed by 4th Level Ventures, a subsidiary of Dolmen Securities Limited.

Two funds were announced at the launch – the 4th Level Venture Seed Fund and 4th Level Venture Fund.

The 4th Level Venture Seed Fund will invest in high potential start-up companies arising from research carried out in Irish third level educational institutions.

It will invest in development capital in established companies whose origins lie in third level educational institutions globally.

Making the announcement today, Tánaiste Mary Harney said: "Ireland is firmly positioned as a highly educated, high skilled, knowledge based economy.

"In order to strengthen this position, the Government has substantially increased investment in Research and Development activities in the third level sector under the National Development Plan.

"The commercialisation of technology from this research base is vital. Successful commercialisation will result in the emergence of the next wave of internationally competing Irish companies in cutting edge sectors."