US venture capitalists are expected to make significant investments in the economy after a €60m round of funding was unveiled in San Francisco yesterday by Minister for Jobs, Enterprise and Innovation, Richard Bruton.

UP to €40 million in venture capital funding is poised to be pumped into Irish businesses through a number of funds.

The National Pensions Reserve Fund (NPRF) has announced that it will commit €30m to two venture capital funds in support of Innovation Fund Ireland.