A leading European venture capital firm has joined forces with Enterprise Ireland to launch a new multi-millon euro fund aimed exclusively at the Irish market.

CORK software company Qumas continued its impressive growth story yesterday as it announced it had secured $10 million (€8m) in funding from two major US venture capital firms.

Irish software company, IT Design has received a $10.5m funding from US based funding firm Fidelity Ventures, which has invested over $300m in similar companies in the past five years.