Trinity Venture Capital has become the first venture capitalist in Ireland to seek a public listing and was yesterday raised €50m after being admitted to trade on London’s AIM and Dublin’s IEX stock exchanges.
The company raised the €50m by placing 33,333,334 new ordinary shares at a price of €1.50 per share. This placing valued the company at €152m.
Funds raised will be used to finance further development of their existing portfolio of companies, fund new investments and support the investment activities of the Group.
So far Trinity has invested in major Irish technology success stories such as Norkom, Aepona and Havok.
The company, which was founded in 1997 is led by a management team that includes CEO John Tracey and executive directors Shane Reihill and Rory Quirke. Non-executive directors include Gavin O’Reilly, John McGuckian and Padraig Riordan. The CFO is John Fagan.
In June 2007, TVCL was ranked by industry expert Cambridge Associates in the top 15pc of all year 2000 non-US and US venture funds in terms of performance.
The company was advised on the Dublin and London flotation by Davy Stockbrokers.
By John Kennedy