Irish firm Trinity Venture Capital has announced the closing of a €140m technology investment fund, Trinity Venture Fund II. The funds will be used to invest in early and growth stage technology companies in Ireland.
The company claims that it is the largest dedicated technology investment fund ever raised in Ireland.
The fund will be invested in indigenous Irish companies. “While we do have the ability of invest outside of Ireland, our philosophy is to concentrate on a small number of Irish based operations,” said Carl Schütte, investment director at Trinity Venture Capital.
Seven investments totalling €30m have already been made from the fund in companies including LeT Systems, Network365, Norkom and Sepro. The most recent outlay from the fund was a €7m investment in games company Havok. The company creates and licenses intellectual property that injects interactivity and realistic dynamics into virtual environments. Havok has already worked with some of the biggest names in the gaming industry.
According to Schütte, Trinity Venture Capital plans to announce further investments in the coming months and is actively looking for other investment partners.
By Dick O’Brien
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