VC firm Atlantic Bridge has reportedly closed a major investment round ‘in the region of €100m’, which bodes well for Irish start-ups.
According to the Irish Independent, Atlantic Bridge’s latest funding round is a big one, with the Elaine Coughlan-led organisation a key supporter of start-ups in Ireland.
Last November, it was reported that the VC firm had a fund size of around €200m, with investments ranging anywhere from €2m to €10m.
Upping that total pot by 50pc is significant, with Coughlan previously outspoken in her criticism of the outlook for start-ups in Ireland.
The high rate of capital gains tax, in particular, came in for attack, while the firm’s general investments do stretch beyond our borders, with offices in London, Beijing, Hong Kong and Silicon Valley.
Some of the start-ups that Atlantic Bridge has already invested in include Quixey, Openmind, 3D Robotics and Swrve, the latter of which has expanded to such a degree that its making acquisitions of its own.
Interestingly, outside of Ireland, the start-up ecosystem is evolving at pace. Last week, the Collison brothers’ Stripe launched a new platform called Atlas that makes it easier for international entrepreneurs to create start-up businesses in the US.
The idea is that, while the internet is borderless, the reality is that selling across borders is a bureaucratic nightmare. Atlas reduces the process down to a single web form.
Main start-up image via Shutterstock