New €40m fund raised for software-only investments

4 Sep 2014

Frontline Ventures, a Dublin-headquartered early stage venture-capital fund, has raised €40m to invest in software-only start-ups.

Frontline Ventures is headed by former Delta Partners founding partner Shay Garvey, who raised €235m in four rounds and invested in more than 25 early stage tech companies.

Other founding team members include former NCB Venture Capital executive Will Prendergast, former CEO William McQuillan and former Tech@NYU president Kim Pham.

According to The Irish Times, Frontline raised the first €20m of the €40m fund at the end of 2013 and has already invested in eight software companies

Frontline, which invests up to €2m in early stage ventures, includes Irelandia, the An Post Pension Fund, AIB and Enterprise Ireland among its investors.

Investments to date include CurrencyFair, Boxever, Qstream, Raising IT, Drop, BoxFish, Orchestrate and Logentries.

Frontline Ventures has also established solid links with other ‘like-minded funds’, including Floodgate, Resonant, Launchpad Venture Group, Polaris Partners and RRE.

Investment image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years