A group of early-stage investors and operators have opened the doors of a co-location hub for high-growth start-ups on South William Street, Dublin. Five companies already occupy the space – dubbed Tribal – and it’s believed all 70 desks will be filled by March.
The five-storey building is owned by Tribal.vc, founded by serial entrepreneurs Conor Stanley, Tadhg O’Toole and Barry Mulligan. It was previously owned by developer Bernard McNamara and was leased by Tribal.vc through NAMA.
Desk rental at Tribal costs €250 per month and the idea is that this can be a home for start-ups graduating from accelerator programmes, such as Wayra and NDRC’s LaunchPad.
Companies already filling seats at Tribal include social news monitor NewsWhip, which last year secured US$1.1m in funding; text donation service Likecharity and health-tech accelerator HealthXL.
According to The Irish Times, Tribal.vc has funds of about €10m raised from angel investors to back start-ups. To date, its investment portfolio includes Likecharity, Cityhook and Pagefair, and three more investments are planned for the coming months.