Dublin-based venture capital firm Delta Partners has announced the launch of a €70 million fund to target seed and early-stage startups. Aimed to plug the gap that exists for early-stage companies, the fund will invest in 30 Irish startups over the next three to four years and contribute to some Series A rounds as well.
The Bank of Ireland and Enterprise Ireland are the main investors in the fund so far, with Fexco and several private family wealth funds also involved. It now plans to add new investors over the coming year to reach its €70 million targets.
The company is also adding two new partners to its team, with Amy Neale joining from Mastercard, where she worked with fintech-focused innovation teams, and Digit Games founder Richard Barnwell. They will join existing partners Maurice Roche and Dermot Berkery.
“This fund is aimed directly at the funding gap for early-stage companies in Ireland,” said Dermot Berkery and Maurice Roche of Delta Partners in a joint statement. “Great Irish entrepreneurs are succeeding across the technology spectrum and the main thing they lack is capital to help them to achieve their ambitions. Our two new partners, Amy and Richard, bring incredible skillsets to help these entrepreneurs along their journeys. We are delighted to have the support of Bank of Ireland, Enterprise Ireland, Fexco and the family offices of some of Ireland’s most successful technology entrepreneurs.”