Frontline Ventures has announced the close of its €60 million Fund II for investing in B2B software companies at the pre-seed and seed stages.

The Dublin and London based VC – led by partners Shay Garvey, Will Prendergast, William McQuillan, and Stephen McIntyre – invests anywhere between €200,000 and €3 million in early stage startups. Investors in Fund II include Enterprise Ireland, Allied Irish Bank, European Investment Fund (EIF), and Ireland Strategic Investment Fund.

This follows the firm’s €50 million fund in 2013 which included exits like Logentries and Orchestrate.io. Its portfolio also includes CurrencyFair and Qstream.

“The pace at which software companies are redefining industries is accelerating. Our first fund has shown us that some of the world’s most ambitious founders are right here,” said Prendergast. “With this Fund II, Frontline is positioned to be the investment partner of choice for ambitious software entrepreneurs building out from Europe to the US.”

“EIF is very pleased to invest in Frontline, one of the key funds in the early stage Irish ICT-sector,” added Pier Luigi Gilibert, CEO of European Investment Fund. “The investment activity of Frontline clearly contributes to a strengthening of the Irish VC and start-up ecosystem and we are happy to be able to support this effort.”

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