Seed and Venture Capital Scheme 2019-2024

Third Call for Expressions of Interest

Overview

The Irish Government, through Enterprise Ireland, has made €175m available as part of the Seed & Venture Capital Scheme (2019-2024) to stimulate job creation and support the funding requirements of early-stage innovative Irish companies with global ambitions.

Up to €82m may be committed as part of this call, with a maximum of €20m to any individual Fund.

Scheme Objectives

The overall vision of the Seed & Venture Capital Scheme (2019-2024) is;

  • To increase the availability of risk capital for start-ups to support economic growth through the continued development of the Seed and Venture Capital industry in Ireland to achieve a more robust, commercially viable and sustainable sector.

To realise this vision, the objectives include:

  • To encourage and leverage private sector investment into sectors (and stages of development) that find it difficult to secure appropriate funding.;
  • To leverage domestic and international private sector/institutional capital into investment in Ireland;
  • To support the growth strategies of Enterprise Ireland’s sectors with capital and expertise;
  • To maximise the ‘additionality’ that any commitment will bring to the overall sector in terms of both additional capital and expertise in company development;
  • To seek innovative funding solutions that reflect current international best practice.

Objectives of the current call

Under the third competitive call, up to €82m will be allocated to commercially managed funds targeting the Pre-Seed, Seed & Series A/A+ stages, in EI target sectors including ICT, Lifesciences and Industrial.

In addition to supporting our key sectors EI is seeking credible and commercial fund proposals that will help progress key EI Strategic priorities including our Women in Business, Sustainability and Regional Development Strategies.

Expressions of Interest

Enterprise Ireland is seeking Expressions of Interest from Fund Managers with innovative investment strategies that can demonstrate (at a minimum):

  • An ability to secure additional private sector/institutional capital;
  • A strong team and track-record of working with high-growth companies at the earliest stages of development;
  • An innovative fund strategy for early-stage investing.

How will Enterprise Ireland make its investment decision?

All investment decisions will be made on a competitive basis with final approval residing with the Board of Enterprise Ireland.

Those parties submitting Expressions of Interest must be available for interview, if required, by the evaluation team. Interviews will be held during May 2021, with further details to follow for applicants.

How to submit an Expression of Interest?

An electronic copy of the Expression of Interest (including all required information and Appendices) should be sent by email on or before 3pm on 7th May 2021 to:

GrowthCapital@enterprise-ireland.com

Guidelines

For more information, download Guidelines for Expressions of Interest Call 3.
Appendix – ESG & Impact Questionnaire

Key Contacts

Donnchadh Cullinan
Manager, Banking Relationships & Growth Capital Department

Donnchadh Cullinan@enterprise-ireland.com

Claire Carroll
Senior Investment Advisor, Banking Relationships & Growth Capital Department

Claire Carroll