Atlantic Bridge, a Dublin and London-based technology-focused private equity firm, has held the first close of its second fund at €85m.
Atlantic Bridge II will target opportunities in Irish and European Middle Market Technology assets investing primarily in late-stage venture capital, growth equity, expansion capital and small to mid-sized buyouts. It will focus on assets in the communication technology, semiconductors and software sectors.
The fund will make investments of between €5m and €20m in Middle Market Technology companies and will also consider companies in the U.S. that have a sizeable Irish and European presence or substantial plans to expand into Europe.
The new fund, which will be managed by the existing Atlantic Bridge investment team, is backed by the European Investment Fund, the National Pensions Reserve Fund (NPRF), Enterprise Ireland (EI) and other private investors.