MML Growth Capital Partners has launched a new €125m fund that focuses on Irish SMEs.
Backers included Enterprise Ireland, which committed €25m , under the Ireland Government’s Development Capital Scheme, Allied Irish Banks, the European Investment Fund, GoldPoint Partners, and two US subsidiaries of the Cigna Corporation.
Led by Neil McGowan and Rory Quirke, MML Capital aims to invest between €2m and €12m in mid-sized, export-oriented businesses. The fund will provide capital for organic and acquisitive growth, shareholder reorganizations and deleveraging. It will support domestic and international growth of its investments.
Investment areas include traditional sectors such as engineering, food, life sciences, services and electronics.