The European Investment Fund and Enterprise Ireland have launched a €20m business angel co-investment instrument in Ireland.
EAF Ireland, which will match the investment capacity of approved business angels and other non-institutional investors, will co-invest in Irish-based internationally trading SMEs with investments ranging €250K to €4m over 10 years.
In recent years, business angels have become an increasingly important part of the funding eco-system for Irish SMEs and, in 2015, Halo Business Angel Network (HBAN) supported local business angels made 40 investments totalling €8.8m in the country’s startups and early-stage companies.
EAF Ireland, which will not pay a fee to business angels but will share investment-related costs on a pro-rata basis, will be managed by EIF in cooperation with Mr. Drew O’Sullivan as a local sub-advisor.
FinSMEs
13/06/2016