TLDR:
Digital Irish has launched a new $1m venture fund for Irish entrepreneurs looking to scale their companies abroad. The fund, managed by Marty Loughlin, aims to provide capital, connections, and expertise to start-ups from Ireland. The fund’s investment committee includes industry experts, and its first investment was in Cork-based fintech Trustap.
Digital Irish launches new venture fund for start-ups from Ireland
Launched during a trade mission to the US led by Minister for Enterprise Peter Burke, the fund’s first investment was in Cork-based fintech Trustap. Digital Irish, a non-profit networking group for start-ups from Ireland, has established a new $1m venture fund for Irish entrepreneurs looking to scale their companies abroad.
The Digital Irish Venture Fund, a for-profit legal entity, aims to provide capital, connections, and expertise to start-ups from Ireland, leveraging the extensive network of the Irish diaspora. Managed by Marty Loughlin, an investor and software engineer, the fund seeks to bridge Ireland’s start-up ecosystem with the resources of the Irish diaspora.
Details of the fund were revealed during a trade mission to the US led by Minister for Enterprise, Trade and Employment Peter Burke, TD. The fund will invest between $100,000 and $150,000 in each start-up and provide access to a network of industry experts, partners, and mentors beyond financial support.
The fund’s investment committee includes well-known names in the industry such as Feargall Kenny, Lindsay Browning, Marius Smyth, Darragh O’Flaherty, Rael McNally, and Paul Murphy. The first investment made by the Digital Irish Venture Fund was in Cork-based fintech Trustap, which recently raised $5.5m in a Series A funding round.
Applications for the fund are now open on the Digital Irish website, offering Irish entrepreneurs the opportunity to receive support and investment to scale their companies globally.
