Digital Irish has established the Digital Irish Venture Fund (DIVF) which aims to support Irish entrepreneurs scaling internationally.
Digital Irish has established the Digital Irish Venture Fund (DIVF) which aims to support Irish entrepreneurs scaling internationally. The size of the fund is understood to be $1m and is focused especially on Irish businesses entering the US market.
According to the organisation which is committed to fostering the growth of Irish start-ups, the Digital Irish Venture Fund seeks to harness the global Irish diaspora network to provide capital and strategic support to promising Irish enterprises.
“This fund offers entrepreneurs the capital, connections, and expertise they need to succeed on a global stage”
The new fund was announced in the midst of an Enterprise Ireland and IDA Ireland investment mission to the United States. Exports from Ireland to the United States increased by almost 60% in the past five years. North America now accounts for 19% of all exports by Enterprise Ireland backed companies.
By focusing on startups that demonstrate potential for international growth and innovation, the DIVF aims to catalyse Irish business success on a global scale.
Build it and they will come … to America!
The founding investors in the fund bring a diverse array of expertise and success across various tech and finance sectors. They include leading tech entrepreneurs, veteran investors, and influential corporate executives who have shown a deep commitment to fostering innovation and entrepreneurship.
The fund’s investment committee comprises seasoned professionals with a wealth of experience in scaling businesses. The committee includes: Feargall Kenny: Founder of Glenborn Executive Search; Lindsay Browning, director of Enterprise Account Management at Monday.com; Marius Smyth, CRO of CallRail; Darragh O’Flaherty, managing director of Blue Owl Capital; Rael McNally, managing director of Fortescue Capital; and Paul Murphy, CEO of 3Advance.
Marking its launch, the Digital Irish Venture Fund is also announcing its first investment, joining Trustap’s Series A round led by TX Ventures. Trustap is a digital transaction platform that completely protects you from being scammed when you’re transacting with someone you don’t know.
Funding applications are now open, with the Digital Irish Venture Fund inviting ambitious Irish startups to join their mission to achieve global impact. Details regarding application procedures and funding criteria can be found on the Digital Irish Venture Fund website.
Marty Loughlin, an accomplished software industry leader with extensive experience in nurturing startups, will head the Digital Irish Venture Fund. Under his leadership, the fund is positioned to make impactful contributions to the international success of its portfolio companies.
“The DIVF embodies Digital Irish’s unwavering commitment to Irish entrepreneurship,” said Marty Loughlin. “We are building a bridge between Ireland’s dynamic startup ecosystem and the vast resources of the Irish diaspora.
“This fund offers entrepreneurs the capital, connections, and expertise they need to succeed on a global stage, while also presenting investors with a unique opportunity to engage with Ireland’s thriving innovation landscape.”
Main image at top: Enterprise Minister Peter Burke, TD, with head of DVIF Marty Loughlin
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