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| New Fund for Growcorp Founder | ||||
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| Release date: 21 Jan 2010 | ||||
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The founder of the Growcorp venture capital group, Professor Michael Donnelly, has secured €65 million for a new fund aimed at investing in lifescience and green technology companies in Ireland, the UK and Israel. The fund has secured commitments from Irelandia, PwC and two private investors. The fund which is provisionally called'Sabre' is also in talks with the US group, New Hill Management in Boston and the Yozma Group in Israel with a view to increasing the total amount available for investment to €250 million. The original Growcorp investors are participating in the new fund.
Growcorp was the first private company in Ireland with an investment fund targeted specifically at the bioscience sector and has led syndicates in excess of €20 Million to take businesses to product launch. Growcorp's portfolio includes companies such as Merrion Biopharma, NEUtekBio, Gas Sensor Solutions, Pharmatrin, Orakine and Fluorocap. |
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