DUBLIN – Trinity Venture Capital, part of the Reihill Venture Capital Group, has unveiled the largest technology fund in Ireland to date. Trinity Fund II has raised a total of E100 million ($89.4 million), over four times the size of its first E24 million fund, launched in 1999.
Trinity invests primarily in Irish companies, both in the Republic of Ireland and Northern Ireland and can invest up to E15 million in any one transaction from its own resources. The fund specializes in early- and growth-stage technology companies, in particular product-based companies.
Investors in Trinity Fund II include AIB Bank, AIB Investment Managers, Arnotts Staff Pension Fund, Bank of Ireland Asset Management, Eircom Superannuation Fund, Iberian Investment Managers, Irish Life, Montgomery Oppenheim and the Reihill Family.
The fund has already made three investments since October 2000: a $17 million commitment with Goodbody Stockbrokers in Norkon Technologies; a $13.5 million round in Network 365 with Amadeus and Jafco; and a $4 million commitment to ChangingWorlds with Flanders Language Valley Fund.
Trinity Venture Capital has a team of eight, including six investment professionals. John Tracey, chief executive of Trinity, said: “This is a strong vote of confidence in the long-term potential of the Irish technology sector. We continue to see a large number of high quality, early stage technology companies in Ireland.”