ICC Bank Venture Capital has invested in two companies in the Republic and Northern Ireland.
A Dublin biotechnology company, Biotrin, and the J.P. Corry Group, a timber and builders' supplier in Belfast, yesterday announced that ICC Bank was among a group of investors to put equity finance into their businesses.
Biotrin, which develops testing systems for the assessment of organ damage, particularly in liver and kidney transplant patients, has raised £3.5 million in equity financing from a group of investors led by the Delta Partners' venture capital group which included ICC Bank.
Other funds were raised from the New York Life Insurance Company and the state agency, Forbairt, the company announced.
In the North, ICC Bank joined a £7.1 million debt and equity investment package for the J.P. Corry Group, led by a Belfast businessman, Mr Ansley Tolland.
Mr Tolland, who provided some of the equity finance, will become group chief executive. The Glasgow office of the investment capital group, 3i, also took an equity stake in the company with ICC Bank.
Bank of Ireland, it said, will provide the Corry group with some debt finance and working capital facilities.
J.P. Corry employs 180 people in Belfast, Ballymena, Bangor, Downpatrick, Lisburn and Dublin. Last year it reported a turnover of £30 million.
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