AIB fund invests in 13 start-up and early-stage companies in 2012
The €53 million AIB Seed Capital Fund invested in 13 new start-up and early-stage companies in 2012, bringing its total number of investments during the year up to 31.
The fund, which was set up under the the Seed and Venture Capital Programme 2007- 2012 , is run as a joint venture between Enterprise Ireland and AIB bank.
In total it invested €6.2 million in new and existing investees in 2012.
New companies supported by AIB’s fund during the year included Cloudium Systems in Limerick, which provides hardware and software solutions for remote rich media applications,
It also funded Surgacoll Technologies in Cork, which makes bone and cartilage tissue regeneration and repair products.
Looking ahead, Denis Marnane, chairman of the fund, said that he expected the rate of investment to continue in 2013.
He said that the fund managers were currently seeking new investment opportunities. These opportunities would be across a wide range of sectors.