Investec plans new €75m venture capital fund for high-growth Irish companies

South African bank hopes to have new funds in place by the end of this year

Emer McGovern, CFO of Fenergo, and chief executive Marc Murphy pictured at the announcement of 200 new jobs in March. The Ulster Bank Diageo fund made an €11.4m profit by selling its stake in the business in 2015. Photograph: Dara Mac Dónaill / The Irish Times

Emer McGovern, CFO of Fenergo, and chief executive Marc Murphy pictured at the announcement of 200 new jobs in March. The Ulster Bank Diageo fund made an €11.4m profit by selling its stake in the business in 2015. Photograph: Dara Mac Dónaill / The Irish Times

South African bank Investec is planning to put together a new €75 million venture capital fund to support early-stage, high-growth Irish companies.

This would be a successor to the Ulster Bank Diageo Venture Fund Limited Partnership, which it set up in October 2008 and is due to wind down its activities next year.

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