A £10 MILLION venture capital fund has been set up for the Irish software companies. Established by the state agency, Forbairt, and ICC Bank, the fund aims to invest £5 million in Irish software companies over the next four years, the Minister for Enterprise and Employment, Mr Bruton, said yesterday. It will be co-funded by the European Union.

The Minister has appointed ICC Bank to act as manager of the fund, while Forbairt will make public sector investments from part of the monies.