In a strategic move to fortify Ireland's tech landscape, venture capital firm Molten Ventures unveils a new Irish-focused fund fueled by investment from the Ireland Strategic Investment Fund (ISIF). With an impressive first close at €50 million and potential for further growth through syndicated partnerships, the fund sets its sights on empowering high-growth technology companies in the Republic.
Molten Ventures' visionary initiative seeks to propel Ireland's tech sector to new heights by announcing its dedicated Irish-focused fund. Supported by existing shareholder ISIF, the fund will concentrate on nurturing high-growth technology companies in the Republic, fostering an environment ripe for innovation and success.
The fund's inaugural close stands at an impressive €50 million, presenting an enticing prospect for further expansion through collaborations with syndicated partners. Molten Ventures demonstrates its dedication to the cause by committing a substantial €27.75 million as a 55.5% Limited Partner (LP), while ISIF contributes the remaining €22.25 million.
With a decade-long presence in Ireland, Molten Ventures has already made significant investments in promising companies like Movidius, Manna,Sweepr &Open, and Vaultree. The newly established "focused fund" will bolster the VC's commitment to supporting and strengthening its portfolio of Irish startups across the island.
Martin Davis, Chief Executive Officer of Molten Ventures, emphasizes the firm's longstanding involvement in Ireland's tech success story. Recognizing Ireland as a key European hub for the global technology industry, the launch of the Irish-focused fund marks a new chapter in its partnership with ISIF. Molten Ventures remains steadfast in its mission to back visionary founders and promising Irish technology companies shaping the future.
With the launch of its dedicated Irish-focused fund, Molten Ventures solidifies its position as a driving force behind Ireland's thriving tech ecosystem. The significant first close at €50 million, supported by ISIF and potential syndicated partnerships, underlines the firm's commitment to empowering high-growth technology companies in the Republic. With an impressive track record of investing in innovative Irish startups over the past decade, Molten Ventures is poised to further enrich Ireland's startup landscape. As they continue to nurture visionary founders and inventors, the future holds great promise for the Irish tech industry, with Molten Ventures at the forefront of driving its growth and success.
