Minister Martin Launches €100m Delta Partners Fund

02 November, 2007

On Monday 8th October 2007 Minister for Enterprise Trade and Employment Micheál Martin T.D. announced the first closing of a new €100m fund by Delta Partners, called Delta Equity Fund III. The €100m fund is the second to be established under Enterprise Ireland's Seed and Venture Capital Scheme 2007-2012. The first closing significantly exceeded expectations and the fund is targeting further investors for a final closing of €150m.

The fund comprises a €15m investment from Enterprise Ireland and investments from the National Pensions Reserve Fund, Wellcome Trust, and a number of Irish and international financial institutions.

Delta Partners: Delta is one of the forerunners of venture investing in Ireland, having started investing in 1994. The new fund will continue its longstanding strategy of investing across diverse sectors such as business services, software, Internet, semiconductor and medical devices.  Delta's management team, the senior members of which have been together since the 1990s, have demonstrated capability in building and financing early stage technology companies. Delta Partners has raised €100 million to invest in early stage companies in Ireland and the United Kingdom.

Delta has invested in over 50 early stage companies throughout its history, with many successes including Toucan Technology, O'Learys, DRM, Similarity Systems, Pharmagene, County Media and the recently floated AGI Therapeutics. The partners in Delta Partners are Frank Kenny, Shay Garvey, Maurice Roche, Dermot Berkery, Joe Mason, Rob Johnson and John O'Sullivan.

Enterprise Irelands Seed and Venture Capital Scheme 2007-2012

Enterprise Ireland is investing €175m in a new round of Venture Capital funding, which will leverage an estimated investment of €1bn in start-up, early stage and development stage businesses. This scheme was announced in May 2006.

For Further Information Contact:Sarah O'Callaghan,Press Office,Enterprise IrelandT: 01 8082755 M: 087 1253221 sarah.ocallaghan@enterprise-ireland.com

http://www.enterprise-ireland.com/