It was announced today that Finch Capital now have an active presence in the Irish market and are dedicating up to €20 million to Irish start-ups in the fintech sector, following a €10 million investment from Enterprise Ireland.
Finch Capital is an early stage venture capital firm with offices in Amsterdam, London and Singapore.
The fund is focussing on early stage companies in the financial technology and deep tech sectors, including Artificial Intelligence (AI), security and Internet of Things (IoT). Finch Capital recognises the fintech sector as one of the most dynamic areas of venture capital and has made over 25 investments in leading financial technology businesses.
Last year, Finch Capital closed its second fund with commitments of €110 million and today’s announcement follows an investment of €10 million from Enterprise Ireland into the fund, from the Seed & Venture Capital Programme (2013-2018). This will be the first time that the venture capital firm will have a targeted Irish strategy.
Today's announcement was made at Enterprise Ireland’s international fintech event ‘Appetite for Disruption’ today at the Talent Garden, with a focus on showcasing Ireland’s fintech sector capabilities to international financial services buyers.
Making the announcement, Minister for Business, Enterprise and Innovation, Heather Humphreys said, "Venture capital is essential for the growth and development of successful high potential Irish business and I am delighted to announce the introduction of this fund by Finch Capital, supported by the Government through Enterprise Ireland. This fund is very important because it marks a significant increase in the availability of capital for companies in the fintech sector."
Partner of Finch Capital, Radboud Vlaar added, "Finch Capital recognises that Ireland has established itself as a leading European Fintech and technology hub, and we are delighted to be establishing a presence here in the Irish market to support bold entrepreneurs transforming the financial services industry."
Source: www.businessworld.ie