The Bank of Ireland Kernel Capital Growth Fund and Infinity Capital have led a €3m investment in Corlytics, a Dublin based world leader in regulatory risk intelligence.
This investment of €1.65m by Kernel Capital brings its total investment in the firm to €1.9m. The investment also includes €750k from Infinity Capital and €500k from private investors.
Kernel Capital is an independent manager of the Bank of Ireland Kernel Capital Venture Funds, comprising of €210m / £165m of funds raised through six separate venture capital funds in the years 2002, 2006, 2007, 2009, 2013 and 2015.
These Funds are supported by Bank of Ireland, Invest NI, Enterprise Ireland, University of Limerick Foundation, NUI Galway Foundation and New York State Common Retirement Fund.
Corlytics aids financially regulated firms, regulators and their professional advisers in uncovering and predicting avoidable compliance and operational risk within the financial markets. Their proprietary data and real-time technology empowers their clients to predict, benchmark and perform analytics on costly regulatory breaches.
The company has a global team operating from Dublin, London, Boston & New York and is a combination of legal and regulatory experts, proven securities, risk practitioners, data scientists and technologists.
Partner and Chief Operating Officer at Kernel Capital, Ger Goold said, "Corlytics' solution is central to today's global regulatory risk environment. We look forward to continuing to support CEO, John Byrne and the team as they build on their significant market success to date and continue to scale internationally."
Source: www.businessworld.ie
