The European Investment Fund, alongside leading Irish financial partners, is pleased to back the University Bridge Fund II, to help deep tech spin-off companies expand and innovate to solve energy efficiency, sustainability and healthcare challenges. My Department is committed to joining the dots - we know that accessing the skills, expertise and technologies developed in the publicly funded research sector can enable businesses to develop faster and work smarter, set new standards, grow jobs and stay ahead of the competition."Īlain Godard, Chief Executive Officer at European Investment Fund said: “Atlantic Bridge has a unique track record of scaling technology transfer and turning Irish world-class research into commercial success and jobs. Translating this research and innovation into real-world impact and investment is a critical platform on which much of Ireland’s economic and social development is built. Simon Harris, Minister for Further and Higher Education, Research, Innovation and Science said: "Ireland’s higher education institutes are delivering world class research. With over 80 portfolio companies and global investment teams located in Europe, the US and Asia, Atlantic Bridge has a track record in scaling several of Ireland’s largest technology companies including Decawave, which was acquired by Qorvo in 2020 and Movidius which was acquired by Intel in 2016. Through an established global platform, Atlantic Bridge continues to back companies from seed stage through to IPO applying a proven scaling model and focused commercial value-add, to give entrepreneurs the very best chance of success. This latest fund brings the total amount of capital under management by Atlantic Bridge to over €1 billion across eight funds. This latest fund will invest in deep-tech companies with a keen focus on how technologies such as artificial intelligence, robotics, IOT, quantum computing and healthtech can make an impact to areas of global concern such as energy efficiency, sustainability, carbon reduction and healthcare. They are, the European Investment Fund, Enterprise Ireland and AIB, together with Trinity College Dublin, University College Dublin and the welcome addition of new investor and University partner University College Cork.Įnterprise Ireland’s €20 million commitment to the fund reflects its key strategic aim of commercialising Irish third level research into globally scalable businesses which have the potential to create over 1,000 high quality jobs, stimulate exports and attract international investment. Reaffirming the huge potential of cutting-edge Irish research existing investors are re-committing to University Bridge Fund II. As of result of achievements to date, the University Bridge Fund ranks fourth within the world’s Top 5 collaborative University Funds and is a part of a growing trend of successful university funds located at international research hubs including Cambridge, Oxford, Stanford and Harvard. Following this trajectory both Funds have the potential to attract up to half a billion euros of investment into high growth companies.įund I portfolio companies attracting significant international investment include Neurent Medical, Siren.io, CroiValve, Manna and Ireland’s first quantum computing company Equal1. University Bridge Fund II 2021 follows on the path of the pioneering University Bridge Fund I from 2016 which has invested in over 30 deep tech companies that have raised over €220 million in co-investment to date. Enterprise Ireland €20 million investment to support creation of >1,000 jobs over the next 5 years through commercialisation of research into global businesses.Investment focus on deep-technology companies including sectors such AI, robotics, quantum, healthtech addressing areas of global concern such as energy efficiency, climate, carbon reduction and healthcare.Scaling cutting edge science and innovation via proven Atlantic Bridge global value creation model.
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