Sure Valley confirms first close of €50m tech fund for Irish start-ups

Company has secured an initial €30m from backers that include Enterprise Ireland

Sure Valley Ventures managing partner Barry Downes

Sure Valley Ventures has announced the first close of a planned €50 million new fund to back Irish tech start-ups.

The venture capital fund founded and led by Irish entrepreneur Barry Downes, has secured an initial €30 million with Enterprise Ireland providing €15 million of this through its Seed and Venture Capital Scheme. The fund intends to invest in 15 Irish start-ups in the coming years.

Details of the fund were first revealed in the Business Post last year.