VC firms make €3.8m on Farran sale

Venture capital firms Kernel Capital and Delta Partners each made a €3.8 million gross profit from the buyout of Farran Technology in Cork for €24 million.

The two funders had invested €765,000 each in Farran, and each held a 19 per cent stake in the company. Those stakes were valued at up to €4.56 million each by the buyout of Farran by Smiths Group, a British firm.

Smiths is paying an initial €19 ...