UCD and Trinity team up with Atlantic Bridge for €60 million fund

Other investors include the European Investment Fund, AIB and Bank of Ireland

(l-r) Walter Hobbs, Gerry Maguire, Mary Mitchell OConnor, Professor Patrick Prendergast, Professor Andrew Deeks and Mark Horgan

Atlantic Bridge and Enterprise Ireland have announced details of a new €60 million venture capital fund in conjunction with University College Dublin and Trinity College Dublin.

News of the fund was first reported last month in The Sunday Business Post.

Other investors in the fund include the European Investment Fund, AIB and Bank of Ireland.

Atlantic Bridge, thehighly successful Irish private equity firm which is reportedly backed by tycoons Denis O’Brien and Dermot Desmond, is seen as one of the premier Irish venture capital players.