Dublin-based technology fund Atlantic Bridge has announced a €140m fund for tech companies across Europe.
The project, which is supported by Enterprise Ireland, is aimed at firms with global market scalability.
The fund, known as ‘Atlantic Bridge III’, is investing in up to 20 European companies, with investments on the verge of already closing in seven firms.
It is focusing on scaling companies in high growth enterprise technology sectors such as Cloud, Big Data, Augmented & Virtual Reality software, Robotics and Internet of Things.
Participants in the new fund include the Ireland Strategic Investment Fund, Enterprise Ireland and the European Investment Fund – which are all existing Atlantic Bridge investors.
AIB is a new investor into the fund and will be the strategic banking partner across all Atlantic Bridge funds.
In addition, new institutional investors including British Business Bank Investments Limited, the commercial arm of the British Business Bank, and a number of institutional pension funds have come on board for the new fund.
Atlantic Bridge has offices in Dublin, London, Silicon Valley, Beijing and Hong Kong and manages assets valued at €400m.
