Capital investor BGF has invested €10.5m to buy a minority stake in Edgescan, a leading Irish cybersecurity business.
This marks the fourth investment which BGF has made in an Irish business in the past 17 months with the combined value of those four investments at over €30m.
Set up in Dublin in 2011 by Eoin Keary and Rahim Jina, Edgescan provides continuous cybersecurity intelligence, assessment and services to both national and international companies.
Its clients include some of the world's largest entertainment, media, financial services, healthcare and retail companies and it employs 57 people in Dublin.
Eoin Keary, founder and CEO of Edgescan, said that having bootstrapped the company to date, they were delighted to have reached this milestone investment from BGF.
"We have ambitious plans to aggressively grow Edgescan with a focus on opportunities in North America, the UK and Europe," he added.
"This is our fourth investment in an Irish business in the past 18 months and the sectors we have invested in range from healthcare to construction to aerospace and now software," Leo Casey, Head of BGF in Ireland, said.
"Despite the upheaval caused by Covid-19 we remain very confident about the Irish market and we are looking forward to investing in more ambitious Irish companies over the course of this year," he added.
Edgescan also said today that former senior IBM executive Bernie Waldron has joined its board as independent non-executive chairman. Mr Waldron is also investing in the business alongside BGF.