The Ireland Strategic Investment Fund (ISIF) has committed €22.25m to a fund for high-growth potential technology businesses.
The fund is being established and managed by Molten Ventures, which will commit €27.75m to the fund.
It will have commitments of €50m at first close with scope for further expansion and syndication.
"We have always been invested in the success of high-growth technology businesses in Ireland, which is a key European centre for the global technology industry," said Martin Davis, Chief Executive Officer, Molten.
"The launch of our new Irish focused fund continues our long-standing relationship with ISIF as a strategic partner and enables us to continue to back promising Irish technology companies and visionary founders inventing tomorrow," he added.
Nick Ashmore, Director of ISIF said this investment is part of ISIF's focus on scaling indigenous businesses.
"The co-investment from Molten Ventures is a strong indication of its commitment to Ireland and the businesses that will benefit from this type of funding.
"We look forward to seeing the businesses invested in reach their full potential as they grow and evolve in the future," he said.
