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Investment
SMEs encouraged to apply for €75 million fund
The fund is looking for companies which have the scope for job creation and export growth.
A NEW FUND is offering Irish SMEs the chance to receive part of a €75 million capital investment fund.
The BDO Development Capital Fund, which will be managed by Development Capital, a 100% subsidiary of BDO, will invest development and growth capital in established, mid-sized and profitable companies to support and accelerate their export growth plans.
The fund brings together industry experts who, together with Enterprise Ireland, will provide not only funding but also the necessary experience, expertise and international reach to assist businesses.
Corporate partners to the fund include Bank of Ireland, CRH, Glanbia and Glen Dimplex.
The fund will be targeting Irish companies that have the scope for job creation and export growth.
Typically companies will be mid-sized, with annual turnover of between €15million and €50million.
It is likely that the majority of investments will come from the food and agriculture and life sciences and clean technology; ICT/software and industrial/engineering sectors.
Minister for Jobs Richard Bruton said the fund is a key component of the Action Plan for Jobs.
“This new €75 million fund from BDO is a major addition to the supports available to this hugely important sector. Not only will it invest sums of between €2 million and €10 million in 15 of these companies, but it will also provide access to mentoring and other expertise from people who have done it before.”
Sinead Heaney, founding director of the BDO Development Capital Fund, said the company “are confident that this unique approach will leverage the strengths and expertise of all our partners delivering real market results in terms of increased export sales and job creation”.
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