Elkstone, a Dublin-based investment company, today (6 April) announced the creation of a new €100 million fund to assist high-potential Irish startups in the seed and pre-Series A phases of their growth to take their businesses to new heights.
Amounts invested via the fund will vary between €1 million and €2 million, with money anticipated to provide a significant boost to startups in a wide variety of businesses that are attempting to expand across the Emerald Isle.
Elkstone founder Alan Merriman said the decision to grow the fund occurred after the business saw the potential of the early-stage industry and sought to capitalize on it, in an interview with The Irish Times.
Merriman said:
“Based on the interest we’ve had, we are going to do a first close now and we are going to target €100m by the end of the year. We think for the ecosystem, getting to €100m makes a lot of sense.”
