THE AIB Seed Capital Fund, a joint venture between the bank and Enterprise Ireland, added 15 start-ups to its portfolio last year, making 32 investments totalling just over €5 million.
It was an “exceptional” year, said fund chairman Denis Marnane, who noted that the €15 million invested since 2007 had attracted an additional €47 million from other investors.
Portfolio companies in the fund have created 300 jobs.
The AIB fund is typically investing alongside angel investors in start-ups and with institutional investors for follow-on investments. The AIB Seed Capital Fund has now invested €15 million of the €53 million available to it in 45 Irish companies.
New companies backed last year included medical testing firm Crescent Diagnostics, network management outfit Davra Networks and e-learning provider Footbridge Interactive.
