BANK of Ireland has linked with venture capital group, Delta Partners and Forbairt, to launch a £10 million venture capital aimed at small and medium sized companies.

The Bank of Ireland Entrepreneurs Fund will be made up of £2.5 million from Bank of Ireland, £2.5 million from Delta and £5 million from the ERDF through Forbairt. The fund will be managed by Delta and equity investments of £100,000-£500,000 will be made in selected businesses in the technology and food sectors.

Delta managing director, Frank Kenny, said: "The fund's focus was chosen for two reasons: firstly technology and food are the two areas of greatest potential for venture capital in Ireland and secondly, our management team has extensive international investment experience in these sectors."