A new investment network with up to $2 billion (€2.32 billion) funds under management, has arrived in the Republic. E-start gives technology entrepreneurs access to European venture capitalists.

It helps entrepreneurs kickstart their technology ventures by providing hands-on advice and support, plugging them into a network of service providers and preparing them for funding.

E-start claims to have 11,000 entrepreneur members online and has signed deals with 10 venture capital firms, including the Irish venture capital firm, Delta Partners, which has some $100 million under management.

E-start will work closely with the e-commerce nursery in the Republic, Businessincub ator.com, backed by Cisco, Horizon Open Systems, Oracle and Wolfe Group.

Set up in October 1999, the network is already established in four countries across Europe - Germany, Britain, France and Italy. It hopes to overcome the fragmented nature of Europe's markets by breaking across borders and tapping local expertise.

Mr Tom Rourke, E-start's country manager for Ireland, said Ireland was a thriving centre of new economy activity and E-start would enable quick access to "smart money" and connections throughout Europe.

E-start's business model aims to generate revenue by securing co-investing rights for up to 25 per cent of its venture capital partner's investment. So far the network has invested in several firms including the business-to-business start-up.

But E-start's co-founder and chief executive, Mr Jamie Mitchell, said yesterday the firm was looking at several other possible revenue streams. These include a "white label" advisory scheme to assess potential venture capital deals for large corporates.

E-start is backed by a sister company, Vesta Group, headed by co-founder of E-start Mr Uday Khemka.