Act Venture Capital, a Dublin, Ireland-based early-stage venture capital firm, reached the first close of its €140m sixth fund, ACT VI.
Over 80% of the fund is already committed with the final closing is planned for later this year.
ACT VI has a broad investor base built over multiple funds, combining leading institutional investors including European Investment Fund, Ireland Strategic Investment Fund, Enterprise Ireland, and AIB, together with a focused group of entrepreneurial family offices providing both valuable strategic support and co-investment capabilities.
The new fund will target investments into 35 companies across technology sectors and highlights areas of interest in AI/ML, Enterprise, Deep Tech, Health, and Energy & Climate. Act can be the first cheque in and can invest up to €10m into any one company. The fund is positioned as a long-term partner to support founders from seed through several expansion rounds, with the capacity to add significant additional co-investment through its institutional investors and extensive family office base.
ACT VI recently completed its first Series A investment into Conjura which offers real-time data analytics across the entire ecommerce operation on a single cloud-based platform.
The fund has also partnered with Enterprise Ireland to establish a Seed Sidecar Fund which has already completed four seed deals into Plasmabound, Trustap, Clearword and Inferex.
Led by John Flynn, Debbie Rennick and John O’Sullivan, Act is one of the most active early-stage investors in the Irish market. The current portfolio comprises of 47 companies including Ekco, Gridbeyond, Cubic Telecom, Deciphex and Provizio. The firm has had 20 exits in the last 5 years, including SilverCloud Health (acquired by Amwell), Decawave (acquired by Qorvo), Corvil (acquired by Pico) and Ocrex (acquired by Sage).
FinSMEs
14/06/2022