Sure Valley Ventures, a founder-led venture capital firm that invests in high growth AI software companies in sectors such as Enterprise, Immersive Technologies and Cybersecurity, launched its third fund with a €30m first close to invest in the Republic of Ireland.
This includes a cornerstone €15m investment from Enterprise Ireland (EI) through its Seed and Venture Capital Scheme (2019-2024), which aims to increase the supply of equity capital to high-potential, early-stage Irish companies. Sure Valley is targeting a final close of approx. €50m.
Sure Valley plans to invest into 15 software companies from across the Republic of Ireland through this new fund.
The team has offices in Waterford and Dublin in Ireland, and London, Cambridge and Manchester in the UK, having announced a £85m UK software fund backed by the British Business Bank in 2022.
This new Irish fund will follow the same investment strategy in Ireland as in the UK and Sure Valley also plans to expand its regional focus to work with startups in the exciting innovation clusters that have developed around Artificial Intelligence, Immersive Tech and Cybersecurity throughout Ireland.
Sure Valley has previously invested in a number of innovative regional companies through its 2017 Irish fund, including Cork-based data security company Getvisibility, cybersecurity company Smartech 247, which Sure Valley helped IPO on the London Stock Exchange in December 2022, Waterford-based companies – Cameramatics, a leader in next generation fleet telematics and AI, Metaverse enterprise tech company Engage XR, which Sure Valley helped IPO on the London Stock Exchange in 2018 as well as Dundalk-based Nova Leah an AI leader in cybersecurity for medical devices.
Alongside the equity invested, Sure Valley supports entrepreneurs via its platform, which draws on the team’s knowledge and experience as founders to create a program tailored to each investee company’s individual needs. The platform also features a global network of advisors, based in innovation hubs across the globe, including San Francisco, Silicon Valley, New York, LA, Austin and Seattle in the USA as well as leading European and Asian hubs.