Sure Valley plans to invest in 15 software companies from across the Republic of Ireland through this new fund. The team has offices in Waterford, Dublin, London, Cambridge, and Manchester.

 Last year it announced an £85m UK software fund backed by the British Business Bank in 2022. This new Irish Fund will follow the same investment strategy. Sure Valley said it plans to expand its regional focus to work with start-ups in 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 and cybersecurity firmSmartech 247, which Sure Valley helped IPO on the London Stock Exchange in December. It has also supported Waterford-based firm Cameramatics which operates in fleet telematics and Metaverse enterprise tech company Engage XR.

Sure Valley Ventures Managing Partner and Co-Founder, Barry Downes, said they understand the challenges that start-ups face for funding in the current climate. "We believe it is still a great time for software founders to build a business in Ireland with lots of opportunities available," he said.

"With our regional presence in Waterford and strong track record in Ireland, we are well positioned to find innovative new companies across the country and through our Platform offering and strong adviser network, help them scale and grow in international markets.”