Atlantic Bridge has closed a €140 million fund for technology companies with global market scalabiliy.
The Dublin-based fund, Atlantic Bridge III, will invest in up to 20 European companies in high growth enterprise technology sectors such as cloud computing, Big Data, augmented and virtual reality software, robotics and Internet of Things.
Participants in the new fund include existing Atlantic Bridge investors, AIB, the Ireland Strategic Investment Fund, Enterprise Ireland and the European Investment Fund, along with new institutional investors, including British Business Bank Investments Limited, the commercial arm of the British Business Bank.
Atlantic Bridge is the largest indigenous Irish and one of the largest European technology funds, with offices in Dublin, London, Silicon Valley, Beijing and Hong Kong. It has led investment of over €100 million in Irish companies. The latest fund brings the total assets under management of Atlantic Bridge to €400 million. Atlantic Bridge also co-manages, with its Chinese partners West Summit Capital, Summit Bridge Capital – a $100 million China Ireland Technology Fund.
Brian Long, managing partner, Atlantic Bridge, said: “We already have a number of pipeline investments identified for the Fund and are confident that this will build on the track record of success of our previous Funds. As a growth equity stage Fund, Atlantic Bridge III will focus on taking companies with a solid and exciting business model to the next level, scaling them into key international markets like the US and China.”
Atlantic Bridge Capital manages over €400 million of assets under management across four Funds, investing in technology companies in Europe. We have offices and staff based in London, Dublin, Silicon Valley, Beijing & Hong Kong. Its portfolio companies include Movidius, FieldAware, PolarLake, Metaio, Swrve and Glonav.
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