Atlantic Bridge launches €80m university spin out fund
Atlantic Bridge has launched the University Bridge Fund II, an €80 million fund focused on scaling and commercialising extensively validated research from Ireland’s third level institutions into the next generation of deep tech companies with global potential.
The fund is a partnership between Atlantic Bridge, Trinity College Dublin, University College Dublin and University College Cork designed to accelerate the commercialisation of world class science and to globally scale the companies formed.
In 2016, the first University Bridge Fund invested in more than 30 deep tech companies, including Neurent Medical, Siren.io, CroiValve, Manna and Ireland’s first quantum computing company Equal1.
University Bridge Fund ranks fourth within the world’s top five collaborative university funds and is a part of a growing trend of successful university funds located at international research hubs including Cambridge, Oxford, Stanford and Harvard.
University Bridge Fund II investors including the European Investment Fund, Enterprise Ireland and AIB, together with Trinity College Dublin, University College Dublin. It also welcomed new investor and university partner University College Cork.
Dr Helen McBreen, partner at Atlantic Bridge, said: “At Atlantic Bridge we are committed to developing deep relationships and networks between our Universities and investment and corporate partners creating a vital investment Fund in the Irish ecosystem focused on commercializing our cutting edge deep-tech innovations”
“Enterprise Ireland is committed to developing and sustaining more entrepreneurs, companies and jobs from the research community,” said Julie Sinnamon, CEO at Enterprise Ireland. “We are delighted to be an investment partner in the University Bridge Fund II which will accelerate the recognition of world-class research generated in all Irish third-level institutions and universities, and the scaling of dynamic Irish start-ups with high growth potential. Enterprise Ireland is investing €20 million in the Fund from its €175 million Seed and Venture Capital Scheme (2019-2024), supporting its key strategic objective of commercialising Irish third-level research projects into globally scalable companies.”
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