Investment firms Atlantic Bridge Capital and WestSummit Capital have announced the appointment of Summit Bridge Capital to manage the new $100 million China Ireland Technology Growth Capital Fund.
The Fund’s strategy will be to make equity investments in fast-growing technology companies with a presence in Ireland that have a substantial or strategic interest in China, and in Chinese fast-growing technology companies that have a substantial presence or strategic interest in establishing a presence in Ireland as a gateway into the broader European market.
The Fund will target companies operating in core technology sectors such as Internet, software, semiconductors and clean technology and areas of technology for which the Fund’s strategy is uniquely positioned, including but not limited to agriculture, food, medical and financial services.
The Fund will be supported by the National Pensions Reserve Fund and China Investment Corporation.
“Elaine Coughlan, co-founder and general partner at Atlantic Bridge Capital, said: “We are already seeing strong interest from Irish technology companies in the Chinese market and believe this new fund is uniquely positioned to add value to these companies as they scale in China.”
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