European micro-cap venture capital firm Hoxton Ventures has launched a €5.875 million Irish early stage venture capital fund in partnership with Enterprise Ireland.
Hoxton Ventures is a $40 million early stage venture capital fund designed to bridge the gap between Europe and Silicon Valley. The new €5.875 million side fund will focus exclusively on Irish investments.
The fund also announced two new members to its team: Dylan Collins of SuperAwesome, Jolt Online (acquired by Gamestop) and DemonWare (acquired by Activision); and Vijay Pandurangan, formerly a senior engineer at Google and founder of Mitra (acquired by Twitter).
The announcement forms part of the €700 million Seed and Venture Capital Scheme, supported by the Department of Jobs through Enterprise Ireland.
Julie Sinnamon, CEO Enterprise Ireland, said: “Enterprise Ireland is delighted to commit €2.5 million to the first closing of Hoxton’s Irish Sub Fund. This fund will build on the success of the 2007-2012 Seed & Venture Capital Programme and the addition of a new fund manager to the Irish market represents a great opportunity for our clients. The Hoxton team clearly have a deep understanding of what is required to accelerate web companies to market; investee companies will not only get access to capital but will be immediately connected into networks that provide expertise and rapid access to customers.”
Hoxton Ventures was founded by Accel and Fidelity Ventures alums, Hussein Kanji and Rob Kniaz, and invests primarily in software-driven companies and services. It has made eight investments to date, including Deliveroo, Campanja and Immun.io.
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