NDRC-backed ventures raise €37m in follow-on investment in 2014
14 January 2015 | 0
NDRC has surpassed its projections for 2014, with an additional €37 million of follow-on investment going into it’s portfolio of companies last year. NDRC backed start-ups have now cumulatively secured €88 million in commercial follow-on investment from angel and VC investors, and have a combined market capital value of about €220 million.
Companies that have passed through NDRC have created over 500 jobs to date.
NDRC uses an accelerator model through its LaunchPad and VentureLab programmes, providing capital and hands on support for early stage companies.
Among the companies in NDRC’s portfolio achieving significant success in 2014 include: Trinity College Dublin nanotechnology spin-our Adama Innovations; Adaptics (trading as Drop) the first digital scale that hooks up with a recipe platform for baking; and commercial video marketplace Video Elephant.
Commenting on the report, NDRC CEO Ben Hurley said: “This is an excellent outcome for the year where we continue to see significant market value being created by start-up technology companies who are initially supported with our fusion of investment, mentoring and expertise. As a capital investor in these firms, we’re attaining the strategic objectives of our fund to deliver returns through stimulating innovative businesses established by high-calibre entrepreneurs.
“Looking forward to 2015, we will continue to refine our approach to ensure that we unearth, enable and invest in the very best technology start-ups, accelerating their potential to bring products to market and securing funding through our network of investors in Ireland and abroad.”