Investment News


28
May 14

DMS Offshore Investments to Create 50 New Jobs in Dublin

The world’s largest fund governance firm DMS Offshore Investment Services is to create 50 new jobs in Dublin at its new European operations centre.

The company intends to create 50 new roles in fund governance and risk management as part of an investment supported by the Government and IDA Ireland.

DMS established its Dublin office in 2008 to provide fund governance services to fund promoters, taking advantage of Ireland’s status as a globally recognised international financial services centre with a highly skilled and educated work workforce.

In 2012, the firm added a Management Company service to assist promoters who needed to comply with the Alternative Investment Fund Managers Directive (AIFMD).

AIFMD is an EU directive which will bring enhanced governance and monitoring of EU-domiciled Alternative Investment Funds (AIFs) and non-EU Alternative Investment Funds (AIFs) being marketed to European investors. The new legislation comes into full effect on July 22, 2014.

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13
May 14

Trump: I’m bringing Hundreds of Jobs — and yes, I’ll be a friend of the Snail

DONALD TRUMP HAS landed in Ireland, vowing to bring “hundreds” of jobs over the next few years in Co Clare, and promising environmentalists that he will, in fact, be a friend of the ‘Vertigo angustior’ — the microscopic snail that has hampered the development plans of Doonbeg golf resort’s previous owners.

The Trump Organisation snapped up the luxury hotel and golf course for a knockdown price of €15 million in February — and the US businessman told reporters at Shannon Airport this morning that he was planning to “at least double or triple” that investment as part of his initial plans.

He also said he would work closely with environmental authorities on the redevelopment of the Greg Norman designed course — which was badly damaged in the recent winter storms.

The 67-year-old billionaire — best known in recent years for his role as host of The Apprentice, and his ‘birther’ campaign against Barack Obama — caused a stir among tourists and workers at the airport, as his customised 757 swept in from the west shortly before 8am.

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13
Apr 14

New Ryanair Cologne Base Will Create 700 Jobs and Five Routes

RyanairBudget airline Ryanair will create 700 jobs and five new routes when it opens a new base at Cologne in October.

The Irish firm plans to invest more than $90m (€ 64m, £53m) at the German airport and open routes to Dublin, London Stansted, Madrid, Riga and Rome Ciampino.

The move, which will deliver more than 700,000 customers per year for the airline, will see Ryanair conducting 86 weekly flights.

“The state of North Rhein Westfalia is an important part of the European economy and we want to support bringing business travellers to do business, as well as tourists who want to visit a wonderful part of Germany,” said Kenny Jacobs, chief marketing officer of Ryanair.

To celebrate the announcement Ryanair said it is releasing 100,000 seats on sale from €19.99 for travel in May and June, which are available for booking until midnight 14 April.

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22
Dec 13

Rupert Murdoch Pays €18m for Mark Little Company “Tracking Social Media”

Mark LittleFORMER RTE presenter Mark Little is celebrating after selling his social media company to Rupert Murdoch’s News Corp for €18m.

The former ‘Prime Time’ anchor and RTE Washington correspondent had a celebratory lunch yesterday with other investors following the sale of Storyful, which is believed to have netted Little about €6m.

While he is now a rich man, he admitted that he had a few narrow escapes and came close to closing the firm. “(The company) nearly went bust a couple of times; we’ve seen what it would look like to fail,” he told the Irish Independent yesterday.

Other early investors include serial technology backer Ray Nolan, who sold his Hostelworld business for €220m, and ‘Dragon’s Den’ star Sean O’Sullivan’s investment firm SOS Ventures. State investment outfit Enterprise Ireland and venture capital group ACT also invested in the business.

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8
Dec 13

The secrets of making the perfect pitch to investors

Catherine Moonan is upstaged by her youngest daughter Ella.  Know your audience, your market and your competitors, writes Catherine MoonanFROM California to Dubai, and Dublin in between, venture capitalists (VCs) are all looking for something slightly different in an investment pitch. It’s no harm for Irish tech start-ups to research their audience. In fact, it’s one of the first things you should do when pitching or presenting.

Tom Dyal is managing director of Redpoint Ventures, based in Menlo Park, California.

“Redpoint currently manage funds of $3.4bn,” says Dyal, “investing anywhere between $250k and $10m in start-ups.”

According to Dyal, presentation style is an important part of a pitch.

“I’m not looking for a polished, rehearsed pitch. I’m looking for a clear communicator, a clear thinker with the right background for the opportunity. Someone who comes across as very capable of building a successful company,” he says.

As regards the structure of an investment pitch, Dyal says he prefers to hear the following basics: “High-level concept, team background (and the fit for concept), target market and size, product details, go-to-market strategy, competition, financial plan (and not a return on investment, as who knows what the company will be eventually worth?).

“The biggest mistakes that people make in a pitch are using too many slides, giving content which is too detailed for a first meeting and not explaining clearly why now is the right time to start this company.”

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8
Dec 13

A golden opportunity for start-ups as €500m up for grabs

Taoiseach Enda Kenny and Kealan Lennon of CleverbugRoisin Burke takes a close look at the Irish VC scene – the funds, the people behind them and the companies they’re putting money into.

SIX Irish venture capital players will be vying to raise chunky funds next year to invest in promising companies – making our piece below on pitching to VCs particularly timely.

Following a big summer funding call, Enterprise Ireland (EI) has picked Atlantic Bridge, Delta Capital Partners, and ACT Venture Capital along with life science specialists Fountain Healthcare Partners, Seroba and one other fund to receive around €15m each from its coffers if they match that with multiples of cash they raise themselves – at least €55m each. Several plan to raise much more than that.

Creating a potential investment pot of close to €500m, it’s a golden opportunity for hungry start-ups and established companies with ambitious plans to get capital.

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18
Nov 13

Dragon Fires up €1.5m Finance for New Cloud-Computing Venture

Cisco kid returns to Cork with a ‘three Cs’ formula for making Ireland the next Silicon ValleyDragons’ Den’s Barry O’Sullivan has funding locked and loaded for his new software venture, launching next year.

O’Sullivan and two partners are believed to have raised €1.5m for the cloud computing and data analytics business-to-business venture. The finance is a mix of Irish and Silicon Valley investor backing and founder money.

O’Sullivan has run several global divisions of Cisco and is in charge of a €2bn-a-year voice business at the computer network equipment giant, working between Galway and Silicon Valley.

He departs Cisco early 2014 to start his own venture, with one Ireland-based and one Silicon Valley-based co-founder.

The company’s R&D and engineering base will be in Galway, with an ambition to hire 10-20 people – mainly software engineers – there during 2014. There will be a sales and marketing office with around five staff in California.

“I’m really excited about it,” O’Sullivan said. “I want to build up a company and take it all the way to IPO. In 2014 is going to be all about finishing building the product.” O’Sullivan has invested in several firms both within and outside of the RTE show Dragons’ Den where he is a judge.

Applications are flowing in ahead of a new series of the show airing early in 2014.

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17
Nov 13

Entrepreneur Calls for Tax Incentives

National Pensions Reserve Fund director Eugene O'Callaghan, Irish Stock Exchange CEO Deirdre Somers, and Department of Finance general secretary John Moran at the ISE-organised conference.  Picture: Colm Mahady There has to be more tax incentives to promote investment in Irish companies so they can grow in scale, according to technology entrepreneur Joe Hogan.

He argued that Ireland is at a competitive disadvantage compared with other jurisdictions, particularly the UK, that have much more favourable regimes for investment in indigenous companies.

Mr Hogan was speaking at a conference organised by the Irish Stock Exchange looking into getting better access for funding for Irish entrepreneurs. He is one of two founders of Openet, which now employs 1,000 people.

He added that for small tech companies, one of the favoured methods of retaining staff in the early days was to offer share options. But under Irish law, these are taxed as benefit-in-kind payments, which can put a huge burden on small companies that have little capital.

It would be much more advantageous to move to the Israeli model, that allows all tax obligations to be paid when the company makes an initial public offering.

Moreover, he wants the Government to reform the capital gains tax regime.

The secretary general of the Department of Finance, John Moran, who was speaking at the conference, acknowledged Mr Hogan’s points. “It is appropriate that we have a discussion about these issues.”

It was not possible to rebuild the economy by just focusing on foreign direct investment. “There is a need for indigenous companies across all sectors, not just in technology. The challenge then is for them to keep going rather than sellout.”

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22
Oct 13

Government finds €23m to fund 12 Technology Gateways

Enterprise Ireland (EI)Irish Innovation: With no shortage of  tax funds as the Government desperately needs to show success in its flagship enterprise policy (or more accurately, its only one), €23m has been allocated to fund 12 so-called Technology Gateways, across the country.

Enterprise Ireland in partnership with the Institutes of Technology has established a nationwide network of 12 Technology Gateways whose “role is to deliver technology solutions through collaboration on projects which are close to the market needs of Irish industry. These Gateways are open access points for industry and will act as a portal to a wider resource of industry relevant expertise in the Irish research infrastructure.”

What is the benchmark of success or failure? Of course, there isn’t one.

Finfacts: Irish Innovation: Evidence of science policy failure mounts

Seán Sherlock, minister for research & innovation, will be in Thomond Park, Limerick, Monday to inaugurate the 12 Technology Gateways located in 8 Institutes of Technology; Athlone IT, Cork Institute of Technology, Dublin Institute of Technology, IT Tallaght, IT Tralee, Letterkenny Institute of Technology, Limerick Institute of Technology and Waterford Institute of Technology.

The official statement says: “Designed to act as the ‘R&D arm’ of companies, the Technology Gateways will focus on delivering technology solutions through collaborative projects with the research teams in the Institutes of Technology.

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14
Oct 13

€100k in Investment on offer for Science Start-ups as NDRC VentureLab opens First Full Programme

€100k in investment on offer for science start-ups as NDRC VentureLab opens first full programme

NDRC has announced that Ireland’s first science venture accelerator, NDRC VentureLab, is open for applications for its first full programme, which will begin in the New Year.

NDRC VentureLab is targeted at supporting ventures where the nature of the proposition requires a greater depth of science, tech or intellectual property.

It is a deeply experiential programme that takes place over six months and provides investment of up to €100,000.

Interested individuals and teams are invited to visit NDRC on Crane St tomorrow between 10am and 1pm where they can find out more at the NDRC VentureLab Open Day. Ventures that participated in the pilot NDRC VentureLab programme will be on hand to discuss their experiences and the benefits they have gained over six months.

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