New chairman named at Irish Venture Capital Association
Dublin; Wednesday, 22nd August, 2018: Alex Hobbs, fund manager of Dublin Business Innovation Centre (Dublin BIC), has been appointed chairman of the Irish Venture Capital Association. He replaces Peter Sandys, managing partner of Seroba Life Sciences, who has completed his term of office.
Mr Hobbs has managed Dublin BIC’s expansion into developing a commercial seed fund market in Ireland and is fund manager of the AIB Seed Capital Fund.
“Seed funding is critical to developing an indigenous technology sector with international market reach and reducing Ireland’s dependence on overseas investment,” he commented.
Mr Hobbs, who holds a BComm from UCD and an MBA from NUI Galway, has led the development of a 40-company portfolio that has scaled into international markets. Some recent successful exits include iCabbi, sold to international motor group Renault and AIM listed REDT Energy.
The Irish Venture Capital Association (https://www.ivca.ie)
is the representative organisation for venture capital firms in Ireland. Since the onset of the credit crunch in 2008, in excess of 1,400 Irish SMEs have raised venture capital of €4.8bn.
These funds were raised almost exclusively by Irish VC fund managers who during this period: supported the creation of up to 20,000 jobs, attracted over €2bn of capital into Ireland and geared up the State’s investment through the Seed & Venture Capital Programme by almost 16 times.
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