Dublin; Tuesday, 31st October, 2006:

Mr Niall Carroll, managing director of ACT Venture Capital, has been elected chairman of the Irish Venture Capital Association. He replaces Mr Des Fahey, chief executive of the Dublin Business Innovation Centre, who has completed his term of office. Mr Carroll is a founder director of the European Venture Capital Association.

The IVCA, which was established in 1985, represents members who professionally manage over 95% of the €1.25 billion invested in venture capital funds in Ireland.

Press queries to:

Regina Breheny, Director General, IVCA, Tel: 01- 837 8344
Ciara Burrowes, Administrator, Tel: 01- 276 46 47
Ronnie Simpson or Caroline Kohn, Simpson Financial & Technology PR
Tel: 01-260 5300