AIB Seed Capital Fund

The AIB Seed Capital Fund was a significant early-stage venture capital initiative established in 2007, a collaborative effort between Allied Irish Banks (AIB) and Enterprise Ireland. Managed by Dublin Business Innovation Centre (DBIC), now known as Furthr, the fund was designed to address the funding gap for nascent, high-potential companies within Ireland. Its primary objective was to provide essential seed and early-stage capital to facilitate the growth and development of innovative Irish enterprises across various sectors.

The fund operated with a total capital commitment of €27 million, making it a substantial player in the Irish venture ecosystem at the time of its inception. It focused on investing in companies demonstrating strong growth potential and innovative business models, typically participating in initial funding rounds. Over its active investment period, the AIB Seed Capital Fund made investments in over 50 Irish companies, playing a crucial role in nurturing the country's burgeoning startup landscape.

Typical first cheques from the AIB Seed Capital Fund ranged from approximately €100,000 to €1.5 million, often as part of larger syndicated rounds with other investors. This strategic approach allowed the fund to leverage additional capital and expertise, maximizing the impact of its investments. The fund is now fully invested and has transitioned into its realization phase, meaning it is no longer making new investments but is focused on managing its existing portfolio and realizing returns. Its legacy includes supporting a generation of Irish startups that have since grown into significant businesses.