Announcing ACT VI – at €140m
“A feature of our maturing market has been the recycling of capital and talent from the increasing number of successful exits, and we are seeing very strong network effects from repeat entrepreneurs. This will see Ireland build larger and more impactful companies”. John Flynn
We are delighted to announce the first close of ACT VI.
Firstly, we would like to thank our investor base for continuing to trust us and our strategy – now over multiple funds. Having institutional investors such as the European Investment Fund, Enterprise Ireland, ISIF and AIB – together with a number of founders and entrepreneurial family offices, we are fortunate to have both valuable strategic support and strong co-investment capabilities.
We are glad to say that the majority of the new commitments come from our existing investors, while we welcome valuable new investors and partners to the firm.
We would also like to thank our founders, whom we have been fortunate enough to have worked with. While investors play a part, we know that we are the supporting actors and that great companies are built by great founders who sacrifice so much along the way to turn their vision into a reality.
What’s the plan?
Our strategy is not changing. We will continue to back exceptional and passionate founders tackling big problems, but with more capacity to support founders earlier.
In the Irish market, we have witnessed the market over double in size within 4 years and we are incredibly excited about the future of Irish tech companies and the talented and ambitious founders that will build them.
We will target 35 companies with the fund targeting 75% of companies to be seed stage through our continued partnership and support from Enterprise Ireland in our seed sidecar fund.
With a capacity to write cheques anywhere from €100k – €10m and the capacity to add significant additional co-investment through our LP base, we have a platform to support ambitious founders seeking to build the next generation of category leaders and exceptional companies.
Act is a people-driven business, and we will continue investing in outstanding founders, partnering with, and supporting them through the scaling journey.
Finally, we partner exclusively with companies that target long-term, sustainable growth, which seek to improve the world we live and work in.
We are in a privileged position to be agents of positive change and will continue backing founders that have a mission and values that go beyond financials. We know we all need to do more as diversity is still a big problem and climate change is the existential crisis of our time. We truly believe the companies that prioritise the ESG agenda have proven that, on top of making a positive change, they attract better talent, and provide a better financial return for investors.