| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax 2008

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : Irish Last Updated: Apr 24, 2009 - 5:31:05 PM

First Life Sciences Fund established under the Enterprise Ireland Seed and Venture Capital Scheme 2007-2012; €75 million raised
By Finfacts Team
Apr 30, 2008 - 4:09:04 AM

Email this article
 Printer friendly page

The First Life Sciences Fund established under the Enterprise Ireland Seed and Venture Capital Scheme 2007-2012 has been promoted by former Elan executives who have raised €75 million in venture capital to invest in life sciences projects over the next five years.

Dr Manus Rogan, Aidan King and Dr Ena Prosser have launched Fountain Healthcare Partners, a Dublin-based group that plans to invest in the speciality pharmaceuticals, biotechnology, medical devices and diagnostics sectors.

Enterprise Ireland has contributed €21.75 million, while the National Pension Reserve Fund has invested €15 million.

The Fund will invest from €0.5m to €7m per company and will have an emphasis on the specialty pharmaceuticals, biotechnology, medical devices and diagnostics sectors.

Over 90% of the capital invested in the fund was sourced from institutional investors of which 75% are Irish based. Institutional investors include the European Investment Fund and the National Pension Reserve Fund. A select number of high net worth individual investors
also participated.

Commenting on the announcement Dr Manus Rogan, a founding partner at Fountain said: “We have been very pleased with the level and quality of investor participation in the first close. There was clear support for our investment strategy, and we significantly exceeded our original first close target. Fountain is now targeting €100 million in commitments at its final close”.

Commenting at the launch Frank Ryan CEO, Enterprise Ireland said: “The €75m Fountain Healthcare Partners Fund I is led by a highly skilled team with significant industry experience. The Fund will be a vital contributor to the development of a dynamic and commercially viable venture capital sector in Ireland. Furthermore, it complements Enterprise Ireland’s role in supporting the sustained growth and development of the indigenous life sciences sector: building on the already strong platform and linkages provided by the multinational base in Ireland”.

“The life science sector in Ireland has clearly lacked a dedicated fund of scale and expertise to accelerate the commercialisation of innovative products emerging from our indigenous companies. Our aim is to help fill that gap.” commented Aidan King, Fountain’s New York based partner.

Fountain Healthcare Partners Fund I, one of the largest emerging manager VC funds in the life science sector globally in the past 2 years, will nvest this capital over multiple funding rounds alongside international and domestic life science focused VC firms.

Fountain’s investment premise holds that the global life science sector dynamics are currently very favorable for smaller venture backed private companies. Fountain also maintains that the Irish life science industry is at a turning point and has been underserved from a VC perspective.

Related Articles
Related Articles

© Copyright 2009 by Finfacts.com

Top of Page

Latest Headlines
Ryanair revises up full-year profit guidance
AIB bank profitable in third quarter
Ryanair announces half-year profits up 32% to €795m
Ryanair benefits from improved customer service
Ryanair to buy 100 new Boeing 737 MAX 200
Finfacts server migration Thursday
State-owned Allied Irish Banks reports H1 2014 profit as bad loan charges plunge
Ryanair reports profit in its financial first quarter soared 152%
UK firm opens van dealership in Dublin
Ryanair reports 8% fall in full-year profit; US services to commence in 2019
Global Financial Centres Index: New York overtakes London; Dublin slips to 66 of 83 cities
Bank of Ireland reports “significant” improvement in 2013 results
Sale process of IBRC UK projects Rock and Salt completed
CRH says 2014 will be year of profit growth after reporting 2013 loss
Ryanair reports third-quarter loss
Irish Water says it saved €100m in setup costs
RSA Insurance fires two Irish executives for large loss/ accounting irregularities
Bank of Ireland will have to raise provisions by €1.4bn; AIB says it's "well capitalised"
CRH reports slightly improved third quarter
Central Bank says ownership of Newbridge Credit Union transferred to permanent tsb
Ryanair reports H1 profits rose by 1% to €602m
Dublin Web Summit: Irish Stock Exchange and NASDAQ OMX announce dual listing plan
Irish pension managed funds returned to growth during September
Dan O’Brien resigns as economics editor of The Irish Times
Central Bank says no action required on Anglo tapes revelations
Ryanair flew 9m passengers and Aer Lingus carried 1.1m in August
UK Competition Commission says Ryanair must cut Aer Lingus stake to 5%
CRH reports H1 2013 revenue dip and loss
Vodafone refunded UK after discovery of Irish tax haven deal
RBS reports half year profit; Ulster Bank posts reduced loss
Bank of Ireland cuts pretax losses in HI 2013 to €504m
Irish State-owned Allied Irish Banks reports losses of €758m in H1 2013
Service Announcement
Irish managed pension funds declined in June
VHI reports 2012 surplus of €54.3m; Health insurance made loss
Ex- Elan director says management / board "not competent to run a business"
Aer Lingus to put €140m in employees pensions fund; Ryanair apoplectic
Wednesday Newspaper Review - Irish Business News and International Stories - - May 22, 2013
Tuesday Newspaper Review - Irish Business News and International Stories - - May 21, 2013
Ryanair, Europe’s biggest low cost carrier, announced Monday record annual profits of €569m - - up 13%