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Jobs Minister Richard Bruton today launched a €75 million fund under the Development Capital Scheme to support established Irish companies targeting significant revenue and jobs growth through export markets. The development and roll out of the Scheme is a critical element in the Action Plan for Jobs.

The BDO Development Capital Fund will invest development and growth capital in established, mid-sized and profitable companies to support and accelerate their export growth plans.

Target companies for investment will be Irish and have significant opportunities for jobs and export growth. Typically companies will be mid-sized, with high-growth potential and annual turnover of €15million to €50million. Based on the current growth opportunities it is likely that the majority of investments will come from the food and agri; life sciences and clean tech; ICT/software and industrial/engineering sectors.

Today’s announcement follows the announcement of the €125million first Development Capital Fund in November 2013. The Development Capital Scheme is part of a suite of non-bank sources of finance rolled out under the Government’s Action Plan for Jobs totalling more than €2billion in funds available for business.

Making the announcement today, Minister Bruton said:

As we have repeatedly stated, at the heart of our jobs plans is our determination to create a powerful engine of Irish enterprise alongside our strong multinational sector. Around the country we have many excellent mid-sized businesses in sectors like food, manufacturing and engineering –

but we want to support more of them to grow bigger, export more and employ more people.

This new €75million fund from BDO is a major addition to the supports available to this hugely important sector. Not only will it invest sums of between €2million and €10million in 15 of these companies, but it will also provide access to mentoring and other expertise from people who have done

it before. This is a very significant new support that will make a real difference to businesses in this category, and will help more companies to grow more, export more, and ultimately create more of the jobs we need.

Read the full press release

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