Industry & Business

ISIF invests €50m in Reverence Capital Partners Opportunities Fund

 Breaking News
  • Irish Distillers to Invest €150 Million in Sites in Cork and Dublin Irish Distillers has announced investment of over €150 million in its sites in Cork and Dublin to meet demand for its products as the Irish whiskey renaissance continues apace. This is accelerated by the continued growth of the company’s flagship Jameson brand, which is now in double or triple-digit growth in more than 80 markets [...]...
  • CM Precision Components Opens New Purpose-built Factory in Downpatrick Downpatrick-based CM Precision Components Ltd has officially opened its new 16,000 sq ft manufacturing facility at Invest Northern Ireland’s Killough Road Industrial Estate. The advanced engineering firm has invested almost £1 million in the construction project, to expand its production capabilities and meet the growing demands of its customers. CM Precision Components produces precision machined components for [...]...
  • Arkphire Secures New Investment IT solutions and networking company, Arkphire, has announced that Bregal Milestone, a private capital firm, has completed an investment into the business. The investment by Bregal Milestone comes from their new €400 million pan-European fund dedicated to investing in high-growth European companies. Typical commitments from Bregal Milestone range from €20 million to €60 million. Arkphire provides [...]...
  • Government Investment in Research & Development Amounts to Over €750 Million in 2018 The latest figures on Government investment in research and development (R&D), published by the Department of Business, Enterprise and Innovation, show that over €750 million is estimated to have been invested in R&D in 2018. The data in The Research and Development Budget 2017-2018 publication is compiled from a comprehensive survey of thirty Government Departments [...]...
  • Smart Dublin in Partnership With Enterprise Ireland Award 21 New Innovation Contracts Approximately €700,000 is to be awarded to companies under Enterprise Ireland’s Small Business Innovation Research (SBIR) initiative which will enable them explore innovative solutions to address challenges faced by Local Authorities. 21 companies have been awarded Phase One funding to progress the feasibility of their solutions. Phase One funding will allow each recipient to carry [...]...

ISIF invests €50m in Reverence Capital Partners Opportunities Fund

ISIF invests €50m in Reverence Capital Partners Opportunities Fund
March 22
09:00 2017

A fund run by former executives at Goldman Sachs has received €50m from the Irish Strategic Investment Fund (ISIF) to develop financial services jobs in Ireland.

Reverence Capital Partners Opportunities Fund has received €50 million from the Irish Strategic Investment Fund (ISIF) to develop financial services jobs in Ireland. Run by former Goldman Sachs bankers Milton Berlinski, Peter Aberg and Alexander Chulack, Reverence is an investment fund that focuses on middle market financial services firms.

As part of the deal, Kabbage Inc, a reverence portfolio company, will establish its European headquarters in Ireland. Kabbage specialises in providing quick loans to small and medium sized companies using a range of data tools. The company assesses the viability of loan applications based on a number of metrics that are not used by traditional banks.

Kabbage uses data gathering tools to measure credit worthiness through analysis of a range of factors, from the state of a businesses current account, to its social media following. Kabbage said it “expects fast growth across Europe over the coming years and sees significant opportunity in Ireland during that period.”

Reverence has said it will continue to work with the ISIF and the IDA to attract more of the firm’s portfolio companies to Ireland. “We are excited to announce the establishment of our European office in Ireland to support these key partners and drive our European expansion to additional organizations and markets,” said Kabbage ceo Rob Frohwein.

“We expect Ireland to be a very important part of our future business growth and to provide opportunities for a significant number of employees as we build out our Irish platform,” Mr Frohwein added.

About Author

editor

editor

Related Articles

New Subscriber





Subscribe Here



Advertisements



















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4