Frontline Ventures, the newest arrival to the Ireland/UK VC scene, announced today that it has raised $50 million in its maiden fund.
Frontline Ventures invest amounts of €250k to €2m into early stage software companies. The fund is run by partners Shay Garvey, Will Prendergast and William McQuillan from offices in Dublin and London. The team includes Kim Pham, who recently joined the fund from New York as Head of Platform.
Shay Garvey said, “I’m very happy that the fund has attracted a wide range of investors including Irelandia, the An Post Pension Fund, AIB and Enterprise Ireland.”
Will Prendergast said, “The Frontline Ventures strategy of investing exclusively in software companies and then syndicating these investments early with international software specialist VCs has proven to be an attractive proposition for both investors and investee companies.”
The fund has announced eight investments in the last year including Logentries, Boxever, CurrencyFair and Qstream. To date Frontline has participated in syndication investments with eight international VCs including Polaris Ventures, RRE ventures, True Ventures, and Floodgate.