Irish investment house Elkstone has closed its €100 million early-stage investor fund with backing from the Ireland Strategic Investment Fund (ISIF).

With additional support from government agency Enterprise Ireland, the fund has allocated €10 million of the funds to more than 50 startups to date. It aims to complete its initial investments to various Irish tech startups by 2026.

Elkstone previously backed Flipdish and LetsGetChecked at seed stage – companies which have since become Irish unicorns.

“Whilst the macro backdrop is undoubtedly challenging, it is a good time to be investing and we are very positive on the outlook for disruption and innovation" said Elkstone chief executive Alan Merriman. “We are very much looking forward to continuing to play our part in enabling deserving early-stage businesses to grow and bring about stellar returns for our investors and meaningful social and economic impact for the Irish economy.”

Director of the ISIF Nick Ashmore said the fund gives Irish businesses a valuable new option for attracting the capital they need to grow.

“Our new partnership with Elkstone will fuel the success of a range of fast-growing Irish businesses and we aim to build on these success stories in the coming years,” Ashmore said.

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