Suir Valley to get cash injection as partner lists on London Stock Exchange

Business, Finance, Technology | Fri 19 Jan | Author – Business & Finance

Sure Ventures plc, which is linked to Suir Valley Ventures, will raise around €3.75 million by offering its shares to the London Stock Exchange (LSE).

Sure Ventures is to offer 3.3 million shares on London’s specialist funds market today. This is to raise money to invest in software companies in their early development. It will invest the proceeds in Suir Valley Ventures, an Irish investment organisation that invests in businesses through an Irish Central Bank-run entity known as the Irish Collective Asset-management Vehicle (ICAV).

Suir Valley Ventures is led by Barry Downes. He sold mobile software developer FeedHenry to Red Hat in the US in 2014 for €60 million.

Gareth Burchell, Director at Sure Ventures, said raising €3.75 million (£3.3 million) shows how much investors demand for new technologies and it is a serious endorsement for the company’s operations.

Suir Valley has also invested in WarDucks, a Dublin-based virtual reality gaming company, alongside a host of other companies, including ProVision and Wia.

Business & Finance spoke to WarDucks CEO Nikki Lannen last year for an article in the September-November 2017 issue on being at the forefront of VR gaming.