The Frontline Ventures team
Irish headquartered venture capital firm Frontline Ventures has raised $200m (€183m) to invest in early stage and growing software companies, tapping public sector investment in Dublin and Luxembourg to create new VC funds.
Frontline was set up over a decade ago by co-founders Will Prendergast, Shay Garvey and William McQuillan and with early backing including from Declan Ryan, son of the late Ryanair founder Tony Ryan.
It now has an established track record of investing in around 80 businesses on both sides of the Atlantic, including backing Workvivo which was later bought by Zoom and Pointy, now owned by Google.
Fronline was a seed, or early stage, backer of Signal AI as well as Workvivo and Pointy. It is a later, growth stage, investor in Irish companies MosaicML, Lattice and Navan.
The new financing has been raised for two funds: Frontline Growth and Frontline Seed. Managers are specifically targeting investment in high potential business-to—business software companies with a focus on trans-Atlantic markets.
“The US and Europe account for the lion’s share of global software spend and global venture capital
dollars. Frontline Seed’s mission over the past decade has been to help ambitious founders capture this critical transatlantic market and set them on the path to IPO,” Will Prendergast said.
The new venture funds are backed by public sector money from the Luxembourg based European Investment Fund (EIF), part of the EU’s European Investment Fund, as well as from the Irish Government’s Ireland Strategic Investment Fun (ISIF).
