Enterprise Minister Richard Bruton has announced an investment worth $37.5m (€28.7m) in a US healthcare venture capital fund. The investment under the Innovation Fund Ireland programme will see Sofinnova Ventures establish a presence in the Irish market. Enterprise Ireland has committed $25m to the fund, alongside a commitment of $12.5m by the National Pensions Reserve Fund. Minister Bruton made the announcement in Silicon Valley today. “Developing a dynamic venture capital industry in Ireland is a key part of this Government’s growth strategy,” he said.
