NDRC Backed Ventures Exceed 2014 Expectations

Dublin-based early stage investor, NDRC, reports surpassing its projections for 2014, with an additional €37m of follow-on investment going into its portfolio of companies during the past year. NDRC backed startup ventures have now cumulatively secured €88m in commercial follow-on investment from angel and VC investors and have a combined market capital value of approximately €220m.

Companies incepted through NDRC reported the creation of over 500 jobs to date (an increase of 200 jobs in 2014), contributing to the strengthening Irish economy. NDRC invests primarily using an accelerator model through its LaunchPad and VentureLab investment programmes, providing modest amounts of capital and high amounts of hands on support to early stage companies.

Successful companies from NDRC’s portfolio in 2014 included nanotechnology company Adama Innovations, a spin-out from Trinity College Dublin which secured €600,000 in seed funding from a syndicate including Enterprise Ireland and Irrus Investments; and Pharmapod, developer of an award winning Global Reporting & Learning system for healthcare professionals which secured €750,000 from investors including Enterprise Ireland, private investors, NDRC and the AIB Seed Capital Fund.

Commenting on NDRC’s performance in 2014, John Flynn, Chairman of the Irish Venture Capital Association (IVCA) said: “NDRC is a key platform that the venture investment industry builds on. NDRC continues to refine its offering and tailors its expertise to the exact needs of early stage technology companies, supporting the transformation of their business concepts into an investable proposition. This is contributing to the creation of some exceptional new companies and is creating an exponentially positive and value-adding effect across Ireland’s technology startup ecosystem.”

NDRC CEO, Ben Hurley added: “This is an excellent outcome for the year where we continue to see significant market value being created by startup technology companies who are initially supported with our fusion of investment, mentoring and expertise. As a capital investor in these firms, we’re attaining the strategic objectives of our fund to deliver returns through stimulating innovative businesses established by high calibre entrepreneurs. NDRC’s unique investment offering as first investor at the riskiest stage of company formation is delivering results for our funds and the Irish economy, as well as qualified deal flow for later stage investors.”