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The Ludgate Seed fund is joint-funded by Gain Line Capital Investments Limited & the Sean & Rose O’Driscoll Family Investment Fund, and was announced during the hugely successful National Digital Week in November 2015. There are no maximum or minimum draw down values from the fund. All expressions of interest are encouraged to pitch for a share of this fund, and demonstrate how the fund could support job creation or retention. Applicants are welcome to negotiate a return for their investment.
A €500,000 Ludgate Seed Capital fund, aimed at companies who locate in The Ludgate Hub in Skibbereen is currently calling on entrepreneurs to register interest in the fund by emailing investments@ludgate.ie.

The fund is designed to support start-up and early stage companies with job creation potential.  The Ludgate Hub, is set in Skibbereen at the heart of scenic West Cork and offers an alternative space for start-ups and early stage companies to work from. Tenants of the hub will experience one of the fastest internet connections in the country powered by an uncontested 1000MB SIRO connection with Vodafone as the business provider. The refurbished Old Bakery building, which will be renamed The Ludgate Hub, was made available for the initiative by local businessman John Field and was officially open in Spring 2016. The 10,000 sq ft co-working space is the first of its kind in a non-urban area in Ireland and has already attracted a wealth of digital innovators, start ups and those working in creative industries.
Maurice Healy, CEO of The Healy Group and investor of the fund sad:

“It has been great to be involved from the grassroots with Ludgate. It really is an amazing initiative that will give young businesses a great start. This is very close to my heart as the Hub is in my home town and myself and my family are really looking forward to working with the next generation of entrepreneurs, with exciting times ahead”.

The seed fund comes at a welcome time for entrepreneurs, as 2015 saw a significant decline in availability of seed finance. According to the Irish Venture Capital Association, the amount raised by seed funds in Ireland in 2015 was €43.8 million, down from €66.8 million in 2014. In 2015, seed funding accounted for 8 per cent of the overall €522 million raised through venture capital.

Sean O’Driscoll, Chairman & CEO of Glen Dimplex and investor of the fund added “For decades rural Ireland has been neglected. Over the last decade many towns and villages in West Cork have been devastated. The Ludgate Digital Hub combined with the arrival of 1,000MBps of broadband to Skibbereen opens up enormous new opportunities for West Cork. This new Digital age will make the impossible possible and consign geographic disadvantages to history and reinvigorate West Cork“.

Our Seed Capital investors have;

  • a strong commercial track record
  • excellent business and industry credentials
  • have an ability to identify commercial opportunity 
  • established links and relevant industry contacts
  • the ability to follow its investment until such time as the company is ready to continue its growth with venture capital and beyond

 
For all other seed fund related queries please email investments@ludgate.ie
 
Gain Line Capital Investments Limited supports the Ludgate Seed Capital Fund. CRO: 547802
 

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