AIB Seed Capital Fund
NOVAUCD, Belfield Innovation Park, University College Dublin, Dublin, D04 V2P1, Ireland
Overview
The AIB Seed Capital Fund was established in 2007 to provide venture capital for companies at the seed and early stages of development across a range of sectors throughout the Republic of Ireland. The Fund was established under the Enterprise Ireland Seed and Venture Capital Programme 2007-2012. The Fund has a total of €30m under management with AIB and Enterprise Ireland both committing €15m. It is managed by experienced managers with extensive expertise in making seed and early stage investments, adding value and facilitating business success. The Fund managers are empowered to make seed investments of up to approximately €500,000. Furthermore, the Fund has the capacity to make investments in later rounds to support the continued growth of investee companies. The Fund will be managed by Enterprise Equity Venture Capital and the Dublin Business Innovation Centre. This unique partnership brings together extensive regional and investment expertise. Enterprise Equity will evaluate and manage all investments outside the city and county of Dublin, as well as investments that require in excess of €250,000 from the fund within the city and county of Dublin. Dublin Business Innovation Centre (DBIC) will evaluate and manage all investments within the city and county of Dublin when the initial investment amount required from the Fund does not exceed €250,000.
- Total investments
- 2
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Agriculture
- Farmers Market
- Farming
Investment portfolio
- Movidius
Participated · Equity · Apr 2015
Movidius develops low-power accelerated computer-vision processors that power devices such as Google’s Tango tablet and other consumer products. Its processors target applications including drones and VR/AR (positional and eye tracking) where low latency and power efficiency are critical. The company says its products will appear in a number of consumer devices from well-known brands and is working with three of the five main head‑mounted display manufacturers. Movidius has offices in Silicon Valley, Ireland and Romania. With the new funding it plans to push R&D, hire more engineers, and improve the software tools that help developers utilize its vision processors; the next version of its processor is coming soon. Management expects to focus on high‑growth markets and compete on a combination of price, performance and power while largely avoiding the long lead times of automotive vision. Movidius is a San Mateo, CA-based company that develops a low-power, multi-core architecture and accompanying software for imaging and computer vision on mobile devices. Its technology targets applications such as post-capture refocusing, high-quality zoom, augmented reality simulation, gaze- or gesture-based user interfaces, advanced location-based services, and 3D modeling and scanning for printing. The company is led by CEO Remi El-Ouazzane. Movidius raised $16m in a Series D funding round. The company intends to use the funds to accelerate product development and to build its presence and R&D team in Silicon Valley. It has established new U.S. headquarters in Silicon Valley. Movidius develops the Myriad platform — a low-power processor and application software stack that enables advanced multimedia features on mobile devices, including real-time video editing, 3D mobile video and high-quality video enhancements. The company’s technology targets next-generation mobile handsets by improving imaging capabilities and video download bandwidth utilization. Movidius is transitioning from development to product deployment and plans mass production later in 2010. Handsets embedding its products were expected to reach market in early 2011. The company also operates offices in Hong Kong and a software development centre in Romania. The new funding will support growth and initial high-volume production of Myriad-based products.
Team
No current team members are available.