Shard Capital Partners has announced the launch and first closing of the Suir Valley Venture Fund of Suir Valley Funds ICAV, the first Irish-focused venture capital fund in Ireland that uses a regulated fund with a fully regulated Alternative Investment Fund Manager. The Fund invests in early stage software companies.

UK-based Shard Capital will be managing the Fund in Ireland by availing of the management passport under the Alternative Investment Fund Manager Directive. Management of the Fund is led by Barry Downes, founder of FeedHenry, which was acquired by Red Hat Inc in 2014 and also more recently CEO of TSSG, an international software research institute that has delivered over 120 technology and innovation projects for start-ups over the past three years.