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Development Capital is an Irish development and growth capital fund manager founded in 2013 by Andrew Bourg and Sinead Heaney. The firm is headquartered in Dublin, located at Block 3, Miesian Plaza, Lower Baggot Street. Development Capital focuses on providing development and growth capital to small and medium-sized enterprises (SMEs) in Ireland, particularly those with strong potential for export growth. The firm has successfully raised two funds, each with a size of €75 million, totaling over €90 million deployed across its portfolio.
Since its inception, Development Capital has targeted established, profitable SMEs that require funding to unlock or accelerate growth. The firm has a clear investment strategy that includes supporting organic growth, production capacity expansion, bolt-on acquisitions, management buyouts, and shareholder restructurings. Development Capital has been recognized for its contributions to the industry, particularly through its portfolio companies.
Development Capital invests primarily in established, profitable SMEs in Ireland that require funding to unlock or accelerate growth. The firm typically invests between €2 million and €12 million for a five-year term, acquiring minority stakes in the businesses through flexible investment structures such as equity, quasi-equity, or debt. The sectors of interest include consumer, healthcare, fintech, biotech, edtech, climate, AI, commerce, proptech, and energy.
The organization supports various growth strategies, including organic growth opportunities, production capacity expansion, bolt-on acquisitions, management buyouts (MBOs), management buy-ins (MBIs), and shareholder restructurings. Development Capital's investment thesis emphasizes the importance of export growth, aligning with Ireland's industrial policy priorities. The firm actively engages with its portfolio companies post-investment, focusing on ESG management and sharing best practices to enhance growth.
Development Capital has invested in a diverse range of companies, focusing on those with significant growth potential. Notable portfolio companies include:
In total, Development Capital has invested in 12 companies, demonstrating a consistent approach to supporting Irish SMEs. The firm’s portfolio reflects its commitment to sectors that align with growth and export opportunities.
Andrew Bourg: Co-founder and Founding Partner of Development Capital. Andrew has extensive experience in venture capital and private equity, focusing on growth investments in SMEs. He has a strong background in finance and has led numerous successful investments in the Irish market.
Sinead Heaney: Co-founder and Founding Partner of Development Capital. Sinead brings a wealth of experience in investment management and has been instrumental in developing the firm’s investment strategy. Her expertise lies in supporting SMEs and fostering growth through strategic investments.
To pitch Development Capital, founders should use the preferred channel of their website at developmentcapital.ie or email at information@developmentcapital.ie. The pitch deck should include a clear business overview, financial projections, and details on how the investment will be utilized. Response times may vary, but founders should expect a thorough review process.
In 2025, Development Capital's portfolio company Zartis was recognized at the Irish Investor Awards, highlighting the firm's successful investment strategy. The firm continues to actively invest in various Irish SMEs, with a focus on supporting growth and export opportunities.
As of October 2022, Development Capital has deployed over €90 million across 12 companies, demonstrating consistent execution of its investment strategy. The firm remains committed to enhancing the growth of its portfolio through active engagement and support.
What are Development Capital's investment criteria?
Development Capital focuses on established, profitable SMEs in Ireland that require funding to unlock or accelerate growth. The firm typically invests between €2 million and €12 million.
How can I apply or pitch to Development Capital?
Founders can pitch to Development Capital through their website at developmentcapital.ie or via email at information@developmentcapital.ie. A detailed business plan and financial projections are recommended.
What makes Development Capital different from other investors?
Development Capital specializes in growth capital for established SMEs, focusing on export opportunities and providing flexible investment structures. Their active post-investment engagement emphasizes ESG management and sharing best practices.
What is the geographic scope of Development Capital's investments?
The firm exclusively invests in Irish SMEs, aligning with its mission to support local businesses with significant growth potential.
What is the typical check size for investments?
Development Capital typically invests between €2 million and €12 million per company, depending on the specific needs and growth potential of the business.
What kind of support does Development Capital provide post-investment?
Post-investment, Development Capital engages actively with its portfolio companies, focusing on ESG management and sharing best practices to enhance growth and operational efficiency.
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