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Furthr, originally founded in 1988 as Dublin BIC (Dublin Business Innovation Centre), is a venture capital firm located in Dublin, Ireland. Over its 35-year history, Furthr has evolved into a key player in the Irish entrepreneurial ecosystem, providing essential funding, mentorship, and expert guidance to early-stage startups. The firm has transitioned from its initial focus on business innovation to a dedicated venture capital entity, managing a fund that was launched in 2019.
Currently, Furthr manages a fund size of €32 million, which has increased from €23 million since its inception. The firm has supported over 75 startups, facilitating more than €200 million in direct funding into Irish companies. Furthr operates from the Guinness Enterprise Centre in Dublin and collaborates with a diverse base of limited partners, including Enterprise Ireland and over 20 private investors.
Furthr specializes in early-stage investments, primarily targeting the software and medtech sectors. The firm invests in 'born global' companies, emphasizing a relationship-driven approach that provides hands-on support to startups with international ambitions. Their investment strategy includes initial checks ranging from €650,000 to €3 million, allowing for substantial follow-on investments as companies grow.
Furthr's funding initiatives include the Pre-Seed Start Fund (PSSF) and the Innovative High Potential Start-Up (iHPSU) funding, which have collectively facilitated over €200 million in funding for Irish startups. The firm also offers a variety of services such as mentorship, accelerators, and masterclasses, all designed to prepare startups to become investor-ready and scale effectively.
Furthr has built a diverse portfolio of over 25 companies, primarily in the software and medtech sectors. Notable companies include:
This portfolio reflects Furthr's commitment to supporting innovative startups that are positioned for growth and global reach.
Martin Murray - Chief Executive Officer. Martin has extensive experience in venture capital and entrepreneurship, having led various initiatives to support Irish startups.
Richard Watson - Managing Partner, Furthr VC. Richard has a strong background in investment management and has been instrumental in driving the firm's growth and investment strategy.
Colm O'Sullivan - Managing Partner, Furthr VC. Colm brings a wealth of experience in venture capital and has a track record of successful investments in the tech sector.
Caroline Smart - Investment Associate. Caroline focuses on sourcing and evaluating investment opportunities, leveraging her expertise in early-stage funding.
To pitch to Furthr, founders should send an email to hello@furthr.ie. It is important to include a comprehensive pitch deck that outlines the business model, market analysis, and financial projections. Furthr prefers pitches that clearly articulate the startup's vision and growth potential.
Response times can vary, but founders can generally expect to hear back within a few weeks. Warm introductions are beneficial but not mandatory.
Furthr offers several programs designed to support early-stage entrepreneurs:
These programs provide valuable resources and mentorship to help startups navigate the challenges of early-stage growth.
In 2022, Furthr made seven new investments, continuing its commitment to supporting early-stage startups in Ireland. The firm has also been active in promoting its accelerator programs, including the launch of the Prep4Seed Accelerator, which aims to help startups become investor-ready.
Furthr has facilitated over €200 million in direct funding into Irish startups, showcasing its significant role in the local entrepreneurial ecosystem. The firm regularly publishes insights and updates through its Startup Insights Blog and newsletter, keeping the community informed about opportunities and resources.
What are Furthr's investment criteria?
Furthr focuses on early-stage startups in the software and medtech sectors, particularly those with global ambitions. They typically invest in companies at the Seed and Series A stages.
How can I pitch to Furthr?
Founders can pitch to Furthr by sending an email to hello@furthr.ie. It is recommended to include a detailed business plan and financial projections in the pitch deck.
What makes Furthr different from other VCs?
Furthr emphasizes a hands-on, relationship-driven approach, providing not only funding but also mentorship and access to a network of industry experts. Their focus on 'born global' companies sets them apart.
What is the typical check size Furthr invests?
Furthr typically invests between €650,000 and €3 million in early-stage companies, allowing for follow-on investments as needed.
What kind of support do portfolio companies receive?
Furthr provides tailored support programs, mentorship, and access to resources that help startups become investor-ready and scale effectively. They also reserve capital for follow-on investments to support growth.
What is the geographic focus of Furthr?
Furthr primarily invests in startups based in Europe, with a strong emphasis on Irish companies.
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