Leading capital firm Sure Valley Ventures to open Cork office

LEADING Ireland and UK-based venture capital firm, Sure Valley Ventures, has announced the opening of a new office in Cork, reinforcing its commitment to nurturing and investing in Ireland’s dynamic startup ecosystem.

The new Cork office will be helmed by DC Cahalane, a well-known figure in Ireland’s startup community. He is joining Sure Valley Ventures as a venture partner, bringing with him a wealth of experience and a vast network of connections from his career in the startup domain.

His appointment continues the firms’ tradition of recruiting former founders and entrepreneurs having been originally founded by Barry Downes and Brian Kinane, who previously founded the Waterford-based based, Feedhenry which exited to Red Hat in 2014.

Since its founding, Sure Valley Ventures has grown to become a leading VC player in the UK and Ireland, where it has developed a strong reputation as a firm that invests ahead of the trend, having invested in Artificial Intelligence, Immersive Technology, and Cybersecurity since 2017. The firm has invested in 20 companies including local companies such as Cork-based Getvisibility and Smarttech 247 (which recently IPO’d on AIM), Waterford-based Cameramatics and Engage XR (IPO’d on AIM), Dublin-based AI firm Artomatix which was sold to Unity Technologies in 2020 and Dundalk based Nova Leah.

Barry Downes, Managing Partner at Sure Valley Ventures, expressed his enthusiasm for this new chapter, stating: “The decision to expand into Cork was a logical step in our business growth strategy. The city is rich with innovative startups and visionary entrepreneurs, and we’re thrilled to be a part of this vibrant community.

“We’ve already seen great success in a number of Cork companies that we’ve already invested in, such as Smarttech247 and GetVisibility. Welcoming someone like DC to our team not only reinforces our commitment to the region but also positions us for further growth and investment in groundbreaking technology companies.

“We’re incredibly excited about the opportunities that lie ahead in the Cork startup ecosystem and across the Island of Ireland.”

DC Cahalane echoed the sentiment, stating: “Joining Sure Valley Ventures, a firm that has consistently championed and backed disruptive technology innovators, is truly a privilege. They are the truest kind of investor, investing well ahead of the trend, having been working with AI and Immersive technologies since 2017. Cork has been a hotbed of creativity and tech-driven innovation, and with the support of Sure Valley Ventures, I look forward to investing in and mentoring the next generation of technology trailblazers emerging from the region and across Ireland, while growing returns for our investors”

To date, Sure Valley has had considerable success helping its portfolio companies grow and scale from Seed to Series A and beyond with 80% of its investee companies raising follow-on Series A rounds and 70% reaching this milestone within 24 months of the initial seed investment.

This new Cork location comes on the back of the launch of a new Irish fund earlier this year and further solidifies Sure Valley Ventures’ position as a significant player in the Ireland and UK startup scene.

This new Irish Fund will follow the same investment strategy in Ireland as in the UK and Sure Valley also plans to expand its regional focus to work with start-ups in the exciting innovation clusters that have developed around Artificial Intelligence, Immersive Tech, and Cybersecurity throughout Ireland. It plans to invest in 15-plus software companies from across the Republic of Ireland through this new fund.