New €20m venture capital fund emerges from Ireland’s south-east

Barry Downes, Chairman of TSSG

Barry Downes, Chairman of TSSG

Barry Downes has the Midas touch when it comes to tech start-ups and is now heading a new venture capital firm called Suir Valley Venture Fund.

TSSG chairman and FeedHenry founder Barry Downes is to lead a new €20m venture capital fund, Suir Valley Ventures, to focus on IoT, fintech and augmented reality.

Downes has been an integral figure in the emergence of a thriving tech sector in Ireland’s south-east. Up until January, he was CEO of TSSG at Waterford Institute of Technology, and will remain as chairman of the innovation powerhouse.

TSSG has delivered more than 120 tech and innovation projects for start-ups over the past three years.

‘This is an entrepreneur-led fund that will focus on supporting entrepreneurs [as they] grow and develop groundbreaking new technology companies’

Downes is the founder of FeedHenry, which was acquired by US software giant Red Hat in 2014 for €63.5m in cash.

He also sits on the board of fast-emerging virtual reality games company Immersive VR Education and is credited as a producer on the breakthrough Apollo 11 VR experience.

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