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    Home»Funds»DunPort launches EUR50m fund to support Covid-19 impacted SMEs
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    DunPort launches EUR50m fund to support Covid-19 impacted SMEs

    March 24, 20211 Min Read
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    DunPort Capital Management (DunPort) has launched a EUR50 million fund to provide tailored and flexible capital solutions to Irish small and medium sized enterprises whose businesses have been directly impacted by the Covid-19 pandemic

    The fund, backed by a EUR50 million commitment from the Ireland Strategic Investment Fund (ISIF), will seek to support well-established, historically profitable Irish SMEs with annual turnovers of between EUR5 million and EUR50 million and funding requirements of between EUR3 million and EUR15 million. Capital from the fund may be used to address Covid-19 related challenges while allowing investee companies to retain existing financing relationships and avoid material shareholder dilution.

    “The significant impact of Covid-19 on businesses of all sizes in Ireland will be long lasting,” says Pat Walsh, Executive Director of DunPort. “To ensure that Irish businesses can exit this challenging period with financial stability and poised for recovery and growth, company balance sheets will require restructuring to transition the build-up of unsustainable short term liability balances into manageable longer-term obligations.

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    Source: Private Equity Wire

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