The National Pensions Reserve Fund (NPRF) in Ireland has committed €30 million (£26.2 million) to two DFJ Esprit venture capital funds.


The National Pensions Reserve Fund (NPRF) in Ireland has committed €30 million (£26.2 million) to two DFJ Esprit venture capital funds.


The investment forms part of the €500 million Innovation Fund Ireland initiative, which is designed to attract international venture capital fund managers to Ireland.


Paul Carty, chairman of the NPRF says: ‘These investments will form part of our private equity and venture capital allocation. They not only represent a strong commercial opportunity for the Fund but also form a robust first step for Innovation Fund Ireland in attracting high quality venture capital managers to Ireland.’


The funding will be split between the DFJ Esprit Fund III, which will receive €20 million and the DFJ Fund X, which will receive €10 million.


DFJ Esprit is a venture capital firm that invests in European technology companies and has previously backed companies such as Skype and Tesla Motors. The firm aims to increase its focus on Ireland.