WDC Investment Fund

An Introduction

The WDC Investment Fund (WDIF) plays a unique role in funding businesses, community initiatives and ‘flagship’ projects in the Western Region. It invests directly in sustainable projects, many of which may be experiencing a funding gap. The WDC looks for a financial return on its investments.

The fund provides seed and venture capital or loans to projects and businesses in the Western Region. Investments are made by the WDC on a commercial basis by way of ordinary share capital, preference share capital and loans, or a combination of these mechanisms. The WDC does not provide grant aid.

The fund is supported by the Irish government through the National Development Plan 2007-2013 and operated by the WDC. A budget of €28 million has been allocated over the life of that development plan.   

Bridging the gap

A serious funding gap can exist for business and community projects in the Western counties. Some projects fail to get off the ground or grow because there is a shortfall in the combined monies available from the promoter, the private sector and other public sector sources. This is where the WDC Investment Fund can make a crucial intervention – it can fill that gap by providing investment equity and/or loans. It will also tailor funding packages to suit individual project needs.

The WDC Investment Fund can now invest up to €1 million in any one project and provide further follow-on tranches.

What kind of projects does the Western Investment Fund invest in?

The WIF is divided broadly into three funds:

1. A Venture Capital Business Fund which provides loans and equity to high growth enterprises. It has already funded projects in areas such as biotechnology, medical devices, tourism infrastructure and software development.
2. The Strategic Investment Fund which targets flagship projects and initiatives that would have a major impact on the region, such as Knock Airport.
3. The Local Investment Fund provides loans to community enterprise groups and has invested in projects ranging from a children’s play area, to a company providing home services for the elderly and disabled, a waterworld project and a community enterprise centre.

Target sectors

The WDC is interested in investing in projects from the following sectors:

• Information & communications technology.
• Life Sciences & medical devices.
• Manufacturing and internationally traded services.
• Tourism.
• Community.