From Left: Ger Goold, Partner & COO, Kernel Capital; John Byrne, CEO, Corlytics Limited; David Mountjoy, Senior Manager, Corporate Banking Ireland, Bank of Ireland and Leo McAdams, Manager of Financial Services and BPO, Enterprise Ireland.Cork, Ireland 12th January 2017:
The Bank of Ireland Kernel Capital Growth Fund and Infinity Capital have led a €3m investment in Corlytics, a Dublin based world leader in regulatory risk intelligence. This investment of €1.65m by Kernel Capital brings its total investment in the firm to €1.9m. The investment also includes €750k from Infinity Capital and €500k from private investors.
“Corlytics’ solution is central to today’s global regulatory risk environment. We look forward to continuing to support CEO, John Byrne and the team as they build on their significant market success to date and continue to scale internationally.”
Ger Goold, Partner and Chief Operating Officer, Kernel Capital
Corlytics enables a more transparent and stable financial system by delivering world class regulatory risk intelligence. The company measures, predicts and calculates regulatory outcomes and impact, enabling customers and partners to understand their regulatory position, making more informed decisions. Corlytics who have offices in Dublin, London, New York and Boston have clients which include the Financial Conduct Authority, the Bank of England, global regulators and tier one accountancy firms.
Following the Investment Niall Olden, Managing Partner of Kernel Capital and Cyril McGuire, CEO of Infinity Capital have joined the Board.
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For further information please contact:
Dawn Walsh, Kernel Capital.
Tel: +353 21 4928974
Notes to Editors:
About Kernel Capital
Kernel Capital is an independent manager of the Bank of Ireland Kernel Capital Venture Funds, comprising of €210m / £165m of funds raised through six separate venture capital funds in the years 2002, 2006, 2007, 2009, 2013 and 2015. These Funds are supported by Bank of Ireland, Invest NI, Enterprise Ireland, University of Limerick Foundation, NUI Galway Foundation and New York State Common Retirement Fund. Kernel Capital is actively investing through the Bank of Ireland Kernel Capital Growth Funds targeting deal size for Kernel Capital’s element in the region of €1m to €5m in the ROI and £0.5m to £2m in NI, either as sole investor or larger deal size in syndication. These 10 year Growth Funds were raised in 2013 and 2015 and invest in Northern Ireland and the Republic of Ireland respectively. Invest NI’s investment in the Bank of Ireland Kernel Capital Growth Fund is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020. Kernel Capital is a MiFID regulated firm.