Belfast, Northern Ireland, 18th May 2018:
The Bank of Ireland Kernel Capital Growth Fund (NI) has led a £1.1m investment in Belfast based DisplayNote Technologies Limited, taking its total investment in the firm to £2m. Founded in 2012 DisplayNote has secured multi-million pound contracts with global blue-chip customers including NEC, Dell and Vodafone. The Company will use this investment for key hires as it builds upon its international customer base across the US, Europe and Asia.
“This investment will allow us to bring new products to market, invest further in R&D and grow our team as we continue to expand our global OEM and Enterprise customer base.”Paul Brown, CEO DisplayNote Technologies.
“We recognise the world class innovation within DisplayNote products, enabling people across the globe to collaborate in real-time, simply and effectively.” Jayne Brady, Partner Kernel Capital.
The Bank of Ireland Kernel Capital Growth Fund (NI) are committed to investing in innovative, export focussed Northern Ireland companies.
The Bank of Ireland Kernel Capital Growth Fund (NI) was designed to help SMEs in Northern Ireland to accelerate their growth. Invest Northern Ireland has committed £15 million of funding to this fund which is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020. Invest NI’s R&D support is part funded by ERDF under the EU Investment for Growth and Jobs Programme 2014-2020.
About DisplayNote https://www.displaynote.com/
DisplayNote Technology builds software making it easier for people to present, share, connect and collaborate in real-time across large-format displays, desktop and mobile devices. The company has partnered with some of the world’s largest manufacturers of display technology including NEC, BENQ and Sahara. DisplayNote’s products are now available in 22 languages, distributed globally and have been deployed on 3 million devices worldwide.
About Kernel Capital www.kernel-capital.com
Kernel Capital is an independent manager of the Bank of Ireland Kernel Capital Venture Funds, comprising of £165m / €210m 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 £0.5m to £2m in NI and of €1m to €5m in the ROI, 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.
For further information please contact:
Helen Norris, Kernel Capital.
Tel: +44 28 9042 8367