18th December 2018:
Niall Olden has advised that in Q1 2019 he is to step back from the role of Managing Partner Kernel Capital. In March 2019, Mr. Andrew Graham is to take the role of Managing Partner. Niall will continue as Partner, member of the Kernel Capital Fund Investment Committees and full-time committed to the firm.
Commenting on change of structure and new appointment Niall Olden said:
“Established in 1999 Kernel Capital has grown in scale and our objective is to remain a key player in Fund management for many decades. In that context, as founding Managing Partner it is important to understand when, and how, to step back from the lead role. This is necessary in order to ensure management stability and provide our institutional investors and potential new investors with long-term visibility on the structure and composition of our senior team, a team that will be managing investment contracts to 2030 and beyond.”
Andrew Graham (45), currently Director Bank of Ireland Corporate Banking, is a Fellow Chartered Accountant with strong deal-making expertise. For over 10 years Andrew has been actively involved in the Bank of Ireland’s investments as a Limited Partner, across a range of private equity and venture capital funds including Kernel Capital.
He is an experienced corporate financier who, for scaling SME’s and PLC’s, has negotiated, structured and executed capital financing transactions of €1m to €100m+ in deal size. During his time with Bank of Ireland, Andrew has developed and grew its domestic Leveraged Finance team and held responsibility for its Project Finance & Renewables team. He has a broad network of market contacts and this, combined with his corporate experience, will enhance the strategic ambition of our firm.
We are pleased to confirm this appointment will coincide with a broadening of our market offering in Fund management and a scaling of the Kernel Capital teams based in Northern Ireland and in the Republic of Ireland.
For further information please contact:
Dawn Walsh, Kernel Capital +353 (021) 492 8974
About Kernel Capital
Kernel Capital the trading name of Kernel Management Partners Limited is the independent manager of The Bank of Ireland Kernel Capital Growth Funds, investing in Northern Ireland and the Republic of Ireland. Kernel Capital funds are industry performance leaders having delivered Gross IRRs in excess of 20% per annum. Kernel Capital’s strategic alliance with Bank of Ireland, the wide range of institutional Limited Partners in the firm’s managed funds and its network of over 80 institutional portfolio co-investors, ensures Kernel Capital deliver ‘access to funding’ for scaling companies. To date, Kernel Capital have raised €210m in venture capital funds and have fund management mandates to 2025. With Kernel Capital’s assistance Kernel Capital fund portfolio companies have raised over €500m in equity and debt funding. Kernel Capital is the only Fund Manager with Funds dedicated to investing in both jurisdictions on the island of Ireland with investment teams based in Dublin, Belfast and Cork. The Firm leverages its extensive network to enable its portfolio companies to recruit the highest calibre people, to break into new international markets and to generate revenues of scale. Investors in Kernel Capital managed Funds include Bank of Ireland, Enterprise Ireland, Invest NI, 57 Stars / New York State Common Retirement Fund, The University of Limerick Foundation, Galway University Foundation and a number of Family Offices. Kernel Capital is regulated by the Central Bank of Ireland.
About Niall Olden
Niall established Kernel Capital in 1999 and has led multiple fundraisings, mergers, acquisitions and trade sales of Irish technology companies across the US, Europe and Asia. A Chartered Management Accountant, he holds a B. Comm from University College Cork (NUI) and an MSc International Business from Trinity College, University of Dublin. He is an elected Fellow of the Irish Academy of Engineering (FIAE) and a member of the Audit Committee of University College Cork. He has formerly held roles as a member of the Advisory Board of the Telecommunications Software and Systems Group (TSSG) Waterford Institute of Technology, Director of the Irish Venture Capital Association, member of The Cork Education & Training Advisory Board, member of InterTradeIreland’s Equity Steering Committee and mentor on the Kauffman Fellows Program at the Society of Kauffman Fellows, Palo Alto, C.A.