Kernel Capital divestes it's interest in Seroba Kernel Ltd.
Kernel Capital

Cork, December 03, 2015

Kernel Capital and Seroba Kernel confirm that Kernel Capital has divested its interest in Seroba Kernel Ltd., General Partner of the Seroba Kernel Life Sciences Fund II.

In 2009 Kernel Capital and the Partners at Seroba Bioventures created Seroba Kernel Ltd. The firm established the Seroba Kernel Life Sciences Fund II, a venture fund focussed on European therapeutic and medical device companies. This Fund is successful and following the divestment of portfolio companies Covagen, Xention and Apica the Fund has delivered strong returns for investors. Today's announcement will not alter the existing Fund or its investment structures. The Bank of Ireland Kernel Capital Private Equity Fund, managed by Kernel Capital, is a Limited Partner of the Fund and is represented on the Fund's Partnership Advisory Committee.

This announcement represents the natural evolution of two maturing successful businesses Kernel Capital and Seroba Kernel. Seroba Kernel will be rebranding as Seroba Life Sciences and will raise new funds focused on European therapeutic and medical device companies. Kernel Capital, will focus on investing in high growth innovative companies in the Republic of Ireland and in Northern Ireland, through its Bank of Ireland Kernel Capital Growth Funds raised in 2014.

About Kernel Capital
Kernel Capital is manager of the Bank of Ireland Kernel Capital Venture Funds and has in excess of €170m under management, Kernel Capital's Funds are supported by Bank of Ireland, Enterprise Ireland, Invest NI, University of Limerick Foundation, NUI Galway Foundation and Family Offices. The Bank of Ireland Kernel Capital Venture Funds portfolio of 80+ companies employ over 1,200 people in Ireland.

About Seroba Life Sciences
Seroba is a European life sciences venture capital firm, focused on investing in breakthrough healthcare technologies that promise to improve lives and make a difference worldwide. Headquartered in Ireland, Seroba works with some of Europe's best entrepreneurs developing innovative medical devices, diagnostics and therapeutic drugs.
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