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Atlantic Bridge Ventures launches a new technology fund, ABVEN I


Atlantic Bridge Ventures: London and Dublin, 16 May, 2005 -- The partners of new technology venture capital firm, Atlantic Bridge Ventures, have announced its successful first close and launch today. The new pan European fund with offices in Dublin and London will focus on making early and mid stage technology investments in semiconductors, enterprise software and mobile technology across Europe with a strong focus on a US transatlantic business building and exit model.

Atlantic Bridge also announced today that its fund ABVEN I has closed on commitments of Eur. 50 million, having received strong interest from institutional and private investors. Fundraising for a second closing is expected later in the year. By achieving a first close, Atlantic Bridge is one of the few successful European venture capital teams to launch a new fund since 2000.

Atlantic Bridge brings together a unique team of technology entrepreneurs, corporate finance and investment experts with a wealth of international business experience across Europe, US and Asia.

The fund is led by four partners; Brian Long, founder and former CEO of semiconductor company Parthus Technologies plc (now Ceva Inc.); Paul Harvey, former European Head of Technology Investment Banking at Goldman Sachs; Kevin Dillon, former VP of Microsoft Europe, Africa & the Middle East; and Elaine Coughlan, former CFO of Parthus Technologies.

The fund has a wealth of expertise within its multi disciplinary team of venture partners which includes; Peter McManamon (co-founder Parthus plc), Larry Quinn (former CEO Aldiscon and Logica Wireless Networks), Mark Horgan (former CEO Mentor Capital), Gerry Maguire (former SVP Parthus Technologies) and John Hartnett (Senior VP Americas Palm One).

In addition to providing finance, the Atlantic Bridge team will use their extensive operating experience to build businesses that will focus on maximising shareholder value by delivering strategic and operational value to its transatlantic investment portfolio.

Brian Long commented; 'At Atlantic Bridge we will identify, finance, drive, and support the strongest young technology companies and teams that possess the most potential for global reach in what we believe to be a very attractive and exciting market.'

Paul Harvey added; 'As a group of individuals that have really enjoyed working together over long periods on significant projects, we at Atlantic Bridge believe our team culture, dynamism and resources will see us become one of the leading Pan-European venture capital teams, bringing extremely attractive European investment opportunities to fruition in an international environment underpinned by our transatlantic model.'

Mr Dermot Desmond, founder and Chairman of International Investment and Underwriting (IIU) commented; 'We are delighted to have the opportunity to invest in this new fund and believe the entrepreneurial and international business skills of this team will be a key factor in delivering strong returns for shareholders.'


About Atlantic Bridge Ventures: Atlantic Bridge Ventures is a new pan European fund with offices in Dublin and London focused on making early and mid stage technology investments in semiconductors and software across Europe with a strong focus on a US exit model. Atlantic Bridge is comprised of a cohesive, dedicated team of experienced professionals who are committed to the success of the investee companies. All of our team members come from an industry background and have first hand experience of the challenges involved in growing technology companies from the startup stage into profitable businesses. Many of these companies have had successful exits either on the public markets or through trade sale. More information can be obtained at www.abven.com

About IIU: International Investment & Underwriting ('IIU') is a private company, founded in 1994, operating from Dublin's International Financial Services Centre ('IFSC'), specialising in direct equ


Publisher Contact Information:

Atlantic Bridge Ventures
+353 (0)1 603 4454
brian.long@abven.com

Company profile of Atlantic Bridge Ventures
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