The fund manager of Dublin Business Innovation Centre Alex Hobbs has been appointed chairman of the Irish Venture Capital Association.
He will replace Peter Sandsy, the managing partner of Seroba Life Sciences, who has completed his term in office. Hobbs has managed Dublin BIC‘s expansion into developing a commercial seed fund market in Ireland and is fund manager of the AIB Seed Capital Fund.
Hobbs, who holds a Bachelor of Commerce from UCD and an MBA from NUI Galway, has led the development of a 40-company portfolio that has scaled into international markets. Some recent successful exits include iCabbi, sold to international motor group Renault and REDT Energy.
Commenting on the importance of seed funding, Hobbs said: “Seed funding is critical to developing an indigenous technology sector with international market reach and reducing Ireland’s dependence on overseas investment.”
The Irish Venture Capital Association is the representative organisation for venture capital firms in Ireland. Since the onset of the credit crunch in 2008, in excess of 1,400 Irish SMEs have raised venture capital of €4.8bn.
Pictured Above: Alec Hobbs, Newly Appointed Chairman of the Irish Venture Capitalist Association