Bank of Ireland invests €10m in Venturewave Capital’s Impact Ireland USA Fund, backing high-growth Irish firms with global ambitions and impact goals.
Bank of Ireland has announced a €10 million investment in Venturewave Capital’s Impact Ireland USA Fund, becoming the first Irish pillar bank to back the initiative.
The investment is aimed at supporting high-growth Irish businesses with international expansion plans while promoting measurable environmental and social impact. It also marks a significant commitment by one of Ireland’s largest financial institutions to the growing impact investment sector.
“This investment enables us to go further in both supporting innovative Irish businesses to scale internationally while also contributing to positive environmental and societal outcomes”
Managed by Venturewave Capital, the Impact Ireland USA Fund is the firm’s third Impact Ireland fund. It invests in mission-driven technology companies operating across health, education, food and agriculture, climate and sustainable finance. The fund focuses on Series A and Series A+ businesses whose activities align with the United Nations Sustainable Development Goals.
KEY NUMBERS: Bank of Ireland’s Venturewave Investment
• €10m investment in Venturewave Capital’s Impact Ireland USA Fund
• First Irish pillar bank investor in the fund
• Third Impact Ireland fund managed by Venturewave Capital
• Focus on high-growth Series A and A+ technology companies
• Investments aligned with UN Sustainable Development Goals
• Five target sectors: Health, Education, Food & Agriculture, Climate, Sustainable Finance
• €17.7bn sustainability-related lending by Bank of Ireland at end-2025
• €15bn sustainability lending target exceeded ahead of schedule
• €30bn sustainable finance ambition targeted by 2030
• Bank of America and FM also backing the fund as pillar investors
Editorial takeaway: The investment combines growth capital for Irish scale-ups with Bank of Ireland’s broader €30bn sustainable finance strategy, strengthening Ireland’s impact-investing ecosystem and international reach.
The power of impact investing
Impact investing seeks to deliver financial returns alongside positive environmental and social outcomes. The model is designed to demonstrate that commercial performance and societal impact can be achieved together.
The investment supports Impact Ireland’s wider goal of strengthening Ireland’s position as an international hub for impact investment by connecting Irish companies with global capital, expertise and markets.
Myles O’Grady, Group chief executive of Bank of Ireland, said the investment reflects the bank’s commitment to supporting Irish businesses and sustainability initiatives.
“At the core of Bank of Ireland’s strategy is our strong support for Irish businesses at home and on the global stage. We pair this with a firm commitment to sustainability and to playing our part in helping tackle some of the challenges society faces today.
“This investment enables us to go further in both supporting innovative Irish businesses to scale internationally while also contributing to positive environmental and societal outcomes. Impact Ireland brings together capital, entrepreneurship and international expertise and we’re delighted to be part of it.”
The investment aligns with Bank of Ireland’s sustainability strategy through to 2028, which includes support for the green transition, housing, social infrastructure and social inclusion. The Bank reported sustainability-related lending of €17.7 billion by the end of 2025, surpassing its €15 billion target, and is working towards a sustainable finance ambition of €30 billion by 2030.
Commenting on the announcement, Kieran McLoughlin, co-founder and managing partner of Venturewave Capital, said: “Bank of Ireland becoming our first Irish pillar investor is particularly significant. Impact Ireland was created in Ireland with a global ambition, and having a Irish financial institution with such reach and reputation invest alongside our international partners strengthens both the fund and the businesses we support.
“Bank of Ireland brings an exceptional understanding of Irish enterprise, together with significant financial expertise and a commitment to sustainability. We look forward to the contribution Bank of Ireland can make to the wider Impact Ireland community.”
With Bank of Ireland joining as a pillar investor, the fund now counts Bank of America and FM among its key backers. Venturewave Capital said the combined participation of the three organisations will provide portfolio companies with access to additional expertise, networks and international growth opportunities as they scale in overseas markets.
Image at top: Alan Foy and Kieran McLoughlin from VentureWave Capital
Frequently Asked Questions: Bank of Ireland’s €10m Venturewave Investment
What has Bank of Ireland invested in?
Bank of Ireland has invested €10 million in Venturewave Capital’s Impact Ireland USA Fund, becoming the first Irish pillar bank to back the fund.
What is the Impact Ireland USA Fund?
The Impact Ireland USA Fund invests in high-growth, mission-driven technology companies that can deliver both financial returns and measurable environmental or social impact.
Which sectors does the fund target?
The fund focuses on companies operating in:
- Health
- Education
- Food & Agriculture
- Climate
- Sustainable Finance
What stage companies does the fund support?
Venturewave Capital targets Series A and Series A+ technology companies with strong growth potential and international ambitions.
Why is this investment significant?
It marks the first investment by an Irish pillar bank in the Impact Ireland USA Fund and strengthens funding options for Irish businesses seeking to scale globally.
What is impact investing?
Impact investing aims to generate financial returns while also creating positive and measurable social or environmental outcomes.
How does the fund support Irish businesses?
The fund connects companies with growth capital, international investors, strategic expertise and global market opportunities.
Who are the other pillar investors in the fund?
Bank of Ireland joins Bank of America and FM as pillar investors in the Impact Ireland USA Fund.
How does the investment align with Bank of Ireland’s strategy?
The investment supports the bank’s focus on Irish business growth, sustainability, social inclusion and the transition to a more resilient economy.
What are Bank of Ireland’s sustainable finance targets?
Bank of Ireland had reached €17.7 billion in sustainability-related lending by the end of 2025 and is targeting €30 billion in sustainable finance by 2030.
What is Venturewave Capital?
Venturewave Capital is an Irish investment firm that backs high-growth technology companies focused on delivering commercial success alongside positive societal impact.
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