Podcast Ep 305: A revolution in investing in scaling Irish businesses is not Dublin-centric. It happens to come from Cork as Kevin Canning’s Quintas Capital targets €50 million in investments in 2026.
At the time of writing, it emerged that Quintas Capital had closed out its largest Employment and Investment Incentive Scheme (EIIS) fund to date worth €17 million involving 300 investors.
Operating from Cork with offices in Dublin’s Merrion Square, Quintas Capital has carved out a distinctive position in Ireland’s private markets landscape. The firm, spun out from an accountancy practice three years ago, has grown rapidly from €10 million in investments in 2024 to €35 million in 2025, with ambitious plans to break the €50 million mark in 2026.
“I prefer to celebrate profits, to be honest”
Quintas Capital’s practical approach to private markets reflects growing skepticism about venture capital model.
There is a marked characteristic to Kevin Canning’s investment ethos. His reasoning is that sustainable businesses that generate cash flow maintain their independence and avoid the pressure of appeasing investors – the Achilles heel of the many firms that go down the usual venture capital road.
Canning cuts straight to the point: “I prefer to celebrate profits, to be honest.” It’s a sentiment that challenges the prevailing narrative around Irish business investment, where fundraising announcements often receive more attention than actual returns.
Another interesting characteristic of Canning’s approach is Quintas invests in sectors it can see tangible societal value in Ireland – childcare, housing, hospitality. He reasons that by solving actual problems that affect people’s daily lives, these investments have built-in demand and social impact – thereby making them attractive to purpose-driven investors.
Beyond the venture capital bubble
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The firm’s approach represents a marked departure from the tech-focused venture capital that typically dominates investment headlines. Instead of chasing the next artificial intelligence breakthrough or software unicorn, Quintas focuses on what Kevin calls “less sexy industries that are really needed.”
Recent investments include a creche business, boutique hotels, and padel court facilities – all trading businesses with clear revenue models and employment generation potential. The strategy reflects a broader skepticism about venture capital’s current challenges in Ireland.
“Your typical VC fund will ask for a commitment up front, it might take five to six years to draw down that commitment, and it could take eight to 12 years to get your money back,” Kevin explains. “That’s a very long time horizon – 10 to 15 years to get your investment back as a private individual.”
Social infrastructure as investment opportunity
Quintas has found particular success in what it terms social infrastructure investments, capitalizing on Ireland’s growing population and stretched public services. The firm’s EIIS fund, which offers investors 50% tax relief, has focused on sectors addressing genuine market shortages.
“I’m a new father, and I can see how challenging it is to get a space in the creche,” Canning notes. “Same with hotels – they’re all under pressure. There’s a lot of pressure in Ireland on services and infrastructure.”
This approach has resonated with the firm’s investor base, which spans high net worth individuals, family offices, and institutional investors. Kevin describes how a recent investment in a housing development struck a particular chord: “A lot of investors feedback was that they loved the idea of helping to deliver housing into the country, because it’s in such shortage.”
The rise of family office capital
The firm’s success reflects the growing sophistication of Irish private wealth. Kevin outlines three distinct tiers in the market: high net worth individuals capable of €250,000-plus investments, typically tech executives; multi-family offices for those who have sold businesses for €30-100 million; and single family offices for individuals with exits exceeding €100 million.
“You’d be surprised at how prevalent wealth is in Ireland,” he observes. “There are different levels, and we interact with all of them.”
This domestic capital pool has become increasingly important as international funding becomes more selective, with overseas investors focusing on fewer, larger deals in capital-intensive sectors like AI.
Balancing act for Irish economy
The conversation touches on broader questions about Ireland’s economic balance. While acknowledging the importance of foreign direct investment and indigenous tech companies, Canning argues for a more diversified approach.
“We need big Irish indigenous companies,” he says. “But it’s great to have a sustainable business that makes profits. You don’t need to raise money, you become your own boss, you don’t have investors you need to appease.”
This philosophy extends to his views on pension fund reform, a topic that emerged at recent Scale Ireland events. Rather than directing pension money solely toward venture capital, Kevin advocates for “a broader range between private equity, real estate and venture.”
Regional perspective
Being based in Cork while maintaining Dublin operations provides Quintas with what Kevin suggests is a useful perspective on Ireland’s investment ecosystem. “I’m fairly sure we’re the only private market investment firm in Cork,” he notes. “Every other investment firm in the country seems to be in Dublin.”
The firm’s three business lines – EIIS funds, private equity, and real estate investments including private credit and housing developments – reflect a diversified approach to private markets that Kevin believes offers more stability than pure venture capital strategies.
Looking ahead, as Quintas raises a new EIIS fund, building on the success of last year’s €8 million raise. The firm has also completed its largest ever private equity investment, a multi-jurisdictional technology business that Kevin describes as “large and profitable” – though details remain under non-disclosure agreement at the time of the interview.
The strategy is to maximise the EIIS scheme’s 50% tax relief for investors while focusing on employment-generating business.
In an investment landscape increasingly dominated by headlines about funding rounds and valuations, Quintas Capital’s focus on profitable, employment-generating businesses in essential sectors suggests an alternative path – one where sustainable returns take precedence over growth at any cost.
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