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Dublin: 4 °C Monday 24 November, 2014

Up to 100 jobs to be created by Dublin-based IT company

Version 1 is to be backed by a government investment fund.

Image: Hiriing via Shutterstock

A DUBLIN-BASED IT firm is expected to create up to 100 jobs after receiving backing from a government investment fund.

The BDO Development Capital Fund has today announced its first investment since the launch of the €75 million fund by the Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, in March.

The fund managed by Development Capital, a 100% subsidiary of BDO, has invested €8 million in Version 1, one of Ireland’s fastest growing IT services companies.

The funding will allow Version 1 expand into the UK market and employ up to 100 new staff in IT consultancy roles.

Announcing the Fund’s first investment, Sinead Heaney, founding Director of The BDO Development Capital Fund said:

“Version 1 is an excellent example of a growth focused, market-leading, Irish company – the type of company that this fund was set up to support. Throughout our process, we have been hugely impressed by Version 1’s management team and their track record of achievement. We are delighted to be joining the founder and management team to further accelerate the growth of the business.”

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