Ex Waystone management team launch new Venture Capital Firm to bridge the funding gap for Irish Fintechs
DataOp team with mentor David Morrissey
Glen Magee
Paul Cahill
The new firm is called DataOp and begins with 3 investments with FundRecs closing before Christmas and Wrky closing this week.
It follows on the launch of ComOp last year and like ComOp has a strong focus on Irish Fintechs with the thesis that there is a deep pool of innovators in Ireland that are constrained in achieving their potential due to the nascent domestic venture capital and private equity market.
Glen Magee speaking from the Cayman office of DataOp in Regatta Office Park explained that "while international venture capital and private equity are focused on Ireland it is generally from Series A and onwards. The gap from launch is generally met by an established angel investor community in the US, Britain, mainland Europe etc and this flows to an established venture capital community that again is nascent in Ireland. We see exceptional opportunity in this space and have the funding to take these companies through the formative phased to the Series As and beyond".
Paul Cahill also currently based in the Cayman office explained that "DataOp bring far more than equity and have deep connections to assist with recruitment, outsourcing of development, rebranding, pricing support and preparation for subsequent rounds. Some of the investments are already being assisted with internationalization and expansion through M&A".
DataOp (Data Optimisation) is focused on the evolution of data. The transition from data that is static and does not interpret, merely presents; generating more questions. We are looking to back companies that infer outcomes, consequences and present recommendations and answers.
DataOp as a sister company of ComOP is also focused on doing more with less; operating within a global landscape marked by increasing scarce human resources.
These shortages need to be filled by technology and the resources need to be able to operate more efficiently through utilization of smart and intuitive data rather than needing to manipulate it and interpret it.
Our investments in this sector are across KYC/AML, financial and portfolio data and employee ARR (Attraction, Retention & Reward) systems.
DataOp is owned by the partnership of Derek Delaney, Paul Cahill, Glen Magee and a small select group of family offices.
www.DataOp.com is the official website of DataOp
www.ComOp.com is the official website of Comop
Derek Delaney
DataOp
+353 87 622 4386
ddelaney@comop.com
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