Ireland-based investment firm Elkstone has raised around €5 million in strategic capital from a range of investors, including Dalata hotel group founder Pat McCann, according to a statement by the firm. McCann, who is also Chairman of the firm, said:
“I take great pride in being a part of Elkstone’s future plans as the premier Investment House in Ireland, dedicated to supporting entrepreneurs, senior executives, institutional LPs, the venture community and the Irish diaspora. Elkstone is adding to the Irish landscape with its unwavering dedication to putting clients first and empowering visionary founders and clients alike. Their forward-thinking approach is paving the way for a new type of all-island investment.”
Elkstone is an investment house that focuses on entrepreneurs, senior executives, institutional LPs, VCs, and the Irish Diaspora. Elkstone explains that it is serving a “new island economy” and a new generation of investors. The capital infusion will help the firm invest in housing, venture, and other impact areas across the island of Ireland. A new client-focused digital platform is in the works.
Alan Merriman, Elkstone’s Chief Executive, said they were pleased that clients are now among their shareholders, calling the investment the best possible endorsement of the firm. Merriman said they want to build a “special Irish business” that has a lasting impact. He added that their client base includes some of Ireland’s most successful entrepreneurs and top executives, as well as global family offices and international investment firms.
“Elkstone is positioned in the Irish market to help in a meaningful way with ongoing housing challenges; fostering further the Irish venture ecosystem; and improving access to sophisticated wealth management and impact investing – across the entire Island of Ireland.”
Elkstone says it is best known for being a top early-stage venture investor, backing top Irish firms such as Flipdish, LetsGetChecked, Manna, and Soapbox Labs.
At the same time, Elkstone has been active in the real estate market. To date, Elkstone has enabled over €2 billion of real estate transactions.
Now they are pushing further into private wealth management.
Elkstone reports over €100 million invested in early-stage firms, having backed 50+ startups, creating more than 1000 jobs. Elkstone’s strategy focuses on nurturing the vibrant Irish ecosystem by helping startups to scale internationally.