Kernel Capital

Venture Capital and Private Equity PrincipalsIreland11-50 Employees

Kernel Capital is a Central Bank of Ireland regulated and UK Financial Conduct Authority authorised venture capital firm based in Ireland. Operating from Cork, Belfast and Dublin, Kernel Capital is focused on investment and international M&A engagement with IP rich companies that innovate through: Silicon Chip Design, Photonics, Micro-Fluidics, Sensors and Systems and Data Management, all sectors with significant AI opportunities. 

Kernel Capital was established in 1999 raising €270M from Irish, UK & US institutional investors, with the Bank of Ireland, Kernel Capital’s strategic partner and largest investor. Co-investors are Enterprise Ireland, Invest Northern Ireland, New York State Common Retirement Fund / 57 Stars, University of Limerick Foundation, Galway University Foundation and a number of Irish Family Offices. 

Kernel Capital have led 80+ portfolio companies, employing 1,200+ in mid-market corporate transactions (€25M - €125M) across the US, Europe, and Asia, completing 25+ trade sales, two IPOs (ISEQ & AIM) and a number of MBO’s. Led and completed 250+ fundraisings, on behalf of our portfolio of Irish technology companies, in aggregate raising €1.5BN+. 

An astute vision for each of our portfolio company’s potential, our hands on engagement, attention to detail, combined with our deep and extensive global network, enables Kernel Capital deliver superior returns to our investors. Multiple of our Fund IRR’s exceed 20% Gross, fully realised ‘all cash’ KPMG Audited, monetizing wealth for our portfolio company entrepreneurs and for our investors. 

In 2023 we established Kernel Strategic our boutique M&A business. At Kernel Strategic, we focus on maximising ‘realisation value’ of deep IP companies, aligning commitment our executives invest their own money on pari pasu terms to existing investors at the time of our engagement. We operate on a ‘no foal no fee’ basis we do not charge retainer or expense fees, we target realisation event with 18 months.

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