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Government
westerndevelopment.ie

Investments

38

Portfolio Exits

4

Funds

1

Partners & Customers

2

About Western Development Commission

The Western Development Commission (WDC) is a statutory body that promotes social and economic development in the Western Region (Donegal, Leitrim, Sligo, Mayo, Roscommon, Galway, and Clare) of Ireland. The WDC Investment Fund (WDIF) funds businesses, community initiatives, and 'flagship' projects in the Western Region. It invests directly in sustainable projects, many of which may be experiencing a funding gap. The WDC looks for a financial return on its investments. It was founded in 1998 and is based in Ballaghaderreen, Ireland.

Headquarters Location

Dillon House Co. Roscommon

Ballaghaderreen,

Ireland

+353 (0)94-9861441

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Latest Western Development Commission News

Interceltic Business Forum to take place in Galway for first time

Feb 21, 2024

The Interceltic Business Forum, which brings together business leaders from Ireland, Scotland, Wales and Brittany, will take place in the west of Ireland for the first time this year. The Western Development Commission has announced that the event will take place at the Portershed in Galway on 19 April after previous editions took place in Lorient and Cardiff. The forum will be jointly organised by the WDC, Breizh Amerika, OCO Global, the Festival Interceltique de Lorient, Lorient Agglomération, the Scottish Business Network, CCI Morbihan, and the Club Wales-France Business Forum The event will provide opportunities for networking and knowledge sharing in the interests of strengthening economic ties between the regions. Tickets are free but limited . "Previous events in Wales and Brittany have proved not only to be opportunities for building connections but have unlocked partnerships for companies looking to trade or scale in other Celtic countries," said Allan Mulrooney, CEO of WDC. Business Bulletin "Working with our partners on the ground including Galway Chamber, the Mayor’s office, OCO Global and others, our team are looking forward to welcoming those travelling from Brittany, Scotland, Wales and encourage those based locally to join.” A delegation from Brittany will travel to Galway for the conference, led by Fabrice Loher, president of Lorient Agglomeration. The delegation will attend the event and will spend a number of days meeting with key stakeholders as well as taking in cultural tours. Some of the key topics already planned for the event include “Successfully Scaling your Business in Periphery Regions” and “Remote working and relocation: opportunities and challenges for Celtic counties.” Western Development Commission CEO Allan Mulrooney welcomed the decision to host the event in Galway. The one-day event will also host keynote addresses from business leaders from the Scottish Government in Ireland, Cardiff Council, Lorient and others. Photo: (l-r) Eddie Hoare, Mayor of Galway; Niall Burgess, Ambassador of Ireland to France, Allan Mulrooney, CEO of Western Development Commission. (Pic: Supplied)

Western Development Commission Investments

38 Investments

Western Development Commission has made 38 investments. Their latest investment was in CitySwift as part of their Series B on January 31, 2024.

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Western Development Commission Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/31/2024

Series B

CitySwift

$7.57M

No

3

12/20/2023

Seed - II

FeelTect

$1.64M

No

1

5/8/2023

Seed

Amara Therapeutics

$1.66M

Yes

Enterprise Ireland, and Undisclosed Investors

1

3/31/2023

Series A

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$99M

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10

11/18/2022

Seed

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$99M

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10

Date

1/31/2024

12/20/2023

5/8/2023

3/31/2023

11/18/2022

Round

Series B

Seed - II

Seed

Series A

Seed

Company

CitySwift

FeelTect

Amara Therapeutics

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Amount

$7.57M

$1.64M

$1.66M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Enterprise Ireland, and Undisclosed Investors

Sources

3

1

1

10

10

Western Development Commission Portfolio Exits

4 Portfolio Exits

Western Development Commission has 4 portfolio exits. Their latest portfolio exit was Atlantic Therapeutics on September 06, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/6/2023

Acquired

$99M

6

5/17/2021

Acquired

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$99M

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10

2/27/2018

Acquired

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$99M

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10

4/10/2017

Acquired

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$99M

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10

Date

9/6/2023

5/17/2021

2/27/2018

4/10/2017

Exit

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

6

10

10

10

Western Development Commission Fund History

1 Fund History

Western Development Commission has 1 fund, including WDC Investment Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

WDC Investment Fund

Project Finance

Closed

1

Closing Date

Fund

WDC Investment Fund

Fund Type

Project Finance

Status

Closed

Amount

Sources

1

Western Development Commission Partners & Customers

2 Partners and customers

Western Development Commission has 2 strategic partners and customers. Western Development Commission recently partnered with Zoom on March 3, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

3/10/2022

Partner

United States

Zoom endorses Connected Hubs as a leading global promoter for remote working - Western Development Commission

Zoom partnership with the Western Development Commission to support collaboration and innovation across rural and regional Ireland through remote working hubs .

1

2/15/2022

Partner

United States, and Ireland

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10

Date

3/10/2022

2/15/2022

Type

Partner

Partner

Business Partner

Country

United States

United States, and Ireland

News Snippet

Zoom endorses Connected Hubs as a leading global promoter for remote working - Western Development Commission

Zoom partnership with the Western Development Commission to support collaboration and innovation across rural and regional Ireland through remote working hubs .

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Sources

1

10

Western Development Commission Team

4 Team Members

Western Development Commission has 4 team members, including current Chief Executive Officer, Lisa Mcallister.

Name

Work History

Title

Status

Lisa Mcallister

Chief Executive Officer

Current

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Name

Lisa Mcallister

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Work History

Title

Chief Executive Officer

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Status

Current

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