Ex-Merrion chief John Conroy’s €75m food fund close to making first investment

State pitches €15m into Redesdale fund through Enterprise Ireland

The new food investment fund launched by former Merrion Capital chief executive, John Conroy, is closely examining three potential investments, it is understood. Its first potential investment is at an advanced stage.

Redesdale Group, the investment group founded by Mr Conroy, has raised €27 million in the first round of financing for the new fund which will target early stage food companies.

The Redesdale Food & Beverage Fund, which is aiming to have €75 million to invest, is backed by investors including Musgrave, the retail group that owns SuperValu; agribusiness Monaghan Mushrooms; drinks behemoth Coca-Cola; consumer foods group, Tate & Lyle; as well as US funds group, Lord Abbett.