Joe Brennan

Venture capital company Draper Esprit, which is invested in a number of Irish technology companies, has reignited plans for a flotation in Dublin and London after raising €102 million.

The company, which was reportedly seeking to raise about £120 million (€156 million) late last year before postponing the IPO, expects to have a market capitalisation of €159 million at the time of its admission to trading on June 15.

Goodbody Stockbrokers and Numis Securities in London are advising the company, which was previously known as DFJ Esprit on the transaction.

Draper Esprit's Irish business is headed up by serial entrepreneur Brian Caulfield, a former partner with Trinity Venture Capital. His portfolio includes investments in companies such as Datahug, Mobile Travel Technologies, Getbulb and Movidius.

At the time of the flotation, the company will have minority stakes in a portfolio of 24 firms. It intends to invest in the companies comprising the initial portfolio and to pursue new investment opportunities.