Iona Star LP Secures £22M for AI and Data Fund

Iona Star LP has announced the successful £22 million first close of its new AI and data venture fund, targeting companies at the forefront of AI, data, and technology innovation.

• Strategic Backing: The fund raised £10 million from Castelnau Group and £10 million from Frasers Group, both contributing strategic insights to boost the fund's potential.

• Global Focus on AI and Data: The fund aims to invest globally in companies working at the intersection of AI, data, and technology, with investments ranging from £1 million to £3 million.

• Experienced Leadership: Led by industry veterans Gerry Buggy, Mike Powell, Graham Ferguson, and Kevin McGivern, the Iona Star team brings extensive experience in scaling businesses and driving growth.

• Proven Track Record: Iona Star's first fund achieved notable exits, such as Quantile’s acquisition by the London Stock Exchange Group and RxDataScience’s sale to Syneos Health.

• Seeking New Partners: With a target final close of £40 million by year-end, Iona Star is looking for partners interested in shaping the future of AI and technology.

Iona Star LP's new fund is set to drive innovation in AI and data, leveraging strategic partnerships and industry expertise to accelerate growth for groundbreaking companies in the tech space.