Enterprise Ireland, Investment Arm is an investment arm of Enterprise Ireland specializing in direct and fund of funds investments. Within direct, it makes private equity and venture capital investments in seed, startup, very early stage, and growth capital investments in small to medium enterprises. It does not invest in companies involved in activities that fall within gambling or "gaming" as defined in the Gaming & Lotteries Act 1956. The firm seeks to invest in digital content, industrials, life sciences, medical devices and pharmaceuticals, biotechnology, clean technology, green energy, SaaS, cloud computing, enterprise software and services, telecommunication, computer games, electronic components, mobiles, internet, media and entertainment, financial and professional services, food and innovative consumer products, technology companies, manufacturing, and internationally traded services sectors. It also invest in Technical and consulting services, Commercial laboratory services, Administrative/service centres, co-ordination and headquarters services, Research and development services, Media, multimedia and recording services, Entertainment and leisure services, Training services, Publishing services, International Financial services, Healthcare services, Construction related services, Environmental services, Supply Chain Management and Logistics Management services, Commercial international standards bodies, Technology test centres, Prototype laboratory services, Intellectual property services, Group Procurement, Shipping services, Education Services), ICT, industrial, consumer products, aviation, communication technology, fin-tech, payments, banking, security, regulation and insurance, and involving technologies like blockchain, artificial intelligence, technology hardware and equipment’s, and electronic components. It seeks to invest in companies based in Ireland, Western and Border Counties of Ireland with a focus on Galway, Mayo, Uzbekistan, Turkmenistan, Tajikistan, Kyrgyzstan, Kazakhstan, Georgia, Azerbaijan, Armenia, Estonia, Belarus, Latvia, Lithuania, Moldova, Russia, Ukraine and Roscommon. The firm seeks to invest less than €0.5 million ($0.71 million) in first round in companies with annual sales of €1 million ($1.31 million) to $1.42 million and employ 10 or more within three to four years of start-up. It seeks to provide equity, quasi equity or debt of between €2 million ($2.59 million) and €10 million ($12.97 million) to established investee companies. It does not propose to commit to funds with total capital commitments of less than €75 million ($97.26 million). It also prefers to co-invest in its portfolio companies. Within fund of fund investments, the firm specializes in investing in venture capital funds, which in turn invest in start-ups. The firm prefers to take a maximum stake of 10 percent in its portfolio companies. Enterprise Ireland, Investment Arm is based in Dublin, Ireland.