Investment

Newly set up family office hires top staff and does its first big investment

A recently set up family office by an e-commerce entrepreneur has just done its first big deal after hiring a team of senior investment specialists.

Ireland-based Castlegate Investments set up late last year by Tommy Kelly, the founder of fashion e-commerce platform eShopWorld (ESW), has backed CWSI, an information technology and security business. Castlegate committed €21 million to the Dublin-based tech group, founded by three tech entrepreneurs and investors – Conor Headon, Philip Harrison and Ronan Murphy. 

Castlegate’s founder Kelly hired Roy Barrett last August to build an investment team for the new family office. Barrett was the former managing director of one of Ireland’s oldest and biggest investment groups, Goodbody. Barrett left after Goodbody was sold to AIB (formerly Allied Irish Bank) in March last year. 

Barrett has since hired a number of ex-Goodbody investment specialists to grow the family office’s portfolio. 

Kelly set up ESW in 2010 and grew it rapidly, selling 50% of the business in 2013 and his remaining share last year for an estimated €500 million. 

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