Investment highlights FM’s commitment to Ireland and
focus on supporting more businesses in the country
JOHNSTON, R.I., USA, 2026 – Commercial property insurer FM today announced it has made a significant investment in Impact Ireland USA LP, one of three venture capital funds managed by VentureWave Capital.
The Impact Ireland funds invest in high-growth, mission-driven Irish technology companies whose business models advance the United Nations’ 17 Sustainable Development Goals in a range of sectors, including health, education, climate, food and agriculture, and sustainable finance. They focus on enterprises that can help build connections with Ireland to rest of the world, including the United States, the Middle East, Africa and Southeast Asia.
With its investment, FM is among one of the largest single investors in the fund.
“We are honored to participate in the Impact Ireland fund and proud to support the next generation of entrepreneurs and innovators shaping the future of business in Ireland,” said Randy Hodge, chief operating officer of FM, who will join the fund’s Global Advisory Council.
Hodge added: “FM’s investment in the Impact Ireland fund highlights our growth ambitions in the country and broader European region. We believe we have a significant opportunity to bring FM’s unique engineering- and science-based approach to commercial property insurance to Ireland and help more businesses build resilience, protect their operations and prevent losses before they happen.”
“We could not have hoped for a more fitting partner,” said Kieran McLoughlin, co-founder and managing partner, VentureWave Capital. “FM is a mutual company that has delivered industry-leading loss-prevention solutions on a global scale for almost two centuries. Its decision to support Impact Ireland represents a powerful endorsement of what we are building and of Ireland as a global hub for scaling enterprises and measurable impact.
Such is the scale of this investment that it alone brings us very close to our final goal. FM’s commitment to this country is real and visible, from its support of Rory McIlroy to this investment and we are proud to welcome them.”
FM has a growing presence and interest in Ireland. In addition to its contribution to the Impact Ireland fund, FM in 2025 announced a multi-year strategic partnership with Northern Irish PGA TOUR star Rory McIlroy. FM is also a principal partner in Boston Common Golf, one of six teams in TGL presented by SoFi, an innovative golf league in partnership with the PGA TOUR that combines advanced technology and live action play. McIlroy is a member and co-owner of the Boston Common Golf team along with Fenway Sports Group, and a co-founder of TGL.
About FM
Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.
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About Impact Ireland and VentureWave Capital
The Impact Ireland funds were founded and are managed by VentureWave Capital, a Dublin-based, actively managed venture capital group that invests in and builds global “technology for good” companies from Ireland. The fund adheres to the principles of impact investing – generating a return for society as well as for investors – and invests in profit-driven companies that advance the United Nations’ Sustainable Development Goals. VentureWave Capital is registered with the Central Bank of Ireland and the Securities and Exchange Commission in the the US. A unique feature of the funds is that all investors are invited to join the Global Advisory Council and participate in advancing the funds’ mission. Chaired by former Taoiseach (Prime Minister) Enda Kenny, the membership of the Council is available here – https://venturewave.com/global-advisory-council/
For more information, visit www.venturewave.com.
