€5.5m investment in new crèches

A newly established childcare group plans to launch a network of state-of- the-art crèches, it announced this week.

Starting with a flagship, purpose-built facility in Bayly, Douglas, Zenith revealed on Tuesday its “ambitious plans” to expand to four crèche facilities catering for up to 500 children by the end of 2025.

It comes as Quintas Capital, a boutique investment firm and manager of the EIIS Innovation Fund, announced a €2.25 million investment in Zenith Childcare, with a further €3.25 million earmarked for 2025. This marks the fund’s first significant investment in the company, aimed at addressing the growing need for childcare facilities in Ireland.

The EIIS Innovation Fund 2024 is targeting €8 million to support three to four Irish businesses in the social infrastructure sectors, such as renewable energy, childcare, and healthcare.

Kevin Canning, Managing Director of Quintas Capital and Investment Director of the EIIS Innovation Fund, said: “This investment is a significant milestone for the EIIS Innovation Fund. Zenith Childcare, founded by two seasoned industry professionals, is well-positioned to address Ireland’s growing demand for high-quality childcare services. Our fund has a robust pipeline of similar investments across the country.”

Zenith Childcare is led by Charlene Roche and Stephen Moore.

She said: “With the government’s push for accessible and quality childcare, we’re excited to support a new wave of crèche development.”

Stephen Moore, previously Group Finance Director of Nua Healthcare and investor in various businesses, commented: “Zenith aims to build childcare for Ireland’s future by creating purpose-built facilities that will help meet the immediate need for increased capacity This partnership with Quintas Capital enables us to achieve our vision.”