Hospitality software founder Frank Reeves has launched a €5M fund to support early-stage travel and hospitality start-ups in Ireland and the UK.

The new fund, named Voyria, will be invested in early stage AI-focused start-ups in the travel and hospital sector . Support will be provided both financially and through mentorship.

Reeves sold his company, Avvio, in 2022 to US private-equity backed SHR Group. Avvio was one of the earliest AI-powered hotel booking engines in 2016, and became a dominant force in Ireland and the UK,  securing multiple rounds of funding from notable investors such as Enterprise Ireland in 2008, The Route Club in 2010, and Calculus Capital in 2014.

Tickets will be in the range of €50,000 to €250,000 and Reeves aims to get other like-minded entrepreneurs on board.

“I want to make a real difference to the start-ups I’m involved with,” Reeves said, “through sharing my experience of building, growing and selling a business and through angel investment if appropriate.”

“Voyria is a unique plant that draws the energy and nutrients it needs from nearby plants. This is what I want the Voyria Fund to do for the start-ups we work with – create a symbiotic ecosystem that really helps them thrive.”