About Frontvale Partners
Frontvale is a private partnership that invests in transformative opportunities—deploying flexible capital and expertise across NexGen infrastructure, digital platforms, and social housing to drive sustainable growth. It was founded by Dermot Mulvihill in 2014 after his retirement from Kingspan, where he served as CFO for more than 30 years. Initially established as a family investment vehicle, Frontvale focused on building a diverse portfolio of cash-generating assets in Irish real estate and minority stakes in established Irish businesses.
Recognizing the increasing importance and opportunities in sustainable development, Frontvale evolved into a broader partnership, bringing together a team of highly skilled professionals from diverse backgrounds. Building on this foundation, we successfully expanded our investment mandate to include private credit, seed capital, and strategic investments across both digital and physical infrastructure. While staying true to our legacy of prudent wealth stewardship, we have also extended our partnerships to select external investors and business owners who share our commitment to sustainable growth.
NEXTDC’s P2 data center was built using Kingspan’s advanced insulated panel system
Now Launching: The Everlet Mezzanine Opportunity Fund
26-May 2025: Frontvale is pleased to be the anchor investor and co-lead promoter of a new residential development fund focused on social & affordable housing. Limitations with the amount of senior debt available to developers has lead to a slow down in construction, the Everlet fund will provide essential capital to developers of critical social housing infrastructure while delivering excellent risk-adjusted returns to investors
EUR 50 Million Fund Size
3 year closed fund covers deployment, management of project loans (average 2 year terms) and full redemption
15-20% Target Returns
Investors can choose between two products depending on their risk tolerance, traditional mezzanine debt that sits between Senior Debt and Equity and a preferred equity
EUR 100M+ Pipeline
Strong pipeline of social & affordable development projects that meet the fund’s core investment criteria in terms of developer experience and LTVs
Our Approach
Innovative Companies need Innovative Funding Solutions
Frontvale takes a flexible approach to capital deployment. We may self-fund a deal entirely, bring in select outside investors, or co-invest with family offices and private equity sponsors on third-party opportunities.
We tailor each investment to align with the strategic goals of all stakeholders, providing the right blend of capital, operational expertise, and strategic vision. We work closely with passionate founders and driven operators to create mutually beneficial opportunities that generate positive, risk-adjusted returns.
We believe that robust, future-ready infrastructure is the foundation for sustainable growth across industries. Much of our investment currently falls into the following three areas:
Infrastructure & Power Transition
As the world transitions to more sustainable power sources and the demand for high speed data continues to grow, we see great opportunity in the core infrastructure supporting offshore wind farms, global energy interconnection and data centers. In particular, we anticipate high demand for offshore network construction over the next five to ten years and are actively seeking strategic partners who can help us shape and expand our presence in this sector.
High Impact Digital Platforms
Frontvale has supported a variety of early-stage ventures in healthcare, telehealth, and health insurance—spanning Ireland and the U.S.—along with investments in technology-enabled services and payments. Investments range in size from EUR 100K for angel / pre-seed rounds, up to EUR 2M for Series A+.
We are currently cautiously evaluating opportunities in AI-driven startups where we see a strong fit with our existing portfolio and expertise.
Social & Affordable Housing
Over the past five years, our team has originated more than €500 million in senior loans to Irish developers. In response to the banks’ lower-leverage policies and the increasing scale of residential projects, we now offer alternative financing solutions, including mezzanine debt and preferred equity. Our focus is on social and affordable housing schemes that are pre-sold to local authorities, helping to address critical housing needs while delivering solid returns.
As the world transitions to more sustainable power sources and the demand for high speed data continues to grow, we see great opportunity in the core infrastructure supporting offshore wind farms, global energy interconnection and data centers. In particular, we anticipate high demand for offshore network construction over the next five to ten years and are actively seeking strategic partners who can help us shape and expand our presence in this sector.
Frontvale has supported a variety of early-stage ventures in healthcare, telehealth, and health insurance—spanning Ireland and the U.S.—along with investments in technology-enabled services and payments. Investments range in size from EUR 100K for angel / pre-seed rounds, up to EUR 2M for Series A+.
We are currently cautiously evaluating opportunities in AI-driven startups where we see a strong fit with our existing portfolio and expertise.
Over the past five years, our team has originated more than €500 million in senior loans to Irish developers. In response to the banks’ lower-leverage policies and the increasing scale of residential projects, we now offer alternative financing solutions, including mezzanine debt and preferred equity. Our focus is on social and affordable housing schemes that are pre-sold to local authorities, helping to address critical housing needs while delivering solid returns.
The Team
Industry insiders that bring strategic insight and hands-on experience to every investment
Dermot Mulvihill
Founding Partner
Dermot was the CFO for Kingspan for 20+ years. During his tenure, Kingspan went public in 1989 and became one of Ireland’s largest ...Read More
Fearghal Mulvihill
Managing Partner
Fearghal has 15+ years of deals experience which began when working on the Deals team for PwC in Dublin. He later worked on the Str...Read More
Matteo Iannucci
Partner
Matteo joined Frontvale after ten years in the sports and gaming industry during which he played an integral role in the $600M acqu...Read More
Niall Connell
Partner
Niall joined Frontvale after nearly a decade with Flutter in the US, where he served as General Manager of FanDuel and led the busi...Read More
Jeff Montagna
Industry Advisor
Jeff is the Managing Director for Iron Creek, a US based Private Equity firm which focuses on software and tech-enabled services in...Read More
Rory McEntee
Industry Advisor
Rory is a qualified solicitor and a licensed property service provider with a decade of experience in alternative development finan...Read More
Dermot Mulvihill
Founding Partner
Dermot was the CFO for Kingspan for 20+ years. During his tenure, Kingspan went public in 1989 and became one of Ireland’s largest public companies with a market cap of Eur 14 Billion.
As CFO, he oversaw the acquisition and integration of several companies including the European Insulation Division of CRH, Century Homes , Tate Global (US) and ATC (Middle East).After retiring from Kingspan, Dermot has sat on the board of several national interest companies including Coillte and FBD Insurance. He is an MBA and Chartered Accountant.
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Fearghal Mulvihill
Managing Partner
Fearghal has 15+ years of deals experience which began when working on the Deals team for PwC in Dublin. He later worked on the Structured Credit Risk team in Deutsche Bank in New York & London where he was primarily focused on RMBS and CMBS.
He most recently ran the Commercial Strategy team for TVG in Los Angeles.He is a CFA, ACA and received his MBA from Wharton Business School, with a major in Management. He also holds a BA in Management Science from Trinity College Dublin.
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Matteo Iannucci
Partner
Matteo joined Frontvale after ten years in the sports and gaming industry during which he played an integral role in the $600M acquisition of FanDuel by Paddy Power Betfair in 2018.
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Niall Connell
Partner
Niall joined Frontvale after nearly a decade with Flutter in the US, where he served as General Manager of FanDuel and led the business to become the #1 operator in the sports betting market. At FanDuel he oversaw large operational teams, scaled multi-state operations in a highly regulated environment, and drove major efficiency and process-improvement initiatives across the organisation.
At Frontvale, he focuses on operational value creation across the portfolio and supports the evaluation of investment opportunities in regulated, digital-first and infrastructure-adjacent sectors. Niall holds a degree in Management Science from Trinity College Dublin.
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Jeff Montagna
Industry Advisor
Jeff is the Managing Director for Iron Creek, a US based Private Equity firm which focuses on software and tech-enabled services industries with over $300M AUM.
Jeff received his MBA from IE Business School, with emphases in finance and economics. He also holds a B.S. in Accounting from the University of Southern California.
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Rory McEntee
Industry Advisor
Rory is a qualified solicitor and a licensed property service provider with a decade of experience in alternative development finance.
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