Venture capital activity increased last year

Venture capital firms supported by Enterprise Ireland increased their activity in 2013, investing €59 million in 94 Irish companies.

A report published this morning shows a continued upward trend in the level and value of activity in venture capital funds supported by Enterprise Ireland seed and venture capital programmes.

According to the Enterprise Ireland Seed and Venture Capital Programme report, the funds made 153 investments in 94 Irish companies last year, a significant increase on the €54 million invested in 84 Irish companies in 2012.

Capital under management through Enterprise Ireland’s Seed and Venture Capital programme has reached almost €700 million.

Over the lifetime of this scheme (2007-2012), 50 per cent has been invested in the software sector and 35 per cent in the life sciences sector.

Minister for Enterprise Richard Bruton said the value of investments in Irish companies rose 9 per cent to €59 million, and the number of Irish companies which benefited was up 12 per cent to 94.

Enterprise Ireland chief executive Julie Sinnamon said the strong activity in 2013 continued in the first half of 2014.