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Dublin: 10°C Thursday 24 September 2020

Venture capital investment increases in 2012

A new report shows an increase of 26 per cent on the amount invested in 2011.

Image: euro notes via Shutterstock

A NEW REPORT launched today shows a rise in the activity of venture capital firms supported by Enterprise Ireland seed and venture capital programmes.

Funds supported under the programmes made 135 investments in 84 Irish-based companies in 2012 with a value of €54 million – an increase of €11 million (26 per cent) on the amount invested in 2011.

Launching the report, Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, said that “with the right supports from government”, the seed and venture capital industry in Ireland can continue to grow.

“I am determined to ensure that we not only support the continued development of a strong multinational sector but also create a powerful engine of indigenous business,” Bruton said.

In May, the new €175 million Seed and Venture Capital Programme (2013-2018) was launched with the goal of leveraging a total of €700 million to provide additional funding for high-growth companies in Ireland.

The total funds under management by seed and venture funds supported by Enterprise Ireland programmes reached €636 million in 2012.

Julie Sinnamon, Enterprise Ireland Executive Director of Global Business Development, said that advances in access to seed and venture funding, coupled with a supportive environment, go a long way to making Ireland “a very attractive base to start and grow a business”.

Read: €16.2 billion in exports from Enterprise Ireland clients last year>

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