Latest news with #IrishVentureCapitalAssociation
Irish Examiner
26-05-2025
- Business
- Irish Examiner
Small firms lose out in venture capital splurge
Venture capital investment into Irish firms rose significantly during the first three months of the year to €532.8m but smaller firms have lost out as deal volume and value in their category fall, a new report has found. According to the Irish Venture Capital Association VenturePulse survey, published in association with William Fry, venture capital investment transactions increased by over 100% compared to the same period last year. In total, there were 43 venture capital investments completed between January and March but these were heavily weighted towards higher value transactions. Deals valued at €30m or higher accounted for €296.8m of the total venture capital spend during the first quarter. Funding in the €10m and €30m range rose by 184% to €132m, funding between €5m and €10m grew 138% to €43.8m while deals between €3m and €5m increased 346% to €35m. However, deals valued between €1m and €3m fell by 5% to €21.6m and deals under €1m fell by 42% to €3.6m with the number of deals in this category also dropping from 21 in early 2024 to six this year. Seed funding, or first rounds raised by small and medium-sized enterprises (SMEs), fell to €39.3m from €40.4m the previous year. Gerry Maguire, chairperson of the Irish Venture Capital Association (IVAC) noted that over 80% of the total in this quarter was 'due to deals worth over €10m' adding that the picture for start-ups raising under €3m was less rosy and this may reflect an imbalance in the market. The report showed the highest value deals during the first quarter included home lab test kits and healthcare solutions company Let's get Checked which raised €150m, Cybersecurity firm Tines which raised €115m followed by AI company Protex AI which raised €31.8m. Rounding out the top five were drone delivery firm Manna at €27m and medical technology manufacturer Perfuze at €22m. The first quarter of the year concluded before US president Donald Trump announced a raft of tariffs on all imports coming into the US so the full impact of the change was not captured in this report. Mr Maguire said that anecdotal evidence suggested that the uncertainty and caution caused by this, especially amongst international investors, is likely to show up in following quarters. Sarah-Jane Larkin, director general of the IVCA said that funding by international venture capital into Irish companies rose to 82% of the total, compared to 71% in the same quarter last year. 'This is a double-edged sword. While it reflects the high quality and potential of Irish tech firms and demand by overseas investors, it also reflects Ireland Inc's vulnerability to international influences if the tide goes out,' she said. According to the report, 45% of all the venture capital investment during this period went into the life sciences sector while 22% went to cybersecurity, and 9% went to software. Fintech investment and AI investment accounted for 8% and 7% respectively. Enterprise Ireland, the State agency responsible for growing indigenous Irish businesses, invested in five companies during the first quarter, according to the report. Of these, two were AI firms, Assidious Corp and Euryka AI, one is an virtual reality firm, VRAI, one was a medical technology firm Proverum, and the last was a whiskey cask exchange company LYQD. The VenturePulse survey data covers equity funds raised by Irish SMEs and other SMEs headquartered on the island of Ireland from a wide variety of investors. This research is based on the latest detailed information supplied internally by members of the IVCA and from published information where IVCA members were not involved.
RTÉ News
26-05-2025
- Business
- RTÉ News
VC funding into Irish SMEs soars in first quarter to €533m
Venture capital funding into Irish SMEs jumped to €532.8m in the first quarter of 2025, new figures from the Irish Venture Capital Association Venture Pulse survey shows. This was a record for a first quarter and marked a year-to-year increase of over 100%. The survey is carried out in association with William Fry. It showed that deals in the €30m+ category grew by nearly 90% to €296.8m, while funding in the €10m-€30m range soared by 184% to €132m. Meanwhile, deals between €5m-€10m jumped by 138% to €43.8m and funding in the €3-€5m surged by 346% to €35m from €7.8m the previous quarter. But deals in the €1m-€3m category fell by 5% to €21.6m, while deals under €1m fell by 42% to €3.6m from €6.2m the previous year. The IVCA said there was big a big fall in the number of deals in this category, down from 21 to six. Seed funding, or first rounds raised by SMEs, fell by 3% to €39.3m from €40.4m the previous year, it added. The total number of deals in the first quarter was 43, slightly ahead of the same quarter last year when the number of deals came to 41. Top five deals in the first quarter were lifescience company, Let's get Checked which raised €150m. Cybersecurity firm Tines raised €115m followed by AI company, Protex AI (€31.8m), drone delivery firm, Manna (€27m) and medical technology manufacturer, Perfuze (€22m). The first quarter excluded the impact of US "Liberation Day" tariffs on April 2, Gerry Maguire, Chairperson of Irish Venture Capital Association, said anecdotal evidence suggested that the uncertainty and caution caused by this, especially amongst international investors, is likely to show up in following quarters. Sarah-Jane Larkin, director general, IVCA said that funding by international venture capital into Irish companies rose to 82% of the total, compared to 71% in the same quarter last year. "This is a doubled edged sword. While it reflects the high quality and potential of Irish tech firms and demand by overseas investors, it also reflects Ireland Inc's vulnerability to international influences if the tide goes out," she added,
Irish Independent
25-05-2025
- Business
- Irish Independent
Irish tech companies bag record cash haul from VC firms, but small deals shrink
The latest tracking figures from the Irish Venture Capital Association show cash raised by Irish technology and life science deals doubling in the first quarter of this year to a new record of €533m Today at 09:00 Venture capital cash into Irish tech and life science firms doubled during the first three months of the year, hitting a new record of €533m, according to the Irish Venture Capital Association (IVCA) However, while the cash haul puts Irish tech and life science firms firmly on course for another year raising over €1bn, the portion of the money being raised by a tiny number of unicorns is growing, with deals under €1m for start-ups falling by almost half.
Business Post
24-05-2025
- Business
- Business Post
Awards reflect strength of finance industry
Now in its second year, the Irish Investor Awards, in association with Forvis Mazars, recognise and celebrate outstanding achievements in private equity and venture capital investment. And judging by this year's winners, that sector is showing remarkable resilience and strength in an uncertain world. John Bowe, corporate finance partner at Forvis Mazars, who host the awards, commented: 'The Irish Investor Awards are an awards night for private equity and venture capital firms that are investing in Irish companies, founders and management teams that are growing leading companies out of Ireland. They are backing teams to take risk, drive innovation and build champions across all sectors in the Irish economy. 'The awards also highlight a vital part of the ecosystem: the professional advisers and debt funders who make deals happen. Whether it's legal, tax, audit or corporate finance support, these professionals provide the structure and insight that allow deals to get done. Forvis Mazars is honoured to celebrate those individuals and firms who are shaping the future of investment in Ireland.' This year, the awards ceremony was held on 9 May, in the Round Room of the Mansion House in Dublin. Many of the top leaders in the finance industry attended the exclusive black-tie gala event, which honoured outstanding achievements, innovation, and dedication across 15 categories. Finalists gained the opportunity to network with peers and industry leaders, forging valuable connections in a distinguished setting. Once again, the event attracted a strong volume of high-calibre submissions, reinforcing the relevance and stature of the awards within the financial community. Winners and finalists were selected by a distinguished panel of 22 judges, comprising some of the most respected and recognisable figures in the financial sector. This year's judges were particularly impressed by the strength of the entries and industry as a whole. Sarah Jane Larkin is the director general of Irish Venture Capital Association and one of the high-profile judges of the Awards. 'Last year over €41.5 billion was invested in Irish companies through funds that were based here in Ireland,' she said. 'So the industry has changed and grown, and with all of the geopolitical movements at the moment, it's set to grow further in the years ahead.' Jill Thornton is event coordinator of the Irish Investor Awards with Ashville Media. 'We extend our sincerest gratitude to the esteemed panel of judges for their dedication and expertise in evaluating this year's submissions,' she said. 'Their rigorous assessment process has ensured that only the most deserving winners have been selected, reflecting the highest standards of achievement and innovation in private equity and venture capital investment.' There was an air of excitement at the event when the finalists convened to find out who were the winners of the coveted awards. The event was hosted by renowned Irish broadcaster Anton Savage, with keynote speeches delivered by Jack Chambers, the Minister for Public Expenditure, National Development Plan Delivery and Reform, and Tom O'Brien, managing partner and head of financial advisory at Forvis Mazars. Both commended the remarkable accomplishments of the award recipients and highlighted the Irish Investor Awards' growing prominence as a key fixture in the investment calendar. 'I was honoured to address the Irish Investor Awards 2025 on Friday where we recognised the highest standards across so many areas of business, finance and the investment community,' Chambers said following the event. 'I took the opportunity to thank all those who contribute so much to our economy, support employment and drive growth and innovation in critical sectors.' Awards on the night were handed out in categories such as Deal of the Year (sub €2.5 million, €2.5-€10million, and €10million+); Environmental, Social and Governance Deal of the Year; Portfolio Deal of the Year, Irish Private Equity House of the Year; and Rising Star Under 30. A standout moment was when the winner of the Lifetime Achievement Award, which was given by John Bowe to Denis O'Brien, founder of Digicel and Communicorp, took to the stage to receive his award. 'We're particularly proud to recognise Denis O'Brien's enduring legacy through the Lifetime Achievement Award,' he said. After another successful year, it's clear that the Irish Investor Awards are here to stay, having cemented their reputation as a premier occasion within Ireland's financial calendar – and a very welcome way to shine a spotlight on the individuals and firms driving innovation, growth and excellence across private equity and venture capital.
