News Formal

VC investment in Irish tech firms and SMEs flat in 2022

  • 📰 RTEbusiness
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 61%

Nigeria News News

Investment by venture capital firms into Irish tech firms and small businesses remained flat last year, according to new data.

A 47% reduction in fourth quarter funding to €244.6m left the total amount of money injected into Irish businesses by VCs during 2022 at €1.2 billion, similar to a year earlier.

"Despite a flat year, venture capital funding in Ireland last year performed reasonably well compared to global VC trends in which funding in 2022 fell by 35% to $445 billion," said Leo Hamill, chairperson of the IVCA. The figures however show a concerning flight of capital from international investors in the fourth quarter of the year.

"The flight of international capital in the fourth quarter highlights Ireland's exposure and the need to boost local sources of funding for scaling companies."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Venture capital investment fell sharply in fourth quarter of 2022Venture capital investment fell sharply in fourth quarter of 2022 via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »