The Tech Firms Who’ve Raised €500m Venture Capital

20 Sep 2017 | 10.16 am

The Tech Firms Who’ve Raised €500m Venture Capital

Q2 funding listing from Irish Venture Capital Association

20 Sep 2017 | 10.16 am

Irish technology companies raised a record €499m in venture capital funding in the first half of 2017, according to the Irish Venture Capital Association.

The IVCA/William Fry VenturePulse survey for the first half of 2017 records a 3% increase in total funds raised when compared with the same period last year.

Notable deals during H1 2017 included Dublin-headquartered biotech firm Iterum Therapeutics’ €58m fundraiser in May, as well as fintech startup Plynk, which raised €25m in June.

Who raised how much? Download IVCA Q2 Venture Pulse

Peter Sandys (pictured), chairman of the IVCA, said that H1’s fundraising tally was impressive considering that activity was down 11% year on year in the US, and that 2016 was a record year in Ireland.

He added that while the Irish venture capital community continues to be the main source of funding for Irish SMEs both through direct investment and as the local lead investor for international syndicate investors, the importance of good global relationships is once again emphasised.

“International players invested €135m in the second quarter of 2017, bringing the total for the first half to €255m, or 51% of total funds raised. This compares to investment by international syndicates of €205m in the first half of 2016,” he said.

Regina Breheny, director general of the IVCA, added that following on from a strong first quarter, life sciences once again influenced activity in quarter two, accounting for 50% of funds raised. Three companies raised over 43% of total funds.

Growth/expansion funding accounted for 91% of total funds raised in quarter two. In Q2, early stage companies raised seed capital of €23m (9% of funds raised), bringing the total in H1 2017 to nearly €57m (11% of funds raised).


Pix: Karl Hussey/Fennell Photography

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