Yesterday, the Irish Venture Capital Association released their most recent quarterly overview of venture investments made in Irish companies. Of the 58 investments worth €392M for which they have data, details are shown here for 38 for which they’ve published further information. This quarter, it’s Software and Lifescience plays by number in the lead.
Looking at the amounts invested, it’s notable that just two investments (Let’s Get Checked with €123M and Wayflyer with €62M) accounted for almost half of all the investment made in Q2. A fuller breakdown of the data is available from IVCA. They note two other trends of interest. Firstly, there is a near halving of investments in the €1M to €5M range, the range we see many of our university spin outs active in. It is to be hoped that this is just a temporary blip and indeed the year to date data for Q1 and Q2 combined shows overall health for this stratum of investment. Secondly, there is a big increase in activity by non-Irish investors with some 70% of funds raised coming from abroad in the year to date. Whilst this likely reflects the quality of investments to be found here, becoming too reliant on mobile capital that can go anywhere else in the world is a risk.