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News : Irish Last Updated: Dec 19th, 2007 - 13:17:15

€183m invested since 2001 by Enterprise Ireland Partnership Funds in 99 companies; Compares with €30bn invested in Irish and overseas commercial property in same period
By Finfacts Team
Jul 25, 2006, 15:15

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Feargal Ó Móráin
According to the Enterprise Ireland Seed and Venture Capital Report, 2005 saw increases in the level of investment by the Irish venture capital sector. This increase follows a period of consolidation in recent years. The report was launched by
Feargal Ó Móráin, Executive Director, Enterprise Ireland and Chairman of the Enterprise Ireland Seed and Venture Capital Committee.

When launching the report Feargal Ó Móráin stated that, “Enterprise Ireland saw a further increase on the number of investments by venture capitalists compared with the previous year. This brings to €50 million the total sum invested by the Enterprise Ireland Partnership Funds in 2005”.

The report outlines in detail the venture capital activity that has occurred as a result of Enterprise Ireland’s investment under the Seed and Venture Capital Programme 2000-2006 and the EU Seed and Venture Capital Measure 1994 -1999.

The total monies invested since 2001 by the Enterprise Ireland Partnership Funds amounted to €183m in 99 companies. Furthermore, the report outlines that since the establishment of this Scheme, 83 per cent of total capital invested was directed at start-up companies. In the same period, investment (equity and borrowings) in Irish and overseas commercial property amounted to €30bn, according to Bank of Ireland Private Banking.

Last week, Ion Equity said that total venture capital investment in Irish firms in 2006 will be less than €200m.

Welcoming the publication of the report the Minister for Enterprise, Trade and Employment, Mr Micheál Martin, welcomed the investments that have been made and the progress that has been achieved towards developing a vibrant and competitive venture capital sector.

Martin said: “The Small Business Forum in its report, Small Business is Big Business, clearly made the case for continuing action to broaden access to finance for SMEs. Continuing venture capital funding is part fulfillment of that recommendation”.

“The achievement to date provides the foundations for the successful role out of the Seed and Venture Capital Scheme (2007-2012). Enterprise Ireland will invest €175m and together with private sector investments this will generate total funding of €1 billion in start-up, early stage and development stage businesses going forward”.

“Enterprise Ireland’s strategy is to contribute to the development of competitive and liquid financial markets that will provide greater funding opportunities for SMEs. The information presented in this report is further evidence of the continuing success of this strategy and of the Government’s support for high growth and export focused Irish businesses” Minister Martin said..

According to Feargal Ó Móráin Executive Director of Enterprise Ireland, “over 78 per cent of the cumulative investments by value to December 2005 were in the software and life sciences sectors. The development of companies in these sectors is a key objective in Enterprise Ireland’s Strategy – Transforming Irish Industry”.

Highlights to the end of 2005 were as follows: 

  • The total sum invested by Enterprise Ireland Partnership Funds in 2005 was €50m
  • 98 investments were completed in total in 2005
  • The total monies invested since 2001 by the Partnership Funds totalled €183m
  • Since the establishment of the Scheme 83 per cent of total capital invested was directed at start-up companies
  • 17.73 per cent and 61.06 percent of the cumulative investments by value to December 2005 were in the life sciences and software sectors respectively
  • 16.25 per cent of the cumulative investments by value to December 2005 were in the communications sector
  • Companies in the regions (outside of Dublin city and county) accounted for 35.2 per cent of the total invested cumulative to 2005 (percentage by value)
  • 2005 saw the continuing trend of increases in the amount of Follow-on investments by venture capitalists

© Copyright 2007 by Finfacts.com

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