Business

Friday 2 December 2016

Enterprise Ireland ranked third best venture capital fund in world for seed investment

Published 26/11/2015 | 12:00

Enterprise Ireland CEO Julie Sinnamon
Enterprise Ireland CEO Julie Sinnamon

Enterprise Ireland (EI) has been ranked third in the world for seed investment by international investment platform, PitchBook.

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Investors are ranked by the number of seed rounds since 2010.

Executive director at Enterprise Ireland, Kevin Sherry, said that getting funding for start-up companies is a crucial function of EI.

“A key focus for Enterprise Ireland is providing seed capital to start-up companies and we are delighted to have been ranked third among top venture capital investors worldwide including SV Angel, Kima Ventures, Andreessen Horowitz and Google Ventures.

“This reiterates the important role that seed funding, and Enterprise Ireland, plays in providing essential finance to early stage companies as they begin their path to growth,” Mr Sherry said.

Enterprise Ireland was behind only San Francisco-based SV Angel, which was ranked first, and second-placed Parisian venture capital fund Kima Ventures.

Since 2010, 2,387 venture capital investors have participated in at least one seed round globally according to PitchBook.

The number of deals being made by venture capital funds has risen year on year since 2010 jumping from 484 five years ago to 1,943 last year.

PitchBook says that the pace at which these deals are being completed has slowed this year but that the value has superseded the value of deals made at this stage last year.

Venture capital funds have already put $1.97bn (€1.85bn) into seed investments this year, surpassing 2014’s total of $1.95bn (€1.84bn).

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