Thursday 22 August 2019

Enterprise Ireland ranked among top three VCs in the world

EI’s Kevin Sherry pictured with Jobs Minister Richard Bruton
EI’s Kevin Sherry pictured with Jobs Minister Richard Bruton

Michael Cogley

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

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

An 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 San Francisco-based SV Angel, ranked first, and Parisian venture capital fund Kima Ventures. SV Angel took the top spot with 232 seed stage investments since 2010 while Kima Ventures came in second with 198.

Meanwhile in third place Enterprise Ireland had made 196 seed stage investments, ahead of Andreessen Horowitz with 134 and Google Ventures with 131.

Since 2010, 2,387 venture capital investors have participated in at least one seed round globally according to PitchBook. The number of deals being done 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PitchBook says that the pace at which these deals are being completed has slowed this year but that the value has superseded the value of deals done at this stage last year.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).

In an earlier report PitchBook analysed Dublin's venture capital activity. It found that activity in the capital plummeted in the years following the crash but have grown since 2010.

Irish Independent

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