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Up to 50pc of Irish venture capital funding under threat due to Covid-19

Venture capital slump could wipe out 'generation of future Irish unicorns'

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IVCA director general Sarah-Jane Larkin. Photo: Fennell Photography

IVCA director general Sarah-Jane Larkin. Photo: Fennell Photography

Colm Mahady / Fennells

IVCA director general Sarah-Jane Larkin. Photo: Fennell Photography

Investment activity in Ireland could reduce by up to 50pc depending on how long the Covid-19 pandemic lasts, according to a survey carried out by the Irish Venture Capital Association (IVCA).

The survey was carried out among IVCA members to gauge the anticipated impact of the virus on future investment strategy. Members include SOSV, which has over $700m (€640m) worth of assets under management, and Delta Partners, which has €250m under management.

According to Sarah-Jane Larkin, director general of the IVCA, respondents indicated that investment activity could reduce by 20pc under the current lockdown measures until May, but may worsen if the rules continue into September.