The Enterprise Ireland Seed & Venture Capital Programme 2013 Report published by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, shows a continued upward trend in the level and value of activity in venture capital funds supported under Enterprise Ireland Seed and Venture Capital Programmes.

In 2013 these Funds made 153 investments with an investment value of €59 million in 94 Irish-based companies, representing a significant increase on the €54million invested in 84 Irish companies in 2012 under the schemes.

The capital under management through Enterprise Ireland’s Seed and Venture Capital Programme 2007-2012 has now reached close to €700 million. Cumulatively over the lifetime of this scheme 50% has been invested in the software sector and 35% in the life sciences sector. A separate analysis shows that Irish companies in receipt of investment under this Programme are employing over 2100 people in Ireland. A number of the Funds under the scheme are still investing in start-up and scaling companies.

Enterprise Ireland partners with the venture capital sector in a wide number of programmes and initiatives aimed at improving access to finance for small and medium sized enterprises and to further develop the seed and venture capital industry in Ireland. This industry plays a vital role in supporting innovative companies to grow, expand internationally and create jobs. The strong level of activity in 2013, and continued in the first half of 2014, confirms the readiness and commitment across the sector to bring an increase in venture capital funding being made available to meet the urgent need for capital.

The report is available at: www.enterprise-ireland.com/svc2013