€54 million invested in 84 Irish based companies by Irish venture capital firms supported by Enterprise Ireland in 2012
In 2012 these Funds made 135 investments with an investment value of €54 million in Irish-based companies, representing an increase of €11 million (26%) on the amount invested in 2011.
Overall, Irish venture capital firms supported by Enterprise Ireland made 159 investments in 105 companies with a value of €81 million in 2012.
The total funds under management by seed and venture funds under Enterprise Ireland’s Seed & Venture Capital Programmes reached €636 million by end 2012.
The venture capital sector plays a vital role in supporting innovative companies to grow, expand internationally and create jobs. A strong feature of the past 18 months has been the continuing increase in venture capital funding being made available to meet the urgent need for capital.
2012 saw the launch of the €150 million Development Capital Fund to assist in closing the ‘equity gap’ experienced by established SMEs seeking development capital in excess of €2 million.
The drive to bring additional capacity to the market continued with a €20 million call for expressions of interest under the 3rd Programme of the Seed and Venture Capital Programme and we expect to make announcements on this in Q3 2013. This is targeted to drive the total funds under management to €690m by the end of 2013.
In May of this year the new €175 million Seed and Venture Capital Programme 2013-2018 was launched, aimed at leveraging a total of €700million to provide additional funding for high-growth Irish companies with the potential to generate significant additional exports and grow jobs. The first call for expressions of interest has been announced and will see Enterprise Ireland committing up to €100 million to venture capital funds targeting investment in the wider information and communications technologies and life sciences sectors.
Other Government finance schemes for business put in place over the past two years include:
€850million through three SME funds from the NPRF
€450million credit guarantee scheme
€90million micro-finance scheme
€10million international start-up fund
€120million second call under Innovation Fund Ireland
Over the past 19 years the Government, through Enterprise Ireland, has committed approximately €320 million, as a limited partner, to 40 seed and venture capital funds (with a total size of €1.2 billion) that have been set-up in Ireland. This includes investing in ten VC funds under the 2007-2012 Seed & Venture Capital Programme.
The Seed & Venture Capital Programme Report 2012 is available on the Enterprise Ireland website Here