Business

Moderation in tech firm valuations ‘timely’ – Enterprise Ireland chief

Leo Clancy remains ‘concerned’ at effect of slowdown on willingness of venture capital firms to continue to invest

Leo Clancy, chief executive, Enterprise Ireland: ‘There definitely is a lot of caution out there in terms of deploying money.’ Picture: Fergal Phillips

The recent moderation in the valuations of companies in the tech sector is “probably a good thing”, the head of Enterprise Ireland has said.

“There was a lot of exuberance out there in the tech market,” Leo Clancy told the Business Post after the state agency reported record export numbers for 2022.

“As someone who lived through the dot-com bubble and the subsequent issues, I think that these things deflate. Even though there’s pain on ...