Irish tech start-ups and SMEs raise record €1.3bn venture capital

VC investment into Irish tech start-ups and SMEs rose 44 per cent in 2021 from the previous year, a VenturePulse survey finds

Sarah-Jane Larkin, director general, Irish Venture Capital Association: ‘The 20 per cent increase in number and 44 per cent rise in value shows that Irish tech SMEs are raising larger rounds.’ Picture: Diane Cusack Photography

Venture capital investment into Irish tech start-ups and SMEs reached a record €1.3 billion in 2021, up 44 per cent from €925 million the previous year, according to the Irish Venture Capital Association (IVCA)’s VenturePulse survey.

This included a record fourth quarter in which funding more than trebled to €458 million from €139 million.

“The indigenous tech start-up and SME sector appears to be well positioned to benefit from and contribute to a strong post-pandemic ...