Global VC in­vest­ment near record high as Ir­ish ac­tiv­ity jumps

The Irish Times - Business - - BUSINESS NEWS - CHAR­LIE TAY­LOR

Global ven­ture cap­i­tal (VC) in­vest­ment was just shy of a record in the first three months of the year with ac­tiv­ity in Ire­land par­tic­u­larly strong, ac­cord­ing to new fig­ures.

Over­all, $49.3 bil­lion (€39.8 bil­lion) in in­vest­ment was raised across 2,661 deals world­wide dur­ing the first quar­ter, ac­cord­ing to KPMG’s Ven­ture Pulse report, with five $1 bil­lion plus deals recorded.

A record-break­ing $29.4 bil­lion of in­vest­ment in the Amer­i­cas, of which $28.2 bil­lion was in the US alone, com­bined with strong ac­tiv­ity across Asia helped fuel the strong VC mar­ket.

Europe recorded $5.2 bil­lion in VC in­vest­ment in the first quar­ter. While this was down ver­sus the pre­vi­ous three months it was still the fourth high­est amount on record.

Strong ac­tiv­ity out­side Bri­tain kept Euro­pean VC in­vest­ment high with Ire­land record­ing ro­bust quar­terover-quar­ter growth to $162 mil­lion.

Dublin-based medtech firm Foundry In­no­va­tion & Re­search 1 (Fire1) was among those to se­cure fi­nanc­ing dur­ing the quar­ter. It raised €40 mil­lion in fund­ing in Jan­uary to de­velop its re­mote heart mon­i­tor­ing prod­uct.

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