Global VC investment near record high as Irish activity jumps
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.