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December 13th, 2007

Tech firms raise 75m in Q3

Irish-owned technology companies raised 75.4m from investors in the four months to October 2007, according to the latest Irish Venture Capital Association (IVCA) Techpulse survey.
This was up substantially from the 53.9m raised in the same period last year.

"The fact that this growth occurred during a period when many venture capital (VC) firms were in the middle of raising new capital and exceeds the amount invested in the first six months suggests that there is a momentum building that augurs well for the future," commented Professor Michael Donnelly, chairman, IVCA.

Thirty other technology firms (including nanotechnology, fibre optics, photonics and semiconductor chips) servicing a wide range of industries, raised 58.2m in the four months to end October 2007. In 2006, eight companies raised 26.1m.


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