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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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