Twenty-five Irish technology firms will next week meet with representatives of more than 85 venture capitalists and other investors from the US, UK, Europe and Asia at the Enterprise Ireland International Investor Forum in London.
Next Tuesday (2 November) the 25 technology and life sciences companies will seek funding via at least 150 formal meetings with investors.
The primary objective is to target new international investment to fund growth plans. The investment is being sought on the basis of syndicated investment between Irish and international venture capitalists.
“The major importance of syndicated investment by Irish and international VCs in the growth of Enterprise Ireland client companies is not widely understood,” explained Niall O’Donnellan, head of Enterprise Ireland’s Investment Services Division.
“For instance, in the past couple of years, around 40 international VC investors from North America and Europe have invested in Enterprise Ireland client companies. This investment has almost always been on the basis of syndicated investment with an Irish VC firm.
“Maintaining a continuing strong flow of international investment to fund the development of Irish growth companies is a most important objective of Enterprise Ireland,” O’Donnellan said.
Irish venture capitalists themselves believe they will play a key role in returning Ireland to sustainable growth, the head of the body representing venture capitalists in Ireland said.
“The Irish venture capital industry has a key role to play in funding the new and growing export-focused Irish businesses that will lead us out of our current economic difficulties,” Peter Sandys, chairman of the Irish Venture Capital Association, said.
“At Enterprise Ireland’s London event we are telling our international venture capital (VC) colleagues that there are many attractive investment opportunities available in Irish companies at the present time and that the Irish VC industry is very much open for co-investment business with international VC partners,” Sandys added.