Maurice Roche, partner in Delta Partners, has been elected chairman of the Irish Venture Capital Association (IVCA). He succeeds Peter Sandys, managing partner and co-founder of Seroba Kernel Life Sciences.
The Irish Venture Capital Association is the representative organisation for venture capital firms in Ireland.
In the last 10 years, Irish VCs have invested €1.5bn into Irish SMEs and have leveraged in an additional €1.5bn from international VCs through syndicated deals.
Research released earlier this year showed that employment in Irish venture capital-backed firms has grown at an annual rate of 18.6pc since 2003 at a time when jobs growth in the economy in general was zero.
The UCD report found that Irish VCs invest more in technology and knowledge-based firms than the rest of Europe. High-tech companies accounted for 92pc of all investment by Irish venture capitalists in both 2008 and 2009.
This is the highest technology rating in Europe, where the average is 31pc, with only four countries investing greater than 50pc in technology companies. Since 2004, IVCA members have backed 139 new companies, 77pc of which were in the early stage, high-tech sector.