Drop in numbers of Irish firms getting venture capital

IRISH companies seeking venture capital funding felt the pinch in the third quarter of the year as the amount raised fell by €5 million to almost €71m.

The number of firms that managed to raise funds also dropped to 16 compared to 43 in the same period in last year.

According to a report from the Irish Venture Capital Association (IVCA) total funds raised so far this year have increases 23% to €174m compared with last year.