Firms raise funding of €54m

A TOTAL of €54 million of venture capital funding was raised by Irish companies during the first quarter of this year, significantly bucking the international trend where spend in leading economies was down on a year-on-year basis.

The total actually represented a 24% like-for-like increase for the period and saw 32 technology companies raise funds.

Venture capital funding activity was down, in the quarter, in leading international markets such as the US and Britain.