Calls to invest more in tech firms

Irish venture capitalists could leverage as much as €1.5bn in order to help indigenous technology firms become serious global players in the coming years.

Speaking at the Irish Venture Capital Association annual dinner in Dublin last night, chairman John Flynn said venture capitalists face a critical need to raise €750m to help tech firms upscale and that those funds could be leveraged to a total twice that value.

This level of funding is envisaged over a five-year investment cycle, according to a spokesperson.