Venture capital investment in Ireland down 17% with fintech hit hard

According to the reports, the slowdown is down to increasing interest rates, high inflation, and geopolitical issues such as the protracted war in Ukraine

Between April and June, 33 venture capital deals were closed in Ireland worth a combined $172.5m (€158.4m) — which is down 17% from $207m across 44 deals during the same period in 2022.

Venture capital investments in Ireland have fallen by 17% compared to last year with fintech being hit particularly hard, two new reports from accounting firm KPMG show.

According to the reports, the slowdown in investment in Ireland has been impacted by increasing interest rates, high inflation, and geopolitical issues such as the protracted war in Ukraine. It is a trend that is being seen across the world.