More money going to fewer firms as investors regain confidence

Four deals accounted for three quarters of all Irish venture capital investments in the three months to the end of June

XOCEAN, the ocean data company, raised $32.5m in a Series B funding round.

Investors became braver in the three months to June ahead of an expected interest rate reduction which may ease fears further, new figures suggested.

A Venture Pulse report by professional services firm KMPG showed venture capital investment rose in the second quarter, but more money was being pumped into fewer companies.