VC funding for Irish firms fell last year despite global rise

Despite a surge in new deals in the final quarter, venture capital fundraising by Irish companies dropped 18% last year

Co Louth firm XOcean raised securing $118m (€114.5m) to boost its global growth.

Venture capital fundraising by Irish companies dropped 18% last year, despite a surge in new deals in the final quarter.

Data from KPMG shows total venture capital deals declined in 2024, as companies raised $627.75m (€609.1m) across 98 deals, down from the $764.06m (€741.3m) invested across 101 deals in 2023.