Venture capital funding in Irish SMEs hits record €1.48bn

But report warns of 'choppy' environment for firms raising less than €5m

Sarah-Jane Larkin, director general, and Gerry Maguire, chairperson, Irish Venture Capital Association. Ms Larkin said the Government’s €250m Seed & Venture Capital Scheme 2025-2029 'couldn’t come at a better time'.

Funds invested into Irish technology SMEs jumped 9% to a record €1.48bn in 2024, according to a report by the Irish Venture Capital Association (IVCA). The IVCA reported a record fourth quarter investment in 2024 of €535m, 162% up on the same period the previous year.

“Growth in the year and final quarter was driven by big investments which demonstrates that Ireland has the capacity to create and scale world class tech firms,’ said IVCA chair Gerry Maguire.