Venture capital funding to Irish SMEs plummets on international pullback

The quarterly result was largely explained by an 81% pullback by international investors

The life sciences sector with €255.3m (40%) led the way in funding for the half year.

Venture capital funding into Irish SMEs in the second quarter fell to its lowest level in ten years, according to a survey from the Irish Venture Capital Association (IVCA). 

The results show funding plummeted to €112.6m, from €494m in the same quarter last year. This is the lowest figure the IVCA has recorded since the second quarter of 2015.