Just a quarter of venture capital investment goes to start-ups outside Leinster

Dr Sally Cudmore, director of innovation at University College Cork said it has seldom been harder for Irish SMEs to raise early-stage funding

(Left to right) At the Irish Venture Capital Association Munster enterprise policy lab in the Clayton Hotel, Cork City on Friday were Denise Sidhu, chairperson IVCA and Simon Coveney, Minister for Enterprise, Trade & Employment. Picture: Diane Cusack

Just 26% of venture capital investment goes to small firms and start-ups outside Leinster, an investment event in Cork heard.

The Irish Venture Capital Association (IVCA) held its Munster enterprise policy lab in the city on Friday. Addressing the event, Denise Sidhu, chairperson, IVCA and partner of Cork-headquartered Kernel Capital, pointed out that venture capital investment outside Leinster amounted to 26% of the total in 2022 or €340m. Munster accounted for 7% of the total last year or €95m.