Sharp decline in early-stage Irish start-up funding deals in 2020
Gillian Buckley, chair of the IVCA. Image: IVCA
New figures from the Irish Venture Capital Association show that investors put money in safer bets during the pandemic.
Venture capital funding in early-stage start-ups in Ireland fell by almost a third in 2020 as the pandemic downturn took its toll on deal making.
While overall funding figures are up – with €925m invested in Irish SMEs last year compared to €820m the year prior – investments in early-stage start-ups dropped 32pc, from €285m to €194m. That’s according to the new figures from the Irish Venture Capital Association (IVCA), which deems an early-stage start-up deal to be €5m or less.