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€250m for new firms under Enterprise Ireland's Seed and VC Fund | Print |  Email
Wednesday, 25 July 2007

Enterprise Ireland's Seed and Venture Capital Report for 2006 shows that new and developing companies received €250m in finance from investors backed by State agency Enterprise Ireland. The sectoral breakdown for the 2001-2006 Venture Capital Programme shows that 55%, or €137.5m, was invested in software firms; 16%, or €40m, in life sciences; 24%, or €50m, in communications businesses and 5%, or €12.5m, in the food, manufacturing and other sectors.

Welcoming the report Minister for Enterprise, Trade and Employment Micheál Martin said: "The sector provides a vital source of funding for early stage and growing Irish companies. Over the coming months we can look forward to the establishment of several new Funds under Enterprise Ireland's €175m Seed and Venture Capital Programme 2007-2012."

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