Three companies received over $100 million in funding each
Irish companies secured the highest level of venture capital investment on record in the second quarter of this year, according to the latest Venture Pulse report by KPMG.
The second quarter set a new record high for investment levels, following previous highs of $517 million in the second quarter of 2018 and $515.5 million in the second quarter of 2019.
Three companies received over $100 million in funding each, which helped to raise the overall investment levels.
‘Lets Get Checked’ raised $150 million, TecgMet raised $120 million and GH Research raised $125 million.
The figures show that Irish health and biotech companies were of particular interest to investors, as were software and technology companies.
According to KPMG, earlier stage companies from a number of sectors in Ireland also secured modest investment in the period – but the big investments continue to go to the more established companies, which is a trend that we’ve been seeing for quite some time.
The lift in Irish VC investment was also echoed globally, where over $157 billion was raised across nearly 8,000 deals.
The increase in activity is credited to a robust IPO market, high valuations, and a seemingly endless supply of dry powder, according to the report.