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The funding compares with the €83.7m raised in the same period in 2006. Regina Breheny, Director General, IVCA, said the number of Irish companies raising funds has increased from 19 in the first-half of 2006 to 31 this year. Amounts raised vary between €200,000 and €8m. "Despite the overall reduction in deal value, the year to date has seen a highly active VC market with a wide variety of tech sectors being supported," she said. The biggest growth has been in the drug delivery and medical devices market where nine firms raised €17.4m, compared with zero raised last year. In the telecoms sector five companies raised €16.4m compared with six telcos raising €21.1m in 2006. Apart from these, 17 other technology firms, including nano technology firms, raised €28.8m. Funds were supplied by 12 Irish VC companies and 13 international firms. This compares with nine Irish and 13 international in 2006. In 2006, €192 million was invested in venture capital compared with €8 billion in overseas commercial property. © Copyright 2007 by Finfacts.com |
