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Investment in venture capital up 224p.c. in Q3 Back  
Young innovative firms in Ireland attracted €29.77 million in venture capital in Q3 2007, according to the Quarterly European Venture Capital Report by Ernst & Young and Dow Jones VentureOne.

The most significant investment of Q3 2007 was made by Intune Networks, which completed a €14.77 million deal in August 2007. Intune Networks is a fibre optic equipment and photonics company based in Dublin.

Ireland ranked 10th in the number of deals, ahead of Belgium and behind Denmark, and eighth in terms of the amount raised behind Norway and ahead of Denmark. On a European scale, there was a 22 per cent increase over amounts invested during the Q3 last year, despite there being 28 fewer deals. The 210 deals completed during Q3 2007 was the lowest quarterly deal volume for Europe in at least six years.

The report also showed that Europe’s business/consumer /retail industry saw the most dramatic upswing with €214 million invested in 31 rounds during Q3 2007. That was more than four times the amount invested in the space over the same period last year and the industry’s highest quarterly total since the Q1 2002.

France experienced its third consecutive quarter with deal volume surpassing 55 rounds. In fact Q3 2007 saw 5 per cent more capital (€233 million compared to €222 million) flow into 26 per cent more deals in France than in the same period in 2006. The country is on pace to see its biggest year for venture capital investment since 2001.

The UK once again attracted the most deals in Europe; investments climbed 38 per cent over last year to €384 million, although it’s Q3 2007 volume of 62 rounds was down from the 73 raised in the same period last year.

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