New chair appointed for Irish Venture Capital Association

  • Leo Hamill, managing partner of Investec Ventures Ireland has been elected chairperson of the Irish Venture Capital Association.

    The Irish Venture Capital Association is the representative organisation for venture capital and private equity firms in Ireland. Last year venture capital investment into Irish tech start-ups and SMEs reached a record €1.3 billion, up 44% from €925m the previous year.

    Despite taking office following significant falls in the value of global tech stocks and mounting international uncertainties, Mr Hamill says he remains optimistic about the prospects for Irish start-ups looking to raise funding over the next few years. “Good Irish companies, especially in the tech sector, will always be able to raise funds. A number of Irish venture capital managers have recently completed funding rounds themselves, while the Government’s timely €90m Irish innovation seed fund should start to come on stream later in the year.”

    RELATED: Venture capital funding into Irish SMEs increase by 19%

    Investec Ventures is an investment firm that seeks to invest in companies operating in the information technology, communication technology, digital media, e-commerce, business support service, healthcare equipment, clean technology, renewable energy and service sectors.

    Mr Hamill has 20 years’ SME experience in the ICT sector, working for 17 years in the venture capital industry and is a non-executive director of higher education tech firm TerminalFour Solutions, software company Rainmaker Business Technologies and IoT platform Davra.

    RELATED: Irish tech companies raise record venture capital funding of €392m in second quarter

    Commenting on his election as chairperson of the IVCA Mr Hamill said, “In view of global uncertainties and the transient nature of both Foreign Direct Investment and international venture capital, it is more vital than ever that we continue to put the blocks in place to build a vibrant domestic infrastructure of high potential knowledge based companies.”

    An independent DCU report released in January 2020 found that Irish venture capital and private equity firms have invested €5bn in Irish SMEs since 2003 and, through syndication, have attracted in a further €3bn in funding from international firms.

    Source: written from a press release

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