KPMG has published its Venture Pulse second quarter 2018 report, tracking venture capital activity around the globe. The report found that, in the second quarter in Ireland, 14 companies raised $122.47 million between them, while Irish company Intercom raised an additional $125m.
The report produced by KPMG analyses the latest global trends in venture capital investment data and provides insights from both a global and regional perspective.
With the General Data Protection Regulation (GDPR) coming into effect in Europe within this reporting period, the report finds that while there may be negative short-term consequences, particularly for start-ups looking to manage the new compliance regime, the benefits of a strong data protection system could make European companies more attractive over the longer term as they become global leaders in how to manage private consumer and employee data.
To date in 2018, the amount raised by Irish companies (Republic of Ireland only) is over $500m, made up of $377.57 million across a number of companies plus the $125m Intercom deal. This is considerably higher than the same period last year, with an increase also in the number of deals year on year.
In the second quarter 2018, Intercom raised $125m and Sublimity Therapeutics, a Dublin based oral drug delivery company raised $64m. Phorest, a SaaS company that specialises in computer software for hairdressers, spas, and beauty salon owners raised over $23m and Neurent Medical, a Galway based medtech start-up which raised over $11 million.
Source: www.businessworld.ie
