News Release

Irish tech firms present to global investors

Dublin, Friday, 29th October, 2010: Over 85 venture capital and other

investors from North America, Britain, mainland Europe and Asia have confirmed their attendance at Enterprise Ireland’s International Investor Forum in London on 2nd November 2010. These investors, along with representatives from the leading Irish VC firms, will receive presentations from and have meetings with 25 selected Irish Software and Life Sciences companies that are seeking funding for ambitious growth plans to increase exports and employment.

Peter Sandys Chairman of the Irish Venture Capital Association said, “The Irish venture capital industry has a key role to play in funding the new and growing export focussed Irish businesses that will lead us out of our current economic difficulties. At Enterprise Ireland’s London event we are telling our international VC colleagues that there are many attractive investment opportunities available in Irish companies at the present time and that the Irish VC industry is very much open for co-investment business with international VC partners.”

Over 150 formal meetings between the presenting Irish companies and international investors have been arranged. The primary purpose is to target new international investment to fund the significant growth plans of the 25 selected Irish companies. The new investment is being sought on the basis of syndicated investment between Irish and International VCs.

Niall O’Donnellan, Head of Enterprise Ireland’s Investment Services Division added, ”The major importance of syndicated investment by Irish and international VC’s in the growth of Enterprise Ireland client companies is not widely understood. Tor instance, in the past couple of years around 40 international VC investors from North America, Europe and have invested in Enterprise Ireland client companies. This investment has almost always been on the basis of syndicated investment with an Irish VC firm. Maintaining a continuing strong flow of international investment to fund the development of Irish growth companies is a most important objective of Enterprise Ireland.”

Ends

For press queries, interview or photo please contact:

Regina Breheny, Director General, IVCA, Tel: 087 0517754 or

Kerri Crowley, Simpson Financial & Technology PR, Tel 01-260 5300

Email:

About IVCA

The Irish Venture Capital Association is the representative organisation for venture capital firms in Ireland. Irish VCs currently have €1.4 billion under management and have access to an additional €800m for investment in start-ups and scaling opportunities.