Enterprise Ireland has published its Seed and Venture Capital Programme Report 2011 today and finds that €60m was invested by Irish venture capital firms supported by the organisation.
The report shows that the firms made 131 investments in 93 companies - a 43% increase on the value of investments in 2010.
Minister for Jobs, Enterprise and Innovation Richard Bruton welcomed the report saying venture capital funds provide crucial funding, advice and networks.
"They are an essential element of the innovation system and mean that more high growth companies can receive the funding and backing they require to go out and achieve strong exporting results, creating jobs in Ireland," he added.
In a statement, Enterprise Ireland highlighted the continuing increase in seed funding being made available to meet the urgent need for capital for entrepreneurs and early stage start ups.
Niall O'Donnellan, Enterprise Ireland's Head of Investment Services said "access to capital from all sources played an important part in the strong performance by Irish exporting companies in 2011."
A highlight of the year for the organisation was the continuing increase in seed funding being made available to meet the urgent need for capital for entrepreneurs and early stage start ups.
During the year, there was an increase of €27m in seed capital funding available to Irish companies with the launch of the new €22m AIB Accelerator Fund and the €5m increase in funding of Bank of Ireland Seed and Early Stage Equity Fund 2009.
