TLDR:
– Irish VC investment rose 38% in Q2’24, with 24 deals closed worth $237.5 million.
– Global VC investment soared to $94.3 billion in Q2’24 fueled by mega-deals and a focus on AI.
Irish and European investors showed increased confidence in Q2’24 with VC activity picking up. The top four deals in Ireland accounted for three-quarters of all VC investment, including a $110 million raise by biotech SynOx Therapeutics. The global VC investment landscape saw significant growth, with total investment rising to $94.3 billion in Q2’24. While deal volume decreased, highlighting a longer-term trend of larger deal sizes. The surge in global VC investment is attributed to mega-deals and a focus on AI. As the year progresses, AI, energy, and cleantech are expected to remain hot areas for investment. Additionally, the introduction of the Digital Operational Resilience Act (DORA) in the EU is predicted to drive interest in regtechs focused on compliance. VC investment in Europe also saw an increase from Q1’24 to Q2’24, reaching $17.4 billion across 1,869 deals. Looking ahead to Q3’24, VC investment is expected to remain steady with AI continuing to attract funding.
