TLDR: Investment in tech firms rises to record £143m in 2023
Key Points:
- Investment into technology firms in Northern Ireland reached a record high of £143.2 million in 2023 across 72 deals.
- Many of the larger deals were follow-on investments from existing investors, with 35% of all deals in 2023 made into companies with female representation on the company executive team.
Investment in technology firms in Northern Ireland has reached a record high in 2023, with a total of £143.2 million invested across 72 deals. This marks an increase from the previous year, with an average investment of just under £2 million per deal.
The report from Catalyst also highlighted a notable rise in investment into companies with female leadership, as well as significant investments from funds such as SV Health Investors, Macen Capital Partners, and Guinness Ventures.
Despite a challenging economic backdrop, the growth in investment in Northern Ireland companies remains strong, with companies like Cumulus Neuroscience raising over £11 million to develop tools to address healthcare challenges in neuro-degeneration and psychiatry.
Kieran Dalton, head of scaling at Catalyst, noted the resilience of equity funding in Northern Ireland and the community of investors supporting local companies. Steve Orr, chief executive at Catalyst, highlighted the increased interest in Northern Ireland’s ecosystem and the potential for continued growth in the future.
Overall, the report showcases the strength and potential of the tech sector in Northern Ireland, with promising signs of growth and innovation in the years to come.
