Northern Ireland technology companies raised a record £139m in 89 deals from venture capital firms in 2022, bucking the trend of investment levels falling across the UK as a whole.
It marks a 29% increase on the year prior, in which investors deployed £107m across 68 deals and three times 2019’s total of £44.3m. Across the whole UK, tech investment dropped by 22% last year.
“In light of a fall in venture capital investment in the UK market overall, the increase in venture capital investment into Northern Ireland companies is very welcome,” said Kieran Dalton, head of scaling at Catalyst.
“When we analyse the underlying data, we can see the cause of this increase has been the emergence of a cluster of growth companies which are redefining the aspirations for innovation companies within NI.”...