Ireland Venture Capital: Top Startups and VC Funds

Ireland has risen through the EU ranks in the last 30 years to become one of Europe’s most exciting startup hubs. 

With a booming tech scene, strong government support and investors eager to fund the next big thing, it’s no surprise that global entrepreneurs are setting up shop here. 

Ireland’s startup ecosystem is thriving and venture capital is flowing, so whether you’re a founder looking for funding or an investor hunting for the next unicorn, Ireland offers a wealth of opportunities. 

But taking advantage of Ireland’s potential as a startup location will take careful planning, so getting the right advice from the start can save you lots of time, effort and money. 

At Nomad Capitalist, we’ve helped over 2,000 clients acquire a second residency or citizenship in jurisdictions that best suit their personal and entrepreneurial lifestyles. We can help you, too.

So, you can remove all the guesswork, skip past the gatekeepers and speed up the entire process by reaching out and letting us help you go where you’re treated best’.

As part of the process, the Nomad Capitalist team has put together a complete in-depth guide on everything you need to know about entering Ireland’s startup ecosystem.

Benefits of Raising Venture Capital in Ireland

Dublin consistently ranks in the top emerging startup ecosystems in the world. Clearly, there’s a lot of exciting startup activity in Ireland, and here are some of the main reasons why.

Access to a Thriving Market

The Emerald Isle is home to a highly skilled workforce and a young and increasingly tech-savvy population, making it ideal for innovation and entrepreneurship. 

Economic growth has been steady, with rising consumer demand and the adoption of new technologies creating opportunities in sectors like tech, life sciences and renewable energy. 

Being a member of the European Union also gives Irish-based businesses access to a massive market of over 400 million consumers, a major advantage for companies with international ambitions.

It’s worth mentioning that Ireland is also one of only two native English-speaking countries in the EU post-Brexit, which has also made it a strategic destination for businesses wanting European market access. 

As a result, more companies and investors have chosen it as their base of operations.

A Strong Startup and Innovation Ecosystem

Well known for encouraging innovation, Ireland boasts a powerful network of accelerators, incubators and co-working spaces. 

These hubs not only provide resources but also connect entrepreneurs with mentors and investors. 

Local success stories, such as Intercom and Stripe, have inspired many other Irish founders and proven that there’s a clear runway for global success here. 

Government Support and Incentives

The Irish government is a champion of startups, offering extensive support to help businesses grow. 

Enterprise Ireland provides grants, mentoring and market access programs specifically designed for high-potential startups. 

The R&D Tax Credit allows businesses to claim back 25% of their eligible research and development costs – even as a cash refund for early-stage companies. 

Programs like the Employment Investment Incentive Scheme (EII) and the Start-up Entrepreneur Programme (STEP) offer tax relief and immigration opportunities for entrepreneurs, making it easier to attract the best global talent and investment.

To put it simply, Ireland is open for business and the government is actively looking to grow its pool of entrepreneurs.

Favourable Tax Environment

Ireland’s low corporate tax rate of 12.5% is a huge draw for both startups and investors. 

The country’s tax system is designed to reward innovation. It offers accelerated depreciation on energy-efficient equipment and favourable intellectual property tax rates. 

Add to this an extensive network of double-taxation treaties, and you have a setup that minimises barriers to international business and investment.

The Irish government sees the value that startups bring to the country, so it’s rolled out the red carpet for entrepreneurs. No wonder companies like Meta, Alphabet, Apple, IBM, Intel, Oracle and Microsoft have chosen Ireland as a base for their European operations.

Attracting International Investors

Ireland has become a magnet for venture capital firms from around the world. 

Its reputation as a tech and innovation hub, combined with its strategic location as a gateway to Europe, has drawn plenty of international interest. 

Venture capitalists are particularly attracted to Ireland’s deep talent pool and the increasing number of startups geared toward global markets. 

With major success stories like Stripe emerging from Ireland, investors have good reason to be drawn to the Emerald Isle.

A Collaborative Funding Ecosystem

Venture capital is just one part of the funding landscape in Ireland. The country’s startup ecosystem also includes angel investors, crowdfunding platforms and government-backed seed funds. 

Programs like Furthr’s accelerators and Enterprise Ireland’s funding initiatives offer a perfectly structured pathway for startups to secure early-stage and growth capital. 

This mix of private and public funding means startups have plenty of options for raising the capital they need.

Getting Residence and Citizenship in Ireland

Ireland offers clear, structured pathways for those who want residency in the pro-business country and possibly a Tier A passport. And as an entrepreneur or investor, there are a couple of residency options that could perfectly match your lifestyle.

Entrepreneurs with innovative business ideas can take advantage of the Entrepreneur Programme, which grants temporary residency that can lead to long-term options if the business thrives. 

After five years of legal residency on Stamp 1 or Stamp 4 permits, you can apply for permanent residency or naturalisation. 

Citizenship by naturalisation is also possible after five years of residence, with one year of continuous stay right before applying. Compared to other naturalisation pathways in Europe, this is one of the most efficient options available.

Read our detailed guide on getting Irish citizenship for more information and options.

Venture Capital Ireland: 20 Top Funds

Ireland is one of the hottest European countries for startups, so it should come as no surprise that many top venture capital funds are active there. Here are some of the best options:

Sure Valley Ventures

• Founded: 2017
• Focus: Seed, Series A
• Sectors: AI
• Key Investments: Everyangle, Precog, Ambisense, Admix

Sure Valley Ventures supports early-stage AI software firms that aim to revolutionise industries. It leverages its expertise and global network to help startups scale. Passionate about the latest in AI, Sure Valley Ventures provides hands-on support to entrepreneurs who are driving innovation.

Middlegame Ventures

• Founded: 2017
• Focus: Seed, Series A
• Sectors: Fintech
• Key Investments: Inferex, Nofrixion, Finoa, Carta, & Open, Circit

Middlegame Ventures specialises in transforming the financial services sector. With over €300 million invested in 40 companies in 10 countries, it focuses on core technologies like blockchain, open finance and embedded ESG that are redefining finance. 

ARCH Venture Partners

• Founded: 1986
• Focus: Series A, Series B, Series C
• Sectors: Life sciences
• Key Investments: Juno Therapeutics, Lyell, Bluebirdbio, Illumina, Receptos

ARCH Venture Partners accelerates medical innovation by funding companies that tackle some of the biggest challenges in life sciences. They have a strong track record of investing in groundbreaking scientific ventures, providing the resources needed to transform research into action.

Zoosh Group

• Founded: 2014
• Focus: Seed, Series A
• Sectors: Technology
• Key Investments: OptaHaul, Rove, Idaso, Xtract, TixService

Zoosh Group merges venture capital and product studio capabilities to help grow cloud technology startups. Their unique model includes investment and hands-on support in areas like commercialisation and growth strategy. With a focus on creating long-term value, Zoosh acts as both a mentor and partner to ambitious founders.

Lightstone Ventures

• Founded: 2012
• Focus: Series A, Series B, Series C
• Sectors: Biotech, Medtech
• Key Investments: Apreo Health, Cala Health, Earlens, FlexPharma, Powervision

Lightstone Ventures is focused on funding innovative biotech and medtech startups. With an impressive portfolio of IPOs and acquisitions, they’re at the forefront of integrating scientific breakthroughs into impactful healthcare solutions.

Elkstone Partners

• Founded: 2011
• Focus: Seed, Series A
• Sectors: Sector agnostic
• Key Investments: Flipdish, Protex AI, SoapBox, Robotify, Garentii

Elkstone Partners is Ireland’s largest seed-stage venture fund, with a genuine commitment to nurturing startups through their early stages. Its extensive network and expertise allow it to provide valuable support to entrepreneurs as they navigate growth and scale.

DC Ventures

• Founded: 2012
• Focus: Pre-Seed, Seed, Series A
• Sectors: Fintech, e-commerce, online media, experience economy, IoT
• Key Investments: Peimento, Walden, Parra Payments, RLL Esports, Culhanimal Productions

DC Ventures combines investment capital with tailored advisory services to help early-stage startups succeed. The experienced team provides coaching in important areas so that companies have the tools they need to secure funding and achieve sustainable growth.

Heritage Ventures

• Founded: 2016
• Focus: Series A, Series B, Series C
• Sectors: IT and tech
• Key Investments: TauRx, Cuentas, Mexedia, Reload

Heritage Ventures empowers startups during their growth phases and assists established businesses with expansion funding. Their tech-centric approach allows them to partner with firms looking to create scalable, global solutions in the tech space.

Act Venture Capital

• Founded: 1994
• Focus: Series A, Series B, Series C
• Sectors: AI, cloud, IoT, deep tech, e-commerce, health, fintech, gaming
• Key Investments: Conjura, Playter Pay, Spectrum.Life, Arralis, DecaWave, Kymata

Act Venture Capital has a solid track record of partnering with visionary founders to build transformative companies. With over €600 million raised and a strong portfolio of exits, it provides a combination of capital and expertise to help startups thrive from the earliest stages.

COSIMO Ventures

• Founded: 2014
• Focus: Seed, Series A, Series B
• Sectors: Deep tech
• Key investments: CasperLabs, Defactor, Kibo, Shyft, Wombat

COSIMO Ventures invests in disruptive technologies and deep tech innovations that are reshaping industries. With a pioneering spirit and a team responsible for 40 patents, they invest in and support startups aiming to make a lasting global impact.

Frontline Ventures

• Founded: 2012
• Focus: Pre-Seed, Seed, Series A, Series B
• Sectors: B2B SaaS
• Key Investments: Vanta, Lattice, Signal AI, Humaans, Navan

Frontline Ventures bridges the Atlantic by supporting B2B SaaS startups with global ambitions. With two funds, Frontline Seed targets European founders looking to expand to the US, while Frontline Growth focuses on US-based startups after European growth. 

Business Venture Partners (BVP)

• Founded: 2004
• Focus: Series A, Series B, Series C
• Sectors: Renewable energy, energy efficiency, mobility, agritech
• Key Investments: Pharmafilter, Wellola, Versono, Health Beacon

BVP stands out by aligning its investments with Ireland’s national development objectives. It focuses on ventures that create societal, environmental, and economic value. Using its deep industry knowledge, BVP supports startups in scaling internationally.

Molten Ventures

• Founded: 2006
• Focus: Seed, Series A
• Sectors: Technology
• Key Investments: Ledger, Vaultree, Worldr, CoachHub

Molten Ventures backs Europe’s next digital giants, investing in deep tech, consumer tech, health tech and enterprise software. They prioritise startups solving complex technological problems with transformative, global potential. 

Furthr VC

• Founded: 1990
• Focus: Series A, Series B
• Sectors: B2B software, medical devices
• Key Investments: TrustAP, VideoElephant, Nofrixion, Spire, Grid Beyond

Based in Dublin, Furthr VC has played a major role in developing Ireland’s startup ecosystem. They take a hands-on approach, providing funding, mentorship and strategic advice to startups across the tech and healthcare industries.

Seroba Life Sciences

• Founded: 2009
• Focus: Series A, Series B, Series C
• Sectors: Life sciences
• Key Investments: Deciphex, Sibylla, Perfuze, Coave Therapeutics, Palliare

Seroba Life Sciences focuses on funding life-changing biotech and medtech innovations. By taking board seats and working closely with founders, they guide startups from inception to commercial success. 

Its mission is to address unmet medical needs through breakthrough solutions.

Delta Partners

• Founded: 1994
• Focus: Seed
• Sectors: IT, communications, healthcare
• Key Investments: Gigable, Offr, FoodMarble, CleverCards, GoContractor

Delta Partners supports entrepreneurs through the crucial early stages of startup growth. With an emphasis on building solid company foundations, they help founders optimise resources and overcome challenges for long-term sustainability and success.

VentureWave Capital

• Founded: 2008
• Focus: Series A, Series B, Series C
• Sectors: Social impact
• Key Investments: XOCEAN, WebDoctor, PepTalk, MediHive, DropChef

VentureWave Capital combines profit with purpose by focusing on social impact investments. Their portfolio spans cloud-based solutions in agri-food, health, cleantech and education. They align their efforts with the United Nations’ Sustainable Development Goals to create meaningful change.

Yield Lab Europe

• Founded: 2014
• Focus: Seed, Series A, Series B, Series C
• Sectors: AgriFoodTech
• Key Investments: ApisProtect, AuraVant, CarbonSpace, Botalys

Yield Lab Europe is a major funder of sustainable agriculture and food system innovation. As early-stage investors, they provide funding and access to a global network of experts and corporations, helping startups scale and tackle global food security challenges.

Allegion Ventures

• Founded: 2003
• Focus: Series A, Series B
• Sectors: Construction tech, IoT, property management
• Key Investments: Kasa, Latchel, Mapped, Mint House, Robin, Openpath

Allegion Ventures uses innovative technology to bridge physical and digital security. They support startups in creating seamless user experiences, focusing on IoT, building analytics, and managing properties to shape the future of secure spaces.

Enterprise Equity

• Founded: 1987
• Focus: Seed, Series A, Series B, Series C
• Sectors: Sector agnostic
• Key Investments: Capsos Medical, EpiSensor, Touch Press, Polecat, Duolog

Enterprise Equity backs startups looking towards international expansion. With a medium-to-long-term horizon, they provide capital and strategic guidance for scaling businesses. 

Emerging Trends in Ireland’s Startup Ecosystem

Ireland’s startup ecosystem is experiencing significant growth right now – particularly in its tech sector. 

A whopping €847 million of funding went into Irish tech in 2023, and with solid startup growth rates year-over-year, we can expect plenty more funding like this in the future.

Fintech continues to lead the charge here, with open banking, digital wallets and cross-border payment solutions gaining traction. 

Health tech and biotech are also thriving, with innovations in telehealth, medical devices and diagnostics addressing global healthcare challenges. 

Sustainability-focused sectors, including agritech and climate tech, are also drawing increased interest. Plenty of SaaS solutions are also capturing venture capital attention.

Overall, there’s a major boom in anything tech-related in Ireland right now. With Irish startups like Flipdish and Intercom paving the way, it’s clear why many tech entrepreneurs want to follow in their footsteps. 

Challenges and Opportunities for Startups in Ireland

So, yes, there are a lot of exciting opportunities for entrepreneurs in Ireland. 

However, navigating the startup ecosystem doesn’t come without its challenges. 

Opportunities

Ireland is such a hotspot for startups because it offers unparalleled opportunities for growth. 

With a strong tech ecosystem, the country is home to top global companies like Google and Microsoft – further encouraging innovation and collaboration. 

The Irish government supports entrepreneurship through agencies like Enterprise Ireland, which provides grants, mentoring and networking opportunities. 

Easy access to the EU market allows startups to scale beyond borders. Plus, Ireland’s strategic position as a gateway between Europe and North America amplifies its appeal for global expansion. 

Challenges

Despite its strengths, startups in Ireland face some challenges. 

First, it’s a competitive space, so securing early-stage funding can be a challenge. 

Though manageable, regulatory compliance can be a tricky maze, especially for international founders unfamiliar with local laws. 

Infrastructure limitations outside major cities like Dublin could slow down growth for startups looking to expand regionally. 

There’s also the relatively high cost of living and operating in Dublin, which can strain budgets, especially for bootstrapped ventures. 

While these aren’t significant hurdles, navigating them successfully requires extensive strategic planning and strong partnerships.

Resources for Entrepreneurs in Ireland

Ireland is home to some excellent government-backed resources made to help entrepreneurs succeed. 

Enterprise Ireland is the standout. 

It offers funding and mentorship and their New Frontiers programme provides entrepreneurs with financial support, workshops and one-to-one mentoring. 

If your business is in the early stages and focused on the domestic market, Local Enterprise Offices are seriously helpful. With locations across Ireland, they provide everything from grants and feasibility studies to training and networking events. 

For entrepreneurs outside the EU, the Start-Up Entrepreneur Programme (STEP) allows non-EEA nationals to start a business in Ireland while securing residency. This program offers residency if you invest at least €50,000 in your industry. 

Beyond government resources, Ireland offers a vibrant ecosystem of accelerators and incubators. The NDRC stands out for digital entrepreneurs, offering funding and mentorship to innovative tech ventures. 

Startup Bootcamp runs a hands-on accelerator programme, where you can access seed funding, mentoring and the chance to pitch to investors. 

Expanding internationally is a top priority for many Irish startups, and support for this is readily available. 

Beyond Enterprise Ireland, the Erasmus for Young Entrepreneurs programme offers a unique opportunity to learn from seasoned businesses across the EU. 

Establishing Your Startup in Ireland

Setting up a business in Ireland is straightforward, but you’ll need to handle a few legal formalities first. 

You must register your business with the Companies Registration Office (CRO) and choose the right structure, such as a sole trader, partnership or limited company. 

Once your company is set up, you’ll need to navigate Ireland’s tax system. Luckily, it’s one of the most business-friendly in the world. 

The corporate tax rate on trading income is just 12.5%, one of the lowest in Europe. There are also generous tax credits for research and development, which are seriously attractive for tech- and innovation-led businesses. 

Entrepreneurs can also benefit from income tax relief schemes like the Start-Up Relief for Entrepreneurs (SURE), which refunds taxes paid in previous years.

Ireland Startup Funding: FAQs

Consider Business Startup Funding in Ireland

Clearly, Ireland has firmly established itself as a top startup ecosystem. The country offers everything an ambitious entrepreneur needs to succeed, particularly in the tech sector. 

So, if you’re serious about building a global business, this is a country worth considering.

Of course, navigating new markets, tax systems and immigration rules can be tricky. That’s where we come in. 

At Nomad Capitalist, we provide hands-on support to investors and entrepreneurs entering offshore markets, optimising their taxes and, ultimately, going where they’re treated best. Get in touch to find out more.