Key Takeaways
- • Irish venture capital investment surged 25% year-over-year to $1.45 billion in 2025, recovering from $1.15 billion in 2024, signaling sustained momentum despite macroeconomic headwinds.
- • Q4'25 closed with 19 deals totaling $155.1 million, up from 14 deals worth $150.1 million in Q3'25, demonstrating accelerating deal velocity in the final quarter.
- • Mega-rounds dominated 2025 performance, with early-year financing including Tines ($125 million), XOcean ($120 million), and Fire1 ($120 million) offsetting later moderation; other notable raises included Proverum ($80 million), NomuPay ($77 million), and Nory AI ($36 million).
- • Q1'26 venture funding into Irish SMEs reached €532.8 million ($533 million equivalent), the highest single-quarter total on record and 89% higher year-over-year, with early-stage deals doubling.
- • KPMG's Gavin Sheehan, Partner at Deal Advisory, characterized 2025 as "a strong year for VC investment in Ireland" with "pretty good" sentiment heading into 2026, despite moderate slowdown during the year from geopolitical and macroeconomic pressures.
Summary
Irish venture capital funding demonstrated robust recovery in 2025, with total investment reaching $1.45 billion—a 25% increase from $1.15 billion in 2024—according to KPMG's latest Venture Pulse report. The recovery reflects growing confidence in the Irish startup ecosystem despite acknowledged headwinds from broader macroeconomic and geopolitical challenges that moderated activity during portions of the year.
Q4'25 specifically showed momentum acceleration, recording 19 venture deals worth $155.1 million compared to 14 deals raising $150.1 million in the prior quarter. The full-year performance was anchored by several substantial financing rounds concentrated early in 2025, including Tines' $125 million raise, XOcean's $120 million funding, and Fire1's $120 million round. Additional notable capital deployments throughout the year included Proverum ($80 million), NomuPay ($77 million), and Nory AI ($36 million), reflecting sustained investor appetite across multiple sectors.
The momentum extended forcefully into 2026, with Q1'26 venture funding into Irish SMEs reaching €532.8 million ($533 million), marking the highest single-quarter total on record and representing an 89% year-over-year increase. This quarter also showed deepening early-stage activity, with fundraises under €1 million doubling from 4 to 8 deals, indicating a strengthening early-stage pipeline. Enterprise Ireland's direct support to 157 startups in 2024, up from 130 in 2023, further corroborates expanding venture ecosystem development.
Gavin Sheehan, Partner at KPMG's Deal Advisory division, summarized the trajectory positively: "It's been a strong year for VC investment in Ireland, with overall investment up substantially year on year. Sentiment is pretty good across the board as we head into 2026." This assessment reflects investor confidence in the Irish market despite its cyclical volatility and exposure to broader capital market conditions.
Q4'25 specifically showed momentum acceleration, recording 19 venture deals worth $155.1 million compared to 14 deals raising $150.1 million in the prior quarter. The full-year performance was anchored by several substantial financing rounds concentrated early in 2025, including Tines' $125 million raise, XOcean's $120 million funding, and Fire1's $120 million round. Additional notable capital deployments throughout the year included Proverum ($80 million), NomuPay ($77 million), and Nory AI ($36 million), reflecting sustained investor appetite across multiple sectors.
The momentum extended forcefully into 2026, with Q1'26 venture funding into Irish SMEs reaching €532.8 million ($533 million), marking the highest single-quarter total on record and representing an 89% year-over-year increase. This quarter also showed deepening early-stage activity, with fundraises under €1 million doubling from 4 to 8 deals, indicating a strengthening early-stage pipeline. Enterprise Ireland's direct support to 157 startups in 2024, up from 130 in 2023, further corroborates expanding venture ecosystem development.
Gavin Sheehan, Partner at KPMG's Deal Advisory division, summarized the trajectory positively: "It's been a strong year for VC investment in Ireland, with overall investment up substantially year on year. Sentiment is pretty good across the board as we head into 2026." This assessment reflects investor confidence in the Irish market despite its cyclical volatility and exposure to broader capital market conditions.
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