New chair for Irish Venture Capital Association announced
– Leo Hamill of Investec Ventures stresses need to build indigenous economy
Dublin, Wednesday, 27th July, 2022: Leo Hamill, managing partner of Investec Ventures Ireland, has been elected chairperson of the Irish Venture Capital Association. He replaces Nicola McClafferty, partner Molten Ventures, who has completed her term of office.
The Irish Venture Capital Association is the representative organisation for venture capital and private equity firms in Ireland. Last year venture capital investment into Irish tech start-ups and SMEs reached a record €1.3 billion, up 44% from €925m the previous year.
Despite taking office following significant falls in the value of global tech stocks and mounting international uncertainties, Mr Hamill says he remains optimistic about the prospects for Irish start-ups looking to raise funding over the next few years.
“Good Irish companies, especially in the tech sector, will always be able to raise funds. A number of Irish venture capital managers have recently completed funding rounds themselves, while the Government’s timely €90m Irish innovation seed fund should start to come on stream later in the year.”
Commenting on his election as chairperson of the IVCA Mr Hamill said, “In view of global uncertainties and the transient nature of both Foreign Direct Investment and international venture capital, it is more vital than ever that we continue to put the blocks in place to build a vibrant domestic infrastructure of high potential knowledge based companies.”
Mr Hamill has 20 years’ SME experience in the ICT sector and worked for 17 years in the venture capital industry. He is a non-executive director of Rainmaker Business Technologies, TerminalFour Solutions, Diona and Davra. He is a Business Studies graduate of Trinity College Dublin and holds an MBA from the Michael Smurfit Graduate School of Business, UCD.
An independent DCU report released in January 2020 found that Irish venture capital and private equity firms have invested €5bn in Irish SMEs since 2003 and, through syndication, have attracted in a further €3bn in funding from international firms.
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