Byrne Wallace Shields LLP advises on a quarter of ventures funds raised by Irish companies during Q1-3 2015

The recently published Irish Venture Capital Association (IVCA) Venture Pulse Survey (which tracks funding raised from domestic and international venture capital funds) shows that Irish SMEs raised €415 million during the first nine months of 2015, an increase of 32% on the same period last year.

As shown in the survey, Byrne Wallace Shields LLP advised in transactions representing approximately one quarter of the total funds raised during this period, of which three such transactions ranked amongst the top ten largest fundraisings for 2015 year to date -  Altan Pharma (€41.3 million), 3D4Medical (€15 million), and Heart Metabolics (€13.5 million).  The fundraising by Altan Pharma ranks as the third largest fundraising by an Irish SME so far in 2015. 

Companies for whom the firm acted for during Q1-Q3 2015 are predominantly from the life sciences and business and enterprise software sectors, and included fundraisings for Neuromod, Swrve, Terminal Four and Profector Life Sciences.  In addition to acting for investee companies, the firm have also acted for a number of investors, including US investor, SAIG on its c. US$6 million dollar investment in Galway medical device company, NeoSurgical.

Fundraising activity continues to be strong during Q4 2015.  For example, the firm advised Clavis Insight, the industry leader in providing ecommerce store analytics for global consumer goods brands, on a US$20 million equity investment by private equity firm Accel-KKR and existing investors.

Click here for full details of the IVCA Venture Pulse Survey Q1-Q3 2015.

For advice and guidance in relation to venture capital funding, please contact a member of our Technology, Life Sciences or Venture Capital teams.