VC investment in Ireland experienced a remarkable surge in the first quarter of 2025, totalling $668 million across 28 deals. This represents a substantial increase compared to the same period in 2024, which saw $34 million invested across 17 deals, as reported by the latest quarterly ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Venture Pulse report.
Commenting on VC activity in Ireland during Q1'25, Gavin Sheehan, Partner, Deal Advisory at ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø in Ireland, said: “Irish VC fundraising was very strong in Q1â€�25 led by significant fundraising by Tines, XOcean and Fire1. Globally, a lower deal count quarter-on-quarter is reflective of a more cautious sentiment given broader geopolitical uncertainty since the turn of the year. Notwithstanding these challenges, VC investment in Ireland mirrored international trends in terms of increased deal sizes and later stage investment with robust interest in the AI, big data and medtech sectors.â€�
In summary
- 28 venture capital (VC) deals worth $668 million closed in Ireland in Q1�25, a significant increase from 17 VC deals worth $34 million in Q1'24.
- Strong start to 2025 with three deals raising over $100 million each in the first quarter.
- Notably, the largest deal of the quarter amounted to $125 million, secured by the innovative AI-powered productivity software company Tines, achieving a valuation in excess of $1 billion.
- The Q1'25 edition of the Venture Pulse report produced by ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø analyses the latest global trends in venture capital investment data and provides insights from both a global and regional perspective. All figures cited are in USD; data for the report is provided by PitchBook.
VC investment in Ireland mirrored international trends in terms of increased deal sizes and later stage investment with robust interest in the AI, big data and medtech sectors.
Global VC investment rise
Global VC investment surged from $118.7 billion in Q4�24 to an eleven-quarter high of $126.3 billion in Q1�25, despite ongoing geopolitical conflicts and tensions, continued concerns about global trade and tariffs, and the delay of a major reopening in the IPO market. The overall increase in deal value was largely driven by a series of mega-rounds by AI companies, including a record-setting $40 billion raise by OpenAI.
Meanwhile, VC investment in Europe held steady in Q1�25 at $18 billion, although deal volume declined from 2,314 to 1,883 quarter-on-quarter. A growth in megadeals—including five transactions at or over $500 million (up from just one in Q4)—highlighted the shifting focus among VC investors towards larger, later-stage opportunities.
The Irish market in Q1�25
Ireland experienced its strongest quarter of VC investment in several years in Q1�25, driven primarily by large megadeals, including a $125 million raise by AI-powered productivity software company Tines, a $120 million raise by medical device company Fire1, and a $120 million raise by ocean data services company XOcean.
Fintech and medtech sectors in Ireland continue to attract significant interest from VC investors given their robust innovation ecosystems and strong talent base, with AI solutions also receiving significant investment over the quarter. While positive coming into 2025, the sentiment of VC investors in Ireland was one of caution in the latter half of Q1�25 amid rising geopolitical uncertainties; the growing uncertainty could impact VC investment heading into 2025.
Sheehan added, “As we prepare to launch the all-Ireland ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Global Tech Innovator competition, we are excited to search for Ireland’s next tech innovator. Now in its fifth year, the competition is open to Irish tech founders and entrepreneurs who are pure technology, tech-enabled, tech-led, or tech-driven and ready for their next stage of growth. We anticipate a strong interest from those developing groundbreaking solutions, seeking support in funding, guidance, and expertise to advance their global growth.â€�
Trends to watch for in Q2�25
Heading into Q2�25, deal volume may become subdued as investors in Ireland and globally exercise caution amid trade tensions with the US and geopolitical uncertainties. The implications associated with any US tariffs remain to be determined; both investors and startups are expected to be quite focused on assessing potential impacts on both general operations and potential expansion plans.
Despite these uncertainties, industries such as AI, health and biotech, and fintech are expected to maintain their appeal for investment and particularly for established start-ups with proven traction.
Global key highlights � Q1�25
- Global VC investment rose from $118.7 billion across 8,801 deals in Q4�24 to $126.3 billion across 7,551 deals in Q1�25.
- In the Americas, VC investment rose from $80.9 billion to $94.5 billion quarter-over-quarter—including from $77.2 billion to $91.5 billion in the US—while Europe saw VC investment remain relatively steady at $18 billion; the Asia-Pacific region saw both VC deal value and volume fall to record lows—dropping from $18.9 billion invested across 2,522 deals in Q4�24 to only $12.9 billion invested across 2,149 deals in Q1�25.
- Global corporate VC-participating investment rose from $69.4 billion in Q4�24 to $80.8 billion in Q1�25; the US accounted for the majority of investment during the quarter ($65.5 billion), driven by large megadeals. At the other end of the spectrum, CVC investment in the Asia-Pacific region fell to a 10 year low of $5.8 billion during Q1�25.
- The median deal size for Series D+ deals rose substantially in both the Americas and Europe—from $91.6 million to $96.2 million in the US and from $84.5 million to $177.5 million in Europe.
- Exit value remained relatively muted, with just $78.2 billion seen globally. On a regional basis, exit activity increased somewhat in the United States but fell to only $6.6 billion in Asia-Pacific—the lowest level of exit activity seen in the region since 2015.
Get in touch
For further information on this edition of Venture Pulse, please contact Gavin Sheehan; we'd be delighted to hear from you.
Gavin Sheehan
Partner
ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø in Ireland
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ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø in Ireland