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Brexit leads to more investment in Ireland

Brexit leads to more investment in Ireland

Brexit leads to more investment in Ireland

Venture Pulse is KPMG Enterprise’s quarterly report highlighting the key trends and opportunities facing the venture capital market globally and in key jurisdictions around the world.

At mid-year, global VC investment was well-off the pace required to match 2018’s record-setting results. While VC investment in both the Americas and Europe was strong during Q2’19, a second weak quarter of investment in China negatively impacted global VC investment levels.

VC investment in Ireland

Ireland continued to attract attention from companies looking to invest in Europe while managing Brexit uncertainty. During Q2’19, mobile and cloud company Deem announced a new European Innovation Centre in Dublin, while Canada-based TD Securities and US-based Reddit both opened new offices in Ireland. Amazon also announced a renewable energy project as part of its sustainability commitment. During Q2’19, Ireland also saw an interesting partnership forged between drone company Manna and food delivery company Flipdish.

Ireland continues to be a great location for companies looking to expand into Europe or for companies concerned about the impact of Brexit on their business. We’ve seen a lot of activity this year – from TD Securities and Reddit opening new offices - to mobile and cloud software company Deem announcing plans to open their European Innovation Centre in Dublin. Many corporates are looking at Ireland as the place to be right now.

Anna Scally,
Partner, Head of Technology & Media & FinTech Lead