Irish SME tech investment dropped 16% to €204m in Q4 2023, but overall funding reached a record high of €1.35bn.

Irish SMEs saw investment drop 16% to €204 million in Q4 2023, according to new figures from the Irish Venture Capital Association (IVCA). Despite the decline, overall tech funding for the year hit a record high of €1.35bn. The IVCA cited global VC funding's 38% decrease in 2023 as a contributing factor. International funding accounted for two-thirds of the total funds invested in Irish tech SMEs in 2023.