Michael Murphy, partner of Investec Ventures Ireland, has been elected chairman of the Irish Venture Capital Association (IVCA). He succeeds Brian Caulfield, managing director, Draper Esprit, who has completed his term of office.
Mr Murphy, who also chaired the IVCA in 2003, has over 25 years’ investment experience in the venture capital industry. A graduate of Trinity College Dublin and a Fellow of the Institute of Chartered Accountants, he founded Investec Ventures (formerly NCB Ventures) in 1997.
The Investec investment team has raised three venture funds with the backing of Irish institutional investors. Fund investments include AMCS, Britebill, Blue Tree Systems, Davra Networks, Diona, Fenergo, Ferfics, Gridstore, Helix Health, Mick’s Garage, Silvercloud Health and Rapt.
The Irish Venture Capital Association is the representative organisation for venture capital firms in Ireland. Since 2008, in excess of 1,250 Irish SMEs have raised venture capital of €2.8bn.
These funds were raised almost exclusively by Irish VC fund managers who during this period supported the creation of over 20,000 jobs; attracted over €1.25bn of capital into Ireland and geared up the State’s investment through the Seed & Venture Capital programmes.