As part of the work for the Innovation Taskforce, I was interested to see a survey of all Irish technology related companies since the start of the decade.
I tweeted #itaskforce and asked whether anyone had seen one. Joe Drumgoole, a friend of long standing, was kind enough to share a list which he had put together, although his list is primarily ICT companies and excludes the life sciences. A few other people also kindly replied to my tweet with data for some specific companies.
The Irish Venture Capital Association have some excellent data on their web site on venture deals closed in Ireland, and update these on a quarterly basis since the start of 2008. Sadly however, they admitted to me this morning that the IVCA does not itself routinely collect exit data and valuations.
I have approached Enterprise Ireland to see whether they have comprehensive data, and are in discussions with them.
In the interim, I used Joe’s data as a starting point and then did a web trawl myself. I also searched the CRO to find each company’s start date, so that the age of the company at its exit could be found. My data and list are here as a .pdf file.
Please note that I have not included companies outside the Republic of Ireland (e.g. in Northern Ireland). Please also note that the exit valuations are in euro, not US dollars.
I included IPOs (chiefly UK AIM) as an exit event, although I admit that this is arguable since liquidity of the founders and investors may not always be achieved.
Please also note that some some companies have chosen not to disclose their exit valuation. In some cases I have been able to discover an “undisclosed” figure from other sources. But in some cases, I do not know the exit valuation, and have marked these accordingly. In working out an average exit valuation for any particular year, or for the entire period, I have normalised the “undisclosed” exits to the group average.
I fully admit my data may not be accurate. If you can supply any corrections, or additions, please tweet me @chrisjhorn. Also, I may get some additional data and/or corrections from Enterprise Ireland in due course..
Some top level statistics for you (if my maths and Excel are correct :-). In the period 2000-2009 my data shows there have been
- 72 exits
- with a total value of 2,175M euro
- which gives an average exit value of about 30M euro
- and an average age of a company when it exits, of 10 years
Some graphs for you:
PS – I also have a list of Venture Capital deals in the Irish Technology Sector, on a quarterly basis since 2008, here as a .pdf file. This is largely from the IVCA data, although not exclusively.