Live News
Bite-sized servings of the latest in business, tech and current affairs
Welcome to the Business Post’s Live News section. We’re here all day to keep you up to date on developments in business, tech and current affairs.
The value of Irish venture capital deals fell by 70 per cent in the third quarter of this year compared to the same period last year, new figures show.
According to data from KPMG, there was $92.4 million (€85.18 million) in venture capital investment made in Ireland from June to September, compared to $306.1 million in the same period in 2023. This year’s third quarter saw a 67 per cent drop from the second quarter, when deals totalling $280.6 were concluded.
According to KPMG’s quarterly report, global VC investment was “relatively soft” during the third quarter.
This was driven by continued uncertainties in the market, including ongoing geopolitical conflicts, the approaching US presidential election, and the protracted lack of exit activity across regions, according to the report.
Eoin O’Hare has the full report
UK-based Octopus Renewables has paid €38m for a newly-completed solar energy farm in Co Meath that has a 15-year power purchase agreement with Microsoft.
It brings the number of solar energy farms the company has acquired this year in Ireland to five. Octopus now has the largest solar energy complex in Ireland.
Earlier this year, it paid €160m for four solar facilities from Statkraft, which had developed those projects under Octopus’ oversight.
The Irish Independent has more
Members of the Rohan family shared a €10 million dividend from their property development business last year, newly filed accounts show.
Pre-tax profits at Airspace Investments and Subsidiaries, a holding company for the Rohan group’s property ventures, fell to €5.8 million last year from €29 million in 2022, according to its latest annual return.
Directors James Rohan and Eugene McCague note that the fall was partly due to a €1.7 million reduction in the value of the group’s investment properties.
Good morning from the Business Post.
Vish Gain here with you for the day to keep you up-to-date on all the latest updates.
Start your day with a look at our Legal 100 list of Ireland’s top lawyers, compiled by Catherine Sanz.
The inaugural list is the result of months of work and features practitioners working in a range of sectors including real estate, planning, insolvency, tech, intellectual property and employment.