Caroline Gaynor named chair of Irish Venture Capital Association, urging focus on scaling indigenous start-ups and R&D amid tariff concerns.
Caroline Gaynor has been elected chairperson of the Irish Venture Capital Association (IVCA), coinciding with the organisation’s 40th anniversary.
Gaynor is a partner at Lightstone Ventures, a Silicon Valley-headquartered venture capital firm, where she focuses on investments in biopharmaceuticals and medical technology.
“I don’t think tariffs will impact in the near term. However, it shines a spotlight on our need to embrace a two-track approach to industrial development with a more urgent focus on scaling indigenous start-ups, as well as incentivising FDI investment in R&D”
She succeeds Gerry Maguire, general partner at Atlantic Bridge, who has completed his term.
Ireland’s industrial future is in the balance
The IVCA represents venture capital and private equity firms across Ireland. In 2024, venture capital investment into Irish tech start-ups and SMEs exceeded €1.3bn.
Speaking on her appointment, Gaynor addressed recent speculation around tariffs and their implications for Ireland’s industrial strategy.
“Moving pharmaceutical manufacturing is a complex and lengthy process, so I don’t think tariffs will impact in the near term,” Gaynor said.
“However, it shines a spotlight on our need to embrace a two-track approach to industrial development with a more urgent focus on scaling indigenous start-ups, as well as incentivising FDI investment in R&D, which is far ‘stickier’ and less mobile than manufacturing.”
Gaynor joined Lightstone Ventures in 2017 following her participation in the BioInnovate programme in 2013 and her involvement in several early-stage medical device start-ups. Her earlier career includes 11 years in the pharmaceutical industry, where she held roles in regulatory affairs, product management, sales and marketing, and market access with IPHA, Schering AG, and Bayer Healthcare.
She currently serves as a director at Amber Therapeutics, ProVerum Medical, Carrick Therapeutics, and Volta Medical. Gaynor holds a Pharmacy degree from Trinity College Dublin and Master’s degrees in Pharmaceutical Medicine and BioInnovation from Trinity College Dublin and University of Galway respectively.
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