The Irish Venture Capital Association has elected Neil McGowan, director of MML Growth Capital Partners Ireland, as its new chair.

McGowan succeeds Alex Hobbs, fund manager of Dublin Business Innovation Centre, who has completed his term of office.

The Irish Venture Capital Association is the representative organisation for venture capital and private equity firms in Ireland. Since the onset of the credit crunch in 2008, in excess of 1,450 Irish SMEs have raised venture capital and private equity of €4bn.

“It is more important than ever that we create the right business environment to encourage local entrepreneurs and risk-takers”

These funds were raised almost exclusively by Irish VC and PE fund managers who during this period supported the creation of up to 20,000 jobs; attracted over €2bn of capital into Ireland and geared up the State’s investment through the Seed & Venture Capital Programme by almost 16 times.

Prior to joining MML Ireland, Neil spent five years as an investment director with FL Partners. He started his career with PwC in Dublin, later spending over six years working in investment banking at HSBC and Bank of America in London before relocating to Dublin with Goodbody Corporate Finance.

McGowan is a Fellow of the Institute of Chartered Accountants in Ireland and a graduate of University College Dublin.

Back the risk-takers

McGowan said that it is imperative that Ireland creates the right conditions for entrepreneurs and risk-takers to succeed.

“As an economy we are over reliant on a narrow tax base, and in particular, corporate tax revenue from multinationals to fund public services and the running of the state,” said McGowan upon his acceptance of the new role.

“It is thus more important than ever that we create the right business environment to encourage local entrepreneurs and risk-takers.”

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Written by John Kennedy (john.kennedy3@boi.com)

Published: 4 September, 2019