The Case for Irish Venture Capital: Alan Merriman
Why doesn’t a country good enough to produce Ryanair and Stripe have a normal venture fund industry? Alan Merriman spent three years lobbying the Irish government just to be allowed to launch one, and what he ran into along the way says more about Ireland’s capital gap than most economic reports ever will.
Merriman built Elkstone from a boutique advisory firm into one of Ireland's most active venture investors, and in this conversation he's candid about what it actually took to get there. In this episode, you'll learn:
- Why Ireland’s tax code made venture investing nearly impossible before 2022, and what it took to change it
- Why Merriman puts the quality of a founder at eighty percent of any investment decision, and what he’s really screening for
- Why Elkstone bets on the country instead of a sector, and what that says about the depth of the Irish market
- What Merriman calls “network compounding,” and his pitch for why the Irish diaspora is worth more than its checkbook
If you've ever wondered what it actually takes to build serious venture capital in a small country, or how Merriman makes the case for engaging the Irish diaspora as more than a source of sentiment, this one's worth the full listen.
ALAN MERRIMAN LINKS
IRISH STEW LINKS
- Website Home Page
- Media Partner: IrishCentral
Episode Details: Season 8, Episode 22; Total Episode Count: 163
00:00 - Introduction
01:46 - Origin Story
03:25 - PWC and EBS
09:43 - Scar Tissue Learnings
13:48 - Why Business in Ireland?
16:08 - The Irish Venture Capital Scene
20:17 - Changing the Law
23:46 - Venture Success Stories
31:14 - The Diaspora Strategy
37:32 - Investing Fun
39:11 - Picking Early Stage Winners
45:24 - Seamus Plug
47:17 - John & Martin Recap
47:27 - Credits