Proposed legal, accounting and regulatory changes could hinder the growth of the venture capital industry and an enterprise culture in Ireland, the Irish Venture Capital Association (IVCA) warned last night.
The Irish venture capital industry has Ђ325m available for investment, said Michael Murphy, chairman of the IVCA.
However, he said that several regulatory changes could threaten the future of Ireland's enterprise culture and VC sector.
"At the investee company level, the onerous responsibilities already assumed by non-executive directors may be increased if the Companies Bill 2003 is enacted," he said.
"Non-executive directors add value and expertise to investee companies and there is a danger that individuals will be unwilling to serve on boards of early stage companies."
