In early November of last year, I started a project with a modest goal. I knew Enterprise Ireland (EI) had been among the most active venture capital investors in the world the previous year. I wanted to know how its investments were doing. I’d previously written about the Irish state’s other big investment arm, ISIF. So I knew state investment bodies aren’t the same as private ones – that they don’t try to make as much money as possible, but instead try to support Irish industry and employment. But nonetheless I was interested in EI’s financial returns because financial returns…

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