APPOINTMENT:The Irish Venture Capital Association has named its new chairman, with Fountain Healthcare Partners Dr Manus Rogan stepping into the role.

Dr Rogan, who is managing partner and co-founder of Fountain Healthcare Partners, succeeds Maurice Roche in the role.

He has more than 23 years of experience in the life science sector in the US, Europe and Japan, and has worked with firms such as GlaxoSmithKline, Elan, and now serves on the board of Opsona Therapeutics.

He also holds Dr Rogan holds a PhD in chemistry from the University of York and an MBA from Trinity College Dublin.

Venture capital firms provide a vital source of funding for early-stage firms and start-ups. Irish venture capital firms have invested about €1.5 billion into Irish small- and medium-sized enterprise over the past 10 years, with an additional

€1.5 billion in investment attracted into the companies from international VCs.

In 2011, high-tech Irish companies raised €274.4 million from investors, with €310.2 million raised in 2010.