Wednesday 28 September 2016

Strategic investment fund to invest up to €1bn across country during 2015

Paul O'Donoghue

Published 22/04/2015 | 09:24

Eugene O'Callaghan
Eugene O'Callaghan

The State's newly created investment fund has announced that it expects to commit between €500m and €1bn to investments in Ireland over the rest of the year.

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The Ireland Strategic Investment Fund, which is controlled and managed by the National Treasury Management Agency, is currently evaluating over 100 investment proposals throughout the country.

The additional funds that it expects to invest throughout 2015 will bring its total Irish investment commitments to between €2bn and €2.5bn.

ISIF Director Eugene O’Callaghan said: “The ISIF is building momentum, identifying commercial opportunities and investing in high-quality proposals. Our pipeline is strong and growing.

We currently have almost €1.5bn deployed on a commercial basis in Ireland and this will grow to more than €7bn over the next three to five years."

Mr O’Callaghan was speaking at the ISIF’s second market engagement event, entitled “Building Momentum and Relationships”, which took place at Convention Centre Dublin and was attended by over 500 entrepreneurs, investors, and advisors.

The Minster for Finance, Mr Michael Noonan TD, was the keynote speaker at the event.

Other speakers included representatives of companies in which the ISIF has invested, such as Malin Corporation plc (which recently listed on the Irish Stock Exchange in one of Europe’s largest-ever biotech IPOs), confectionery manufacturer Lily O’Brien’s and software company Movidius.

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