- ISIF has an ambition to invest a minimum of €50 million over the next two years in private equity and venture capital funds established by investment firms which have a minimum of 50% female owners (“Qualifying firms”).
- Each investment will be subject to completion of ISIF’s normal application procedures, customary due diligence and internal approvals, and must meet the requirements of ISIF’s statutory mandate, i.e. investments must be made on a commercial basis in a manner designed to support economic impact and employment in Ireland.
- As far as ISIF is aware, ISIF is the only LP in the Irish market with this stated ambition/ target.
- This initiative seeks to pro-actively support high-quality female majority owned investment firms to overcome some of the disadvantages and unequal opportunities they face compared to other investment firms (see below).
- ISIF will endeavour to address some of the barriers to fundraising that have been highlighted by female investment teams, specifically, the requirement for a track-record as independent capital managers, by seeking to take a broader perspective on track-record when assessing prospective investments.
- Where appropriate, ISIF will endeavour to leverage its deep network to share knowledge on best practice in fund management with female majority emerging investment firms and to facilitate introductions in the market to help catalyse fundraising for these teams.
- This is an opportunity for ISIF to partner with best-in-class investment teams as it seeks to deliver a commercial return and economic impact in Ireland in accordance with its statutory mandate.
Applications will be assessed under the customary criteria for ISIF investment and compliance with ISIF’s statutory mandate :
- Commercial return and economic impact potential
- Additionality in the market
- Absence of deadweight and displacement
- Alignment with ISIF impact themes
- Track record – taking a holistic view of individual and team experience, skillset and network