I am delighted to share our latest newsletter. In this issue, we reflect back on 2024 and share some of our key highlights from the year and look forward to 2025.
Against a backdrop of ongoing geopolitical change and macro-economic uncertainty, I am delighted to announce that ISIF made commitments totalling €1.6bn to new investments in 2024, bringing total ISIF commitments to over €8.8bn to benefit businesses and projects in Ireland since inception. These investments were spread across all our key impact strategy themes of climate, scaling indigenous businesses, housing and enabling investments, and food and agriculture.
Looking Ahead:
ISIF has a strong pipeline of opportunities and we remain committed to delivering on our legislative mandate and our strategy, working to invest with strong Irish partners while also acting as a catalyst for co-investment from specialist international capital providers and operators, securing commitments from them to Ireland.
ISIF will continue to prioritise the use of its capital and resources to address strategic challenges and focus our efforts on the impact themes while remaining ready to respond to new challenges facing the Irish economy.
10 Years of Impact:
In December 2024, ISIF marked 10 years in operation. ISIF has made a very significant impact in the Irish Economy since inception in 2014. To mark this significant milestone ISIF hosted an event on the 3rd April 2024 in The Dublin Royal Convention Centre. We were delighted to gather with so many of our partners and key stakeholders as we launched our new report – ISIF 10 Years of Impact, which you will find a link to below.
I want to take this opportunity to express my appreciation to my colleagues at the ISIF and throughout the National Treasury Management Agency (NTMA). Their expertise, dedication, and collaborative spirit have been crucial in helping us achieve our goals. Additionally, we would like to thank our investees and asset management partners, with whom we have had the privilege of working over the past ten years.
We look forward to continuing this journey with you and achieving continued success together.
Impact Report:
ISIF was established in 2014 as Ireland emerged from the Global Financial Crisis. Since then, ISIF has continued to be a cornerstone investor across a range of alternative lenders, venture capital and private equity funds – in doing so, ISIF has been a catalyst in the evolution of a vibrant domestic investment community, with experienced and specialist teams now fully embedded in the Irish market.
Throughout the last decade, ISIF’s investment strategy continued to evolve in line with the country’s priorities. ISIF invests in areas that are critical to supporting Ireland’s economic success and where ISIF’s flexible, long term and patient approach to investing can be highly additional.
Looking ahead, ISIF will continue to focus on supporting long term, sustainable economic growth in Ireland under its four key themes: Housing and Enabling Investments, Climate, Food and Agriculture, and Scaling Indigenous Businesses.
ISIF kicks off new €1bn climate action investment programme with three investments totalling €160m
The Ireland Strategic Investment Fund has kicked off a new €1bn four-year climate action investment programme, with three separate investment commitments totalling more than €160m.
Having exceeded its original €1bn climate investment ambition two years ahead of schedule, this new programme was announced last month and will bring total climate commitments to €2bn over the next four years.
The three new investments announced today are in specialist funds that will focus on supporting various aspects of Ireland’s Climate Action Plan and achieving its Net Zero goals in:
Renewable power generation;
Energy storage;
Sustainable fuels; and
Hydrogen and carbon capture technology.
The new commitments announced include:
A €28m investment in AP Ventures Fund III LP - a fund focused on hydrogen and carbon capture technology, from Seed through to Series B;
A €75m investment in the HitecVision New Energy Fund 2 SCSP - a fund focused on creating investment platforms across the themes of renewable power and electrification, sustainable fuels (e.g. biomethane), and circular and efficient energy systems.
A €58m investment in the L&G NTR Clean Power (Europe) Fund - which invests in clean power infrastructure assets to support Europe’s decarbonisation and energy security agenda.
