ISIF Newsletter - Issue 1

I am delighted to present our inaugural newsletter, which aims to keep you updated on the latest activities of the Ireland Strategic Investment Fund (ISIF). I hope this newsletter will be informative and insightful and help you to fully understand our mandate and strategic direction.

ISIF’s mandate is to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. ISIF’s Impact strategy is designed to help the State meet significant challenges, including climate change, housing, scaling indigenous businesses, and supporting the food and agriculture sectors through its commercial investments. We understand the difficulties businesses encounter seeking capital at all times, but especially now and we are proud to announce that we successfully closed 23 investments in 2023, committing an additional €839 million across our key impact themes.

In this edition, we showcase ISIF's latest Climate investments in the context of our ambition to commit €1bn in this area.

We thank our valued partners and stakeholders for their invaluable support in fulfilling ISIF's mandate. We remain committed to strengthening these relationships and forging new collaborations.

CLIMATE

ISIF's Climate Investment Strategy aims to fund climate-positive initiatives that support Ireland's transition to a Net Zero low-carbon economy. The strategy includes investments in sustainable infrastructure development, new technologies and business models that will facilitate the longer-term transition of the Irish economy to Net Zero.

In 2021, ISIF announced its ambition to invest €1bn in climate-related investment over a 5-year period. The four investments we are announcing showcase the ISIF Climate strategy in action. With the addition of these investments to the Climate Portfolio, ISIF has made great progress towards this target with €636m committed.

They represent the wide range of capital requirements the economy will need during the sustainable transition from Venture Capital to Infrastructure. These investments will also work to trigger private capital at scale into Irish investments.

These investments will be pivotal in supporting Ireland's transition to a clean, green future. ISIF is delighted to partner with high-calibre investors to bring smart private capital into Irish companies and projects.