Ireland has introduced a €1bn ($1.11bn) state financing facility to give domestic businesses the capital they need to grow in international markets.
The scheme, running through 2030, was announced jointly by Tánaiste (the Deputy Prime Minister of the Republic of Ireland) and Minister for Finance Simon Harris and Peter Burke, Minister for Enterprise, Tourism and Employment.
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The Ireland Strategic Investment Fund (ISIF), a unit of the National Treasury Management Agency (NTMA), will invest the money.
It will do so through direct equity stakes, debt instruments and co-investment arrangements with specialist fund managers.
This follows the fund’s wider approach of supplying patient, long-term capital.
ISIF operates under a dual mandate. Each investment must meet commercial return thresholds and deliver verifiable employment and economic activity within the Republic of Ireland.
Investment will focus on sectors where Irish-based companies already have established capabilities.
These include technology, life sciences, professional business services, and the agri-food and marine industries.
The new facility extends ISIF’s existing Scaling Businesses portfolio, which has so far financed more than 500 Irish enterprises.
Recent companies to receive direct investment under this approach include medical device company Proverum, quantum computing specialist Equal1, software provider Progress Systems and fleet telematics business Cameramatics.
Of the €1bn, officials have set aside €100m for venture-style investments.
This portion is aimed at higher-risk companies commercialising research in artificial intelligence, deep tech and the life sciences.
Harris said: “Through this announcement ISIF continues to demonstrate its commitment to scaling Irish companies with ISIF having already backed over 500 Irish companies under its Scaling Businesses investment theme, and this programme will help expand and accelerate that strategy by providing access to capital to grow internationally while maintaining a significant presence in Ireland, contributing to the Irish economy’s long-term resilience and prosperity.”
