The Ireland Strategic Investment Fund (ISIF) is establishing a €2 billion fund to support medium and large enterprises affected by COVID-19.
The Pandemic Stabilisation and Recovery Fund (PSRF) will focus on investment in medium and large enterprises employing more than 250 employees or with annual turnover in excess of €50 million. ISIF may consider investing in enterprises below these levels if they are assessed to be of substantial scale and of significant importance at national or regional level.
Enterprises must be able to demonstrate their business was commercially viable prior to the COVID-19 pandemic, and that they can return to viability and contribute to the Irish economy.
The PSRF will be invested on a commercial basis seeking an appropriate risk-adjusted return and economic impact from investments it makes.
The PSRF will have the flexibility to invest across the capital structure, investing in a range of instruments from equity to debt and hybrid instruments. This will enable businesses to access the capital they need in the most appropriate form that best suits their individual circumstances.
ISIF's investment approach will be complementary to other Government policy initiatives via agencies such as SBCI and Enterprise Ireland.