Dáil Éireann Debate, Wednesday - 20 May 2026
69. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance the amount committed by ISIF, an organisation (details supplied) and another third party to each of the Activate Capital funds I, II, III, and IV, in tabular form. [38107/26]
View answerThe NTMA have provided me with the below outlining the amount committed by ISIF to each of the Activate Capital Funds I, III, and VI. ISIF is not an investor in either Activate II or IV.
As Activate I and III are no longer actively lending, ISIF has received returns from those investments and is recycling its capital into new investments being made under Activate VI.
|
Year |
Vehicle |
ISIF €M |
|
2015 |
Activate I |
325 |
|
2018 |
Activate I |
175 |
|
2020 |
Activate III |
400 |
|
2023 |
Activate III |
100 |
|
2025 |
Activate VI |
500 |
KKR have been partners of ISIF in supporting Activate since inception. KKR have previously reported that they had committed €175 million to Activate I alongside €325 million from ISIF. The announcement made in 2025 in relation to Activate VI indicated that a total fund size of €770 million had been committed by ISIF and KKR, of which ISIF's part is €500 million.
The details of Activate III were not previously disclosed by KKR or Activate, however, we can confirm that ISIF’s total commitment of €500 million to this vehicle was matched on a basis consistent with the other vintages of Activate reported above.
