Ms Julie Sinnamon:

When Enterprise Ireland invests in venture capital funds, including many of the ones we currently invest in, we make it part of the agreement that they have to double our investment within the sectors or whatever activities are relevant to Enterprise Ireland. For example, some of the current venture funds in which Enterprise Ireland has invested invest in Ireland and outside Ireland. If we put in €10 million, we say that one has to invest at least €20 million in the Irish market. With Trinity and with funds that are investing within our core area and outside our core area, we would have had restrictions stating that one has to double its investment within the sectors in which Enterprise Ireland is interested. In fact, Trinity's original investments were very much within the core space in which Enterprise Ireland is involved in manufacturing and international trades, largely in the software and services side. Subsequent to the flotation, its investments in UTV and Dalata were outside our area. That was one of the key factors, coupled with the collapse in value of the company, that the view taken by the board at that stage in 2012 was to dispose of that shareholding.