Oireachtas Joint and Select Committees

Thursday, 23 March 2023

Public Accounts Committee

2021 Financial Statements of Enterprise Ireland: Discussion

9:30 am

Mr. Kevin Sherry:

We are a limited partner in those funds. The venture fund makes the decision on when to sell its equity in a company. Enterprise Ireland does not have a role in that but gets a return when they sell. Usually, the decision is made when a company is being acquired, or else there is a further round of funding by a larger investor coming in as part of which the new investor buys out some existing shareholders, including the funds.