John McGuinness (Carlow-Kilkenny, Fianna Fail)
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267. To ask the Minister for Finance the amount of money that Activate Capital has loaned to Irish businesses; and if he will make a statement on the matter. [35999/15]

Michael Noonan (Limerick City, Fine Gael)
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The Ireland Strategic Investment Fund (ISIF) is a partner in the Activate Capital joint venture with KKR.  The ISIF is contributing €325 million towards this joint venture, making it the biggest single investment yet undertaken by the ISIF, with KKR providing the remaining €175 million.  ISIF inform me that  Activate Capital only opened for business on 1 September last and will become operational during the fourth Quarter of 2015.  No capital has been drawn down to date, however, the company is currently in discussions with a number of developers regarding potential opportunities.