Isif backs US venture capital firm to boost clean tech with €18m

State’s sovereign wealth fund says cash is part of its targeted investment in climate action projects

Clean energy: the state’s sovereign wealth fund said the investment would unlock investment opportunities for Irish businesses developing climate tech solutions

The Ireland Strategic Investment Fund (Isif) has invested €18 million ($20 million) in a new fund managed by Activate Capital Partners, a San-Francisco based venture capital and investment firm.

The Activate Capital fund, which closed last year after securing $500 million from investors, will target late-stage investments in revenue generating companies that develop new technologies around clean energy, transport, logistics, cybersecurity and industrial systems.

Isif said its €18 million investment in the fund aligned with ...