Dáil Éireann Debate, Wednesday - 6 March 2019
146. Deputy Maurice Quinlivan asked the Minister for Business, Enterprise and Innovation the number of companies in which Enterprise Ireland has an equity stake by amounts (details supplied); and if she will make a statement on the matter. [10986/19]
View answer147. Deputy Maurice Quinlivan asked the Minister for Business, Enterprise and Innovation the estimated value of the equity portfolio of Enterprise Ireland; and if she will make a statement on the matter. [10987/19]
View answer148. Deputy Maurice Quinlivan asked the Minister for Business, Enterprise and Innovation the amount the equity portfolio of Enterprise Ireland generated in income in 2017 and 2018; and if she will make a statement on the matter. [10988/19]
View answer149. Deputy Maurice Quinlivan asked the Minister for Business, Enterprise and Innovation the maximum equity stake Enterprise Ireland can take in a company; and if she will make a statement on the matter. [10989/19]
View answerI propose to take Questions Nos. 146 to 149, inclusive, together.
Enterprise Ireland provides financial support to companies via grant and equity investment. Equity investment is made in the form of ordinary shares, convertible shares and preference shares for capital projects greater than €250,000, to support high potential start-ups and high-risk projects in line with EU State Aid legislation, Irish legislation and EI policy.
The following table represents Enterprise Ireland’s ordinary share equity investment in 709 companies which equates to circa 1/3 of the portfolio on an investment costs basis.
|
% of share equity investment |
No. of Companies |
|
<=5% |
197 |
|
>5% and <=10% |
500 |
|
>10% and <14% |
10 |
|
>30% |
2 |
|
Grand Total |
709 |
The overall cost of Enterprise Ireland’s equity portfolio as at 26th March 2018 was €336 million. The direct equity portfolio generated €26.8 million in 2017. The 2018 figures are unavailable until the publication of the Enterprise Ireland annual report in Q2 2019. Enterprise Ireland’s current policy is not to exceed 10% of the voting share capital of a client company. However, there are certain situations in which this is unavoidable and currently 1.7% of the portfolio exceeds the 10% threshold.
