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ISIF May Allocate €1 Billion to Irish Projects for 2015

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Irish Strategic Investment Fund (ISIF), a strategic development sovereign wealth fund (SDSWF), plans to allocate between €500 million and €1 billion to projects and investments in Ireland for the remaining part of the year. The ISIF has a number of mandates which include generating commercial returns, boosting Ireland’s economy and domestic job creation. The ISIF is looking at over 100 proposals, building a pipeline of deals. Some allocations have been in Movidius and Malin Corporation. ISIF is also investigating opportunities to fill the investment gap in residential development construction.

ISIF manages the remaining €7.4 billion left from the National Pension Reserve Fund (NPRF). ISIF is run by Ireland’s National Treasury Management Agency.

U.S. Pentagon Looks at Strategic Development with Startups

The concept of strategic development is not unique to countries like Ireland and the United Arab Emirates. The U.S. Defense Department is working with the venture capital arm of the Central Intelligence Agency (CIA), In-Q-Tel, to source technology startups. In-Q-Tel was formed in 1999 to identify and invest in startups that could keep the CIA in the loop on the latest private sector technology developments related to its mission.

The Pentagon is keen on finding startups to “help its mission to defend the United States”. One key area of interest is cyber security.

Korea’s NPS Invests In Crypto Exchanges Amid Crackdown

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South Korean news outlets have reported that South Korea’s National Pension Service (NPS) has unwittingly invested roughly US$ 2.4 million in four local cryptocurrency exchanges – Korbit, Upbit, Coinplug, and Bithumb – even as regulatory officials move to subdue the unbridled enthusiasm for crypto trading that has flourished in the tiny country. The US$ 550 billion pension scheme invested in the cryptocurrency exchanges indirectly through two venture capital funds handled by external managers with exclusive rights over asset allocation, according to an NPS officer.

Crypto trading has proved wildly popular in South Korea, drawing an estimated one million citizens to the largely unregulated exchanges that have cropped up over the past few years. South Korea, which is ranked first in the world in terms of internet sped, is the largest market for cryptocurrency transactions behind Japan and United States, and accounts for 29.8% of trade globally, according to a report released by the Korea Insurance Research Institute (KIRI) in December 2017.

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Ripple Attempts to go the Central Bank Route

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San Francisco-based Ripple, a tech company that professes the use of blockchain to reboot the payment systems globally, landed a big deal with the Saudi Arabian Monetary Authority (SAMA). Ripple started a pilot program that will be spearheaded by SAMA and a few Saudi banks to deploy xCurrent for cross-border payments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Investment Corporation of Dubai Eyes $1 Billion Loan Deal

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The Investment Corporation of Dubai (ICD) plans to raise US$ 1 billion in a loan to refinance existing debt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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