The Ireland Strategic Investment Fund (ISIF) has invested €50m in Malin Corporation.

The life-sciences company began listing on the Irish Stock Exchange (ISE) today.

In return, Malin is to invest €150m in Ireland and create 200 jobs over the next five years.

The Dublin-based company will act as a startup incubator to develop life science companies.

The ISIF believes the investment in Malin will help build on Ireland's reputation as a life science hub - which will create large numbers of high-end jobs and investment.

Malin is an offshoot of life sciences strategic management company Brandon Point Industries, set up by Elan boss Kelly Martin last January.

Malin was established by a number of former executives of Elan, which was sold for over €6bn in 2013.

ISIF is managed by the National Treasury Management Agency (NTMA) since it was formally established in December 2014.

It has a statutory mandate to invest assets, valued at €7.2bn, in a manner designed to support economic activity and employment in Ireland.

The ISIF will hold a stake of around 15% in Malin Corporation.

To mark the occasion, the Taoiseach Enda Kenny rang the opening bell at the ISE today: