The co-investment deal was signed by EIF and Fondo Italiano d’Investimento, of which CDP is the majority shareholder, to support private equity and debt for SMEs.
Dating back to 2011, the collaboration between the EIF and FII has helped trigger investments of over EUR 1.1 Billion in 22 investment vehicles.
Furthermore, the EIF and CDP, through the “Social Impact Italia” investment platform, will finance Italy’s main ethical financing institution, Banca Etica, and the leading microfinance institution, PerMicro. The two operations are the first in Italy to make use of the European Commission’s “EU Programme for Employment and Social Innovation (EaSI) – Capacity Building”. Main objective is to support Banca Etica and PerMicro through the opening of new branches, developing digital tools and investing in human resources, thus strengthening access to finance for those people who do not have access to the traditional banking system.
Both parties also announced the selection of Alberto Chalon as the first “business angel” in the context of “Caravella”, the Italian part of the pan-European “European Angels Fund” (EAF) initiative. This means that Alberto Chalon investments in innovative SMEs in seed phase and early stages will be backed up automatically by the Caravella Fund. Jointly promoted by CDP and EIF in 2018, the Caravella Fund is dedicated to supporting Italian startups and innovative SMEs, through co-investments with Italian “business angels”.
In the framework of EIF-CDP cooperation, thanks to the recent investment in Eureka! FUND I – Technology Transfer – the target of allocating EUR 200 million through the ITAtech investment platform has been reached ahead of time. The platform, dedicated to financing technology transfer in Italy, was jointly launched three years ago and is managed by the EIF.