Italy, Veneto Sviluppo Sets Up new Venture Capital Fund

The Italian Region of Veneto will commit €10m in a private equity fund aimed to invest and take minority stakes in local small and medium enterprises and cooperatives.
Other private investors including banks industrial associations as well as foundations are expected to participate in the fund, which is being created by Veneto Sviluppo, the regional financial company , whose 51% stake is owned by the region. 
The inititative aims to provide companies with equity funding without adding debt. After a detailed due diligence, the new fund will invest in companies for a period up to 10 years.
This new vehicle adds to a €35m venture capital fund, which already invests in innovative start ups.

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