€1BN Italian Fund for SMEs Launches

The Italian Government launched a new €1bn fund aimed at supporting Italian SMEs.

The Italian Investment Fund for Small and Medium Sized Enterprises will invest in high-growth companies with €10m to €100m in turnover.
The 15-year fund will act through:
– direct equity investments;
– direct quasi equity investments;
– co-investments in companies alongside with other funds;
– investments in equity funds.
The fund was subscribed by public and private investors, each of which owning a 14.3% share.
Backers include:
– Ministero dell’Economia e delle Finanze (MEF),
– Confindustria,
– Associazione bancaria italiana (ABI),
– Cassa Depositi e Prestiti (CDP),
– Banca Monte dei Paschi di Siena (MPS),
– Unicredit Banca,
– Banca Intesa SanPaolo,
From October 2010, the investment vehicle will open to other subscribers with the aim to reach the final target of €3bn.

Join the discussion