Fondo Italiano d’Investimento SGR, an Italian fund of funds, held the first closing of two funds.
– Innovazione e Sviluppo, a private equity fund, and
– FII Tech Growth, a late stage venture capital fund.
The closing was reached through the support of cornerstone investor Cassa Depositi e Prestiti, which has commited €150m to Innovazione e Sviluppo and €50m to FII Tech Growth.
Innovazione e Sviluppo, which has a final target of €700m, aims to support the growth of SMEs operating in agrifood, mechatronics, Italian design sectors, as well as other relevant areas in the framework of the county’s industrial and services systems.
FII Tech Growth, which has final target of €150, will focus on already venture capital backed companies which need further funding to continue to grow as well as high tech industrial innovation TMT (Technology, Media and Telecommunications) and SMEs to develop domestically and internationally.