Two new investments for the Fund of Funds Private Equity Italia being approved, to further support
Small and Medium Enterprises future growth
Milan, September 24th 2020 – The Board of Directors of Fondo Italiano d’Investimento SGR (“FII SGR” or “Fondo Italiano”) met yesterday, chaired by Andrea Montanino and led by CEO Antonio Pace.
The BoD approved the reopening of the subscription of quotas of Fondo Italiano Consolidamento e Crescita – FICC and Fondo Italiano Tecnologia e Crescita – FITEC. The subscription period that closed last August 3d, will be reopened starting October 1st and will have the final closing scheduled for the end of March 2021 and aims at completing the fundraising activity for the two funds.
FICC fund targets companies operating in strategic sectors for the Italian economy and aims at enhancing their domestic growth and international expansion. FICC’s portfolio currently includes participations in Marval and Fonderie di Montorso, and includes the acquisition of a participation in Maticmind that following last July signing, is about to be finalized. The investment in Maticmind marks FICC’s entry into the ICT and cybersecurity sector and represents Fondo Italiano future path in line with the newly approved Business Plan 2020-2023 “FII Forward 2023: Phase 2 of Fondo Italiano d’Investimento“; providing patient capital for growth to Italian excellent companies active in strategic sectors for the Country. FICC’s actual commitment is 380 million euros, with a further 30 million euros in the subscription phase. Fondo FITEC is dedicated to supporting Italian companies with high technological content in the scale-up phase. FITEC’s portfolio currently includes investments in BeMyEye, SECO, Everli and Healthware. FITEC’s current commitment is 133 million euros.
The BoD also approved the new corporate organizational chart in implementation of the Business Plan approved last July. This initiative responds to the desire to strenghten the organizaiton while promoting an enhanced corporate culture, with the belief that Fondo Italiano ambition and future growth are based on promoting talents and human capital. The fundraising activity stays among the key objectives targeting institutional investors to further exploit the funding sources provided by Cassa Depositi e Prestiti (CDP).
With reference to the fund of funds activity, two new investments were approved for FOF Private Equity Italia (FOF PE Italia), a private equity fund of funds dedicated to investments in the Italian real economy aimed at supporting small and medium enterprises. Thanks to these new resolutions, the private equity funds,for which the investment has been approved by FOF PE Italy, rise to 7, for a total amount of 185 million euros.
