Fondo Italiano d’Investimento SGR modifies the names of the funds Innovazione e Sviluppo and FII Tech Growth with Fondo Italiano Consolidamento e Crescita – FICC and Fondo Italiano Tecnologia e Crescita – FITeC

Milan, 17th June 2020 – Yesterday was held the Board of Directors of Fondo Italiano d’Investimento SGR, chaired by Andrea Montanino and led by the CEO Antonio Pace.

During the meeting, a number of technical amendments to the Regulation of the direct fund Innovazione e Sviluppo, aimed at further improving its operation, were approved. In this context, the names of the two direct funds have also been changed, with the aim of an alignment with their respective investment strategies. They have been renamed, the first, Fondo Italiano Consolidamento e Crescita – FICC and the second Fondo Italiano Tecnologia e Crescita – FITeC. Together with Fondo Italiano di Minoranze per la Crescita (FIMiC) – launched at the previous Board of Directors meeting – the three funds share the objective of acting as instruments to support the growth of companies with ambitious development projects.

Fondo Italiano Consolidamento e Crescita – FICC, with a current size of 370 million euros, of which 275 million subscribed by CDP as cornerstone investor, is dedicated to investments aimed at promoting sector or industry consolidation operations in Italian sectors of excellence. The Fund now has in its portfolio Marval, a company active in the field of precision machining for the heavy-duty industry, and Fonderie di Montorso, a leading Italian company in the manufacturing of iron casted precision components for hydraulics and complex mechanics. As part of the activities of Marval, a new engineering business unit dedicated to research and development, called “Marval Engineering”, was recently created while signing a technical-commercial agreement with Metatron for the development of natural gas traction systems for heavy duty vehicles with reduced environmental impact. The agreement, supported by Fondo Italiano d’Investimento, shows the growing attention of the Fund and its portfolio companies to sustainability issues (ESG).

Fondo Italiano Tecnologia e Crescita – FITeC, with a current size of 123 million euros (also considering the parallel fund dedicated to companies based in the Lazio Region), of which 75 million subscribed by CDP, focuses on minority investments in high-tech companies. The portfolio of the Fund currently has participations in Supermercato24, BeMyEye, Seco and Healthware. With regard to Healthware, the Company has recently completed the acquisition of Pharmaphorum, an online publication and competence centre dedicated to the healthcare world, based in the UK. The agreement signals the fruitful collaboration between the two companies in providing the best services in the digital transformation of healthcare. This result further confirms Fondo Italiano d’Investimento’s support for the international expansion of distinguished Italian companies.

The new regulations will have to be submitted to the investors of the funds for approval before they become operational.