The FITEC II fund has held the first closing at over 137 million euros
The capital will be invested in Italian SMEs with high growth potential in the Tech Sector.
Davide Bertone, CEO of FITEC II management company “Fondo Italiano d’Investimento”, said: “At first closing, FITEC II has already exceeded the size of its predecessor fund. A further step towards the realization of the 2022-2025 Business Plan of Fondo Italiano, aimed at supporting the growth of Italian companies”
Milan, July 26th, 2023 - Fondo Italiano d'Investimento SGR announces that it has successfully concluded the first closing of the fundraising of FITEC II (Fondo Italiano Tecnologia e Crescita II), the growth equity fund dedicated to high growth companies with a significant technological content. The closing has exceeded the amount of 137 million euros, higher than the final size of the previous FITEC fund.
The Fund's investment strategy, with a target size of 250 million euros, is aimed at supporting the development plans of Italian tech SMEs, with special emphasis on companies operating in IT and digital transformation, industrial innovation, energy and environmental transition.
FITEC II stands in full continuity with the successful path of FITEC, the first fund of its kind in Italy and currently market leader, whose activities started in 2017. From its inception, the fund has supported nine first-class Italian companies: SECO, listed on the Euronext STAR Milan segment with FITEC assistance, Unguess, FRIEM, Apparound, Inxpect, Termo, Healthware, Everli and BeMyEye.
FITEC II successfully concluded the initial phase of fundraising with the support of Cornerstone Investors CDP Equity, Cassa Nazionale di Previdenza e Assistenza Forense and Intesa Sanpaolo, alongside other leading investors, attracting the interest of both new and previous investors.
Managed by Senior Partners Claudio Catania and Mauro Pretolani, FITEC II activities will focus on SMEs aiming to strengthen their growth, technological development, and innovation plans, whether through internal initiatives or M&A processes.
Alongside the efforts to enhance competitiveness, top priority will be given to companies environmental, social, and governance (ESG) performance, in line with international best practices and Fondo Italiano d'Investimento objectives.
Davide Bertone, CEO of Fondo Italiano d’Investimento, points out: “Fondo Italiano always acted as catalyst for a broad ecosystem of capital to support SMEs in sectors, supply chains and issues of strategic importance for the Country. With these objectives in mind, after the launch of the fund dedicated to agri-food and the impact investing fund of funds, FITEC II has achieved an impressive first closing within just six months of its inception, already exceeding the final size of the previous FITEC fund. This achievement is in line with Fondo Italiano 2022-2025 Business Plan, aiming to reach 4 billion euros of total capital dedicated to foster Italian companies growth projects”.
Claudio Catania and Mauro Pretolani, Senior Partner of Fondo Italiano d’Investimento, state: “The success of FITEC II fundraising demonstrates the management team ability to generate returns for investors by fostering virtuous growth paths for high growth SMEs with a significant technological content. A prime example of this is SECO successful listing on the Euronext Tech Leaders index, including the best technology companies listed on Euronext in Europe. Our leadership position in our segment of the Italian capital market allows us to develop a pipeline of high-quality investment opportunities”.
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Fondo Italiano d’Investimento SGR
Fondo Italiano d'Investimento SGR was established in 2010 on the initiative of the Ministry of Economy and Finance (MEF) and is majority-owned by CDP Equity, with the remaining shares held by Intesa Sanpaolo, UniCredit, Fondazione ENPAM, Fondazione ENPAIA, ABI, Banco BPM and BPER Banca. Fondo Italiano d'Investimento SGR main objective is the management of closed-end investment funds dedicated to channelling patient capital into the system of Italian companies of excellence, combining the objective of return on invested capital, in line with international benchmarks, with that of developing the Italian production system. Fondo Italiano manages 15 closed-end investment funds reserved for qualified investors, for over 2.8 billion euros and operates through direct and indirect investments (funds of funds). Fondo Italiano considers sustainability a core value and is committed to integrating environmental, social and governance (ESG) criteria into its investment activities.
For futher information:
Roberto Travaglino
Fondo Italiano d’Investimento SGR
+39 02 63532 208
roberto.travaglino@fondoitaliano.it
Thanai Bernardini
Ufficio stampa esterno
+39 335 7245418
me@thanai.it
Alessandro Bozzi Valenti
Ufficio stampa esterno
+39 348 0090866
alessandro.valenti@thanai.it