Rome, 20 November 2020 - The Board of Directors of CDP Venture Capital SGR - Fondo Nazionale Innovazione approved the establishment of a fund called Fondo Rilancio Startup, which includes 200 million euro allocated by the Ministry of Economic Development to support innovative startups and SMEs in Italy, as part of the recovery following the Covid-19 emergency.
The resources were allocated, by decree implementing art. 38 paragraph 3 of the Rilancio Legislative Decree of 1 October, by the Minister of Economic Development Stefano Patuanelli.
CDP Venture Capital SGR – Fondo Nazionale Innovazione set up a fund dedicated to the management of these resources, called Fondo Rilancio Startup. A tool that will help support and strengthen cooperation among the operators of the Italian Venture Capital ecosystem.
With the Fondo Rilancio Startup, qualified and regulated investors operating in the territory will put forward the innovative startups and SMEs in which they are about to invest or have invested in the 6 months prior to the entry into force of the Rilancio Legislative Decree, in compliance with the requirements laid down by the implementing decree.
“These new resources are testament to the trust that the Ministry of Economic Development places in all the operators who work in synergy every day with the aim of turning Venture Capital into an ecosystem for growth and development of our country’s entrepreneurial culture”, comments the Chief Executive Officer and General Manager of CDP Venture Capital SGR - Fondo Nazionale Innovazione Enrico Resmini. “The revival of innovation in Italy must be able to count on a solid network of qualified and regulated investors, capable of guiding innovative startups and SMEs along their development process.”
The loans will be made in matching with accredited investors. The capital invested by CDP Venture Capital SGR through Fondo Rilancio Startup will amount to a maximum of 4 times the value invested by them, with an overall cap of 1 million euro for each startup or SME invested in.
The investments, made through a convertible financial instrument, will be aimed at innovative startups and SMEs that have recently concluded, or are nearing conclusion of, an investment round with regulated or qualified investors.
The startups and SMEs receiving investments from the Fondo Rilancio Startup will need to have their registered office in Italy and conduct their business or have development programmes in Italy, as well as meet the requirements laid down by the implementing decree.
All the information relating to the Fondo Rilancio Startup will be available over the next few days on the website www.cdpventurecapital.it, where a dedicated portal will be activated to enable investors to put forward innovative startups and SMEs.