General Bank ha Pmi2Change launched, a new project dedicated to small and medium-sized Italian listed companies with the aim of strengthening its growth, increasing its liquidity and improving its access to capital markets.
The initiative is part of a structural context in which the overall value of Italian companies is estimated at approximately €3.000 trillion, yet only 40% is represented by listed companies. Financial wealth remains heavily concentrated in stakes in unlisted companies, amounting to approximately €1.800 trillion, compared to a market capitalization of around €1.200 trillion.
Starting from these numbers, the project aims to reduce the gap between the real economy and the capital market through the creation of an ecosystem dedicated to SMEs and the development of new investment instruments, including a And F active linked to a dedicated index.
Banca Generali launches the "Intermonte Valore Italia" index and a new ETF.
Pmi2Change was born in collaboration with Intermonte, which joined the group in 2025, and aims to build a stable platform to support already listed SMEs and promote their visibility on the financial markets.
The heart of the project is the creation of the index “Intermonte Value Italy”, composed of 100 companies listed on the Italian Stock Exchange with a capitalization of less than one billion euros and not included in the Ftse Mib. From this basket will be created an active ETF e Pir compliant, designed to channel new investment flows towards the Italian SME segment.
Banca Generali plans to provide initial support to the instrument about 100 million euro, with the aim of arriving up to 500 million In the medium term. According to estimates, the project could generate daily inflows of €1–2 million, representing over 5% of the total free float of the companies included in the index.
Mossa: "SMEs are the backbone of the production system."
The CEO Gian Maria Mossa He emphasized the central role of the Italian entrepreneurial community: "Entrepreneurs truly represent the backbone of our production system, and today more than ever they need to feel the national system at their side." Mossa also highlighted how the project was born to address one of the key issues facing the Italian market: the limited liquidity of listed SMEs and the difficulty of stable access to capital.
The manager also recalled the broader vision of the bank, which is working on new business plan awaited by the end of November, structured around three areas: support for SMEs, expansion of wealth management, and development of artificial intelligence to support consultancy.
Barchiesi (Cdp Equity): "Patient capital and industrial vision are needed."
During the presentation of the PMI2Change project, also spoke Fabio Barchiesi, CEO Cdp Equity, which recalled the strategic role of long-term investors:
"Encouraging the growth of SMEs requires patient capital, capable of combining industrial vision and economic sustainability, and sometimes courageous decisions." Barchiesi also highlighted how "Cdp Equity's intervention not only provides finance, but also enhances the managerial skills of companies, strengthens strategic supply chains, and provides an international perspective."
