Start a constructive debate and promote common tools to address the issue of risk capital. This was the theme that animated the event “Risk Capital: beyond hearsay", promoted by Assolombarda. The goal was to create a comparison between businesses and the financial sector to develop a contemporary vision on the importance of capital openness as a resource for enhancing corporate strategies and competitiveness.
The meeting was attended by the president Alessandro Spada, the vice president Paul Gerardini, Guido Maria Brera (chief investment officer Kairos), Pierpaolo Benigno (professor of Political Economy at Luiss University), Marcellus Messori (Professor Schuman Centre), Alessandra Atripaldi (deputy head of Unit DG FISMA, European Commission), Barbara Lunghi (head of primary markets of Borsa Italiana, Euronext Group), e Andrea Crovetto (CEO Azimut Direct).
Position paper on venture capital
During the event, Assolombarda also presented a venture capital position paper. The document, edited by Messori and Benigno with the collaboration of representatives from the world of business and finance, contains targeted recommendations to improve the effectiveness of the results obtainable when the real and financial economy collaborate together.
The report is the result of a collaborative process and is aimed at companies, financial stakeholders, institutions and business associations. It reflects Assolombarda's commitment to supporting both large and small and medium-sized enterprises, providing them with the financial assistance necessary for their development, especially in view of the opportunities offered by the ecological transition and the business community.
Private equity still limited
Only a small number of companies have adopted private equity. From the AIFI data presented in the 2023 Annual Conference and from Confindustria's 2023 SME Regional Report, it emerges that only approximately 1,3% of Italian SMEs, equal to 2.000 companies, have opted for this financial option.
“As industrialists from the most performing and competitive area in Italy, we feel the rresponsibility to provide a contribution in terms of vision and action on the most significant opportunities that concern businesses – declared the president of Assolombarda, Alessandro Spada -. Our commitment arises from the awareness that, if there are no contrasts between the real economy and the financial economy, our production fabric can only benefit from it. But this contribution cannot ignore a European frame of reference: I am referring to theadoption of an industrial policy concrete and intelligent at a continental and Italian level, necessary to encourage growth. A strategy, devoid of highly ideological and penalizing measures for businesses, capable of dealing with the absolute lack of common financial instruments necessary to face the exorbitant costs of transitions, also in response to the maxi-investment plans promoted by the United States and China to protect the their industries".
“It's a topic of extreme importance for the Italian productive fabric – added the vice president with responsibility for Credit and Finance, Paul Gerardini -. From large to small companies, our country has, on the other hand, a great entrepreneurial tradition recognized at an international level: a peculiarity that must be preserved to increase their ability to compete on global markets. However, the lack of financial resources can represent a real obstacle to its development, which requires the use of qualified professionals, the use of necessary equipment and the use of technology, the availability of an adequate cash flow to make to meet operating expenses. With the paper presented by the Association we explain how this happens important financial instrument, risk capital, can allow Italian companies, even small and medium-sized ones, to satisfy their ambitions of growth, innovation, competitiveness and profitability".
