The important thing is not only to be born but above all to grow: this is what Italian companies need to compete on markets around the world. From this point of view, the activity of the Italian investment fund, controlled by the CDP, is beginning to bear fruit, which is about to complete its first two years of life with a flattering balance sheet. An opportunity to take stock of the Fund and explain its potential was an initiative promoted in Florence by Banca Passadore, an ancient private and independent bank that operates at the service of individual customers and companies.
At this time – said both Passadore and the top management of the Fund – it is essential for healthy companies to seize all development opportunities and prepare sustainable and far-sighted growth projects. The Fund is doing its part, as explained by the president Marco Vitale and the CEO Gabriele Cappellini. After raising 1,2 billion euros, the Fund, which is managed by an asset management company, has begun to select companies with a turnover of between 10 and 250 million euros that have a strong international vocation and above all clear growth ambitions. In these, the Fund acquires minority shareholdings and accompanies growth (“We are partners and not just lenders”).
In two years, 1.190 contacts were made with companies for direct or indirect investments (through private equity funds). For direct investments, 140 companies are currently being analyzed and 15 due diligences are underway but 26 investments have already been signed and another 3 have already been approved by the board of directors. For indirect investments through private equity that support Italian companies in the development phase, over 100 investment opportunities were collected and 13 funds already committed were identified and another two approved by the board of directors.
In total, investments of 587 million euros have been approved, equal to 53% of the available capital. “We want to help the most dynamic companies grow and create new national champions” commented Cappellini, implying that other innovations will soon arrive.
