Simest, a financial company active in supporting the internationalization of Italian companies with subsidized financial instruments, has launched the Start-up Fund aimed at promoting the start-up phase of internationalization projects of Italian SMEs in countries outside the European Union.
All SMEs, including companies set up by young people and women, individually or in partnership, may request the intervention of the Fund.
The main features of the intervention are:
– temporary and non-controlling shareholding, in any case not exceeding 49% of the share capital;
– possibility of co-investment by other financial subjects (banks, private equity or others); in this case, the shareholding in the Fund cannot exceed that of the proposing shareholders who do not carry out financial activities;
– amount of participation not exceeding 200.000 euros per individual initiative, to be modulated on the basis of the characteristics of the internationalization project;
– duration of the participation from 2 to 4 years (up to a maximum of 6 years, if the specificity of the project requires it);
– repurchase of the investment in the Fund by the entrepreneurial promoters, with joint commitment to the full repurchase by each company participating in the initiative;
The purchase price of the investment will be determined in agreement with the partner/s with reference to the higher value between:
– the acquisition cost in Euros of the equity investment;
– the effective value of the equity investment at the date of the sale, to be determined according to the consolidated criteria applied in professional practice.
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