SICI holds first closing of regional fund

The fund focuses on Tuscan SMEs and has a €50m target. The vehicle has a lifespan of 10-12 years.

Investors
Current investors in the fund include MPS, Tuscan financial institution Fidi Toscana, and Gruppo Intesa – all three investors committed €5m each. Local banks and financial institutions have also contributed to the fund.

The vehicle will remain open for further investment from qualified investors for 24 months.

Investments
The fund will target Tuscan SMEs. The investment strategy will focus on consolidation of local companies to create larger firms able to compete on an international scale. Companies involved in fashion, leather goods, food processing and advanced mechanics will be of particular interest.

People
Fabrizio Buzzatti is CEO of SICI.

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