Azimut buys 55% stake in Futurimpresa

Azimut will make a capital injection of €2.5m in exchange for the stake. The deal is subject to the approval of the Bank of Italy.

The transaction underpins the development of a pivate equity platform to boost synergies between local SMEs. Azimut will incorporate its Antares AZ I fund, which focuses on minibonds, into the platform.

Futurimpresa manages the Finanza e Sviluppo Impresa vehicle, a €70m venture fund established in 2010. The fund commits an average equity ticket of €5m to firms with a turnover of €10-50m across all sectors. Investors in the fund include the Chambers of Commerce of Milano (55%), Bergamo and Brescia (18%) and Como (9%), according to unquote" data.

In December 2012, the fund committed €10m to Objectway Financial Software, a provider of software and services to the financial industry, in exchange for a 30% stake in the business.

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