Fondo Italiano to invest in venture capital funds

CEO of Fondo Italiano, Gabriele Cappellini, will present changes to its mandate to the Banca d'Italia on Friday outlining the proposed intention to invest in venture capital funds. In practice, regulatory changes have already been adopted by Fondo Italiano's management.

Much has been said in the Italian press of the need to invest in start-up companies to stimulate the economy and create jobs, particularly for younger members of Italian society hard struck by unemployment. According to Fondo Italiano's president Marco Vitale, since its launch in 2010 the fund has had to turn down investment opportunities in promising start-up companies due to regulatory limitations, hence its decision to alter its investment strategy.

The fund has made 18 direct investments and nine investments in funds-of-funds and aims to be fully invested within three years. The fund currently holds €1.2bn, but hopes to raise more capital.

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• Topics
• Southern Europe
• Italy
• Fondo Italiano di Investimento