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ITALY - SICI launches new fund

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Sviluppo Imprese Centro Italia (SICI) has launched Toscana Innovazione, a new €44m fund subscribed to by the financial institution of the Tuscan Region and the Cameral System.

The vehicle will invest in local innovative start-ups or in SMEs with growth potential.

The company has also confirmed Massimo Abbagnale as the new president of its board, which will include Francesco Ciampi, Paolo Rafanelli, Giovanni Ricciardi, Gabriele Beni, Giorgio Pernici, Alberto Marini, Giuseppe Pacini, Marco Nichele, Roberto Bruni, Emmanuele Mazzotta.

SICI manages €135m in assets. Along with Toscana Innovazione it also administers Centroinvest, a EUR 30m fund focused on matured business and sectors,a nd Toscana Vestures a €33m vehicle. The firm is backed by Fidi Toscana, MPS Capital Services and CR di Firenze, CR di Prato, CR di San Miniato and Banca Etruria.

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