The relaunch fund launched by Cassa Depositi e Prestiti is part of the measures to make resources flow to support innovative companies in Italy
H Incubators help startups to grow (Getty Images) A new element is added to the support plan of the government to Italian companies and startups in the framework of the National Innovation Fund. With the publication of the latest implementing decrees, the savings management company of Cassa Depositi e Prestiti, Cdp Venture Capital sgr, officially establishes the so-called Relaunch Fund which will be able to count on a budget of 200 million euros specifically allocated by the Ministry of Economic Development in the Relaunch decree and intended for investments in small businesses and national innovative startups to support their recovery after the Covid-19 emergency.The goal is to create maximum integration between operators in the venture capital sector Italian, which remains one of the main growth tools for startups and national SMEs. According to the directives of Cdp venture capital sgr, with the Relaunch Fund, qualified investors, such as business incubators and accelerators, together with regulated investors, of venture capital, will report the startups and companies in which they are about to invest o have invested in the six months before the Relaunch dl comes into force.
All the loans will therefore be made together with accredited private investors, and the investment of Cdp venture capital through the Relaunch fund cannot be higher to a maximum of four times the investment made by individuals in the same startup or company, and for an overall limit of one million euros.
In particular, in the first six months of activity, the Fund will focus above all on co-investments, always in partnership with private individuals and intended in particular for startups and innovative companies that have suffered a drop in revenues of over 30% in the first half of 2020 due to the measures to tackle the pandemic.
Furthermore, in terms of return, to the activities and companies receiving these ad hoc investments, Cdp venture capital will be able to ask for a commitment, even if not binding , to maintain employment levels for a period of at least one year after closing the investment.