Cdp: Venture Capital 2020-22 plan, 1 billion fund for start-ups

(ANSA) - ROME, JUNE 23 - The 2020-2022 industrial plan of 'Cdp Venture Capital - National Innovation Fund', called 'From Italy to innovate Italy', approved by the board of directors of the asset management company that can count, is "already operational" out of a budget of approximately one billion euro, of which 800 million already underwritten, thanks to resources allocated equally by the Ministry of Economic Development and the Cdp group through the controlled Cdp Equity. The CEO of Cdp, Fabrizio Palermo, underlines the goal of reaching 2020 with investments in "over a thousand" start-ups.
    Four funds are already active (two for start-ups and innovative projects, one of which is specific for the South; a third invests in venture capital funds; the fourth is in favor of business accelerators and start-ups with high technological content and in the high potential sector of growth). Two further funds will be launched in the coming months: they will focus first on start-ups focused in areas deemed strategic for the country, the second on start-ups of the technology transfer chain. In the early months of 2021, a fund will also be launched to support consolidation and expansion on international start-up markets already in 'phasing'.
   "Overall - it is explained - the asset management company today has underestimated a pipeline of over 200 opportunities and plans to free up overall investments for over 250 million by the end of 2020". Since February, new initiatives have been approved which bring to over 100 million the total value of the investments decided, with an impact on approximately 160 start-ups, and which also include support actions born from the Covid-19 emergency and the consequent severe difficulty of the start ecosystem. up ". (ANSA).