EUR 15m suscription in Interbanca Investimenti Sud (Italy)

EIF has subscribed EUR 15million (30% of the total fund size) in Interbanca Investimenti Sud. This Private Equity fund is managed by Interbanca Gestione Investimenti SGR, a wholly-owned subsidiary of Interbanca S.p.A. (Gruppo Banca Antonveneta) and advised by Vertis S.p.A., a Naples-based independent corporate finance company. The fund, established as a Fondo Chiuso, already has the approval of Banca d'Italia. Its geographic focus will be on the South of Italy exclusively, and more precisely on the Mezzogiorno region, most of which is currently classified as EU "Objective 1". The fund will invest primarily in SMEs in their development and expansion stages and will spread its investments over different industry sectors such as information and communication technology, tourism, services and manufacturing. The fund is the second professionally managed player focusing primarily on SMEs in the South of Italy to benefit from EIF support.