Business Protection Fund (Fondo Salvaguardia Imprese)

HOW IT WORKS

Invitalia, with the resources of the Fund, makes direct risk capital investments at the following conditions: 

• the equity investments acquired have to be minority ones 
• the overall intervention per individual transaction does not exceed € 30 million 
• the investment transaction is carried out together and at the same time with: 
• the presence of independent private investors that bring at least 30% of the planned resources (in the event of transactions in favour of companies experiencing difficulty not pursuant to European guidelines) 

or 

• pre-existing shareholders that bring at least 50% of the capital increase (in the event of transactions in favour of companies experiencing difficulty not pursuant to European guidelines); 
• the proposing company that guarantees its own contribution equal to at least 25% of small companies, 40% of medium-sized companies and 50% of large companies (in the event of transactions in favour of companies experiencing difficulty pursuant to European guidelines) 
• exit at 5 years, with exit conditions already defined in the investment transaction.  

Invitalia, in addition or as an alternative to the acquisition of the investment, can make investments in quasi-equity. 
 

In particular cases (companies experiencing difficulty pursuant to European guidelines) the managing subject can disburse non-repayable contributions commensurate with the occupational commitments assumed in the context of the restructuring programme.