No more size limits to investments by the Italian Government sponsored investment veichle Fondo Strategico Italiano (FSI) in three specific sectors (tourism, agrifood and cultural heritage management), a Decree by the Italian Economy and Finance Minister Pier Carlo Padoan stated last Thurdsay July 10th (download here the press release).
These three sector have been uplifted among strategic sectors as well ad defence, security, transports, communications, energy, insurance, finance, public utilities, research and innovation. For all those sectors size limits to FSI investments do not apply so the fund may invest in SMEs too. As a general rule infact FSI may invest in Italian companies in good health with annual revenues of at least 300 million euros and counting at least 250 employees.
Ceo Maurizio Tamagnini and his team might then compete on the same ground of Fondo Italiano d’Investimento, the other investment veichle sponsored by the Italian Government (with the difference that Fondo Italiano raised the major part of its capital among private investors), As a consequence the two funds will have to coordinate their movements
Moreover, from now on FSI will be able to invest in companies which are not based in Italy but work in strategic sectors and control companies active in Italy with revenues of at least 50 million euros and at least 250 employees.