Equity Puglia. Eighty million available for startups and innovative companies. Financing agreements between Puglia Sviluppo and the Savings Management Companies presented

Equity Puglia is coming to life , the financial instrument designed to boost the growth of startups and innovative SMEs by increasing their financial solidity. A total of 80 million euros will be available to companies that intend to invest in Puglia, between public and private resources: 40 million for the former, 40 for the latter.

To make such an injection of resources possible, financing agreements were drawn up with the four Savings Management Companies ( SGR ) - Vertis , AVM Gestioni, Eureka! Venture and Indaco Venture Partners - which applied to invest the 40 million in private resources through their own venture capital funds and passed the selection procedure announced by Puglia Sviluppo.

The four agreements were presented today by the Councillor for Economic Development of the Puglia Region, Alessandro Delli Noci , by the President of Puglia Sviluppo, Grazia D'Alonzo, by the Deputy General Manager Andrea Vernaleone and by the representatives of the four Sgr : Antonella Beltrame , co-founder and Investment director of Indaco Venture Partners , Stefano Peroncini , CEO of Eureka! Venture; Alberto Stanghellini , CEO of AVM Gestioni and Renato Vannucci , vice president of Vertis .

At the heart of each agreement are the relationships between the Sgr and Puglia Sviluppo. In fact, two funds come into play for each of the four companies, one principal and the other co- investment : on one side, the Sgr which makes 10 million euros available for investments in Puglia (principal fund), on the other, the one set up by Puglia Sviluppo with 10 million in public resources ( co-investment fund ) which supports each of the principal funds.

But the four SGRs will manage both the main fund and the co- investment fund , which are closely related.

The agreements focus on some details. Among the characteristics of the co-investment fund , first of all that of qualifying as a "venture capital fund", i.e. a fund that invests at least 75% of the capital raised in unlisted companies, in this specific case it must be startups and innovative SMEs that may be in the phase of incorporation, start-up of the activity or development of the product or service. They must already be incorporated and registered, be joint-stock companies (for example Srl or Spa) and, an essential condition, implement their business plan in Puglia through the opening of a local unit that must remain operational in the regional territory.

The aim of the fund is to support the development of the Apulian ecosystem in strategic sectors by supporting medium and long-term development projects of startups and innovative SMEs and thus increasing the financial strength of companies.

Strategic sectors include aerospace, agro-industry, green and blue economy, biotechnology, IT , artificial intelligence, energy transition and digital transformation, mechatronics, robotics, healthcare , innovation applied to infrastructure and industry.

The agreements will be valid until December 31, 2033, while venture capital investments in companies must be made by 2029.

“With the signing of the financing agreements, the Equity financial instrument is being launched in practice ,” said the Councilor for Economic Development of the Puglia Region Alessandro Delli Noci . “This measure, so innovative, enhances the potential of our startups and innovative small and medium-sized enterprises, which will finally be able to make that leap in quality that is impossible in the absence of adequate resources and skills. The available endowment of 80 million euros, between public and private resources, is an enormous injection of liquidity that will have the merit, on the one hand, of making highly innovative companies grow, on the other, of developing innovation and technology in our territory and spreading the use of “venture capital” in Puglia, that is, that risk capital with which an activity with high development potential is financed, despite the investment being risky. This measure, with the other seven already active, completes the dashboard of tools by expanding the audience of companies that want to innovate in Puglia.”

“We are at a pivotal point in the process of the Equity Puglia instrument”, underlined the president of Puglia Sviluppo Grazia D'Alonzo . “Puglia Sviluppo continues, therefore, in the demanding work aimed at offering the Puglia entrepreneurial system new opportunities, putting in place an additional financial instrument that can invest in seed , startup financing , early stage and expansion operations , that is, from the initial phase to expansion, guaranteeing new finance of up to 10 million euros for each operation. For Puglia startups and SMEs it will be a small revolution that will provide the resources for important innovation paths”.

Equity Fund - explained the deputy general manager of Puglia Sviluppo Andrea Vernaleone - does not have as its sole objective that of financially supporting startups and innovative SMEs . The Fund will enhance the innovative potential of both startups from Puglia that will have the opportunity to realize their entrepreneurial project and non-Puglian companies that will be able to find fertile ground in our territory to localize their innovative investments. The Equity Fund has attracted specialized investors to Puglia who for the next few years will operate steadily in our region, consolidating their relationships with the system of universities and research centers; we are certain that it will make Puglia one of the best territories for the development of innovative startups ".

“For us at AVM, it is crucial to enhance the excellence and potential inherent in regional districts: Puglia presents interesting realities in numerous sectors, and for this reason we have already invested in the territory” commented Alberto Stanghellini , CEO of AVM Gestioni. “Our participation in the Equity Puglia Fund strengthens this commitment: venture capital represents a valid alternative to generate sustainable growth opportunities by investing in the skills and sectors of the real economy. The main challenge for Italian SMEs is to innovate their production processes through the implementation of the most modern technologies, enhancing the incredible know-how inherent in companies”.

“We nominated Eureka! Fund for the Equity Puglia instrument because we firmly believe that the region is rich in opportunities in the deep tech and technology transfer, thanks also to the partnerships we have with some of the most important local research centers and universities including the Polytechnic of Bari, Cnr , Iit , University of Bari and Cetma ”, underlined CEO Stefano Peroncini . “After having made 25 investments in strategic technologies enabled by innovation in materials, our goal is to quickly complete and further enhance the portfolio with new investments that can leverage the skills and resources of the Puglia Region”.

"We thank the Institutions for the trust that has been granted to us, we are working for the launch of the Main Fund, on which the launch of the parallel fund Equity Puglia depends. The pipeline of projects that we are examining includes many qualified initiatives coming from Puglia - said Antonella Beltrame , co-founder and Investment director of Indigo Sgr . We firmly believe that collaboration between the public and private sectors is very useful to accelerate the development of innovative projects. We are ready to use our expertise to dialogue with all the project stakeholders, from potential companies involved, to institutions and research centers, and contribute to the growth of innovation in Puglia”. 

For Renato Vannucci , vice president of Vertis and president of the Investment Committee of the funds ' Vertis Venture 6 Digital Sud' and ' Vertis Venture 7 Digital Puglia', "thanks to its geographical location, Vertis has made the majority of its investments in the South, three of which in Puglia, a region it knows well thanks to the agreements in place with the main universities and business incubators. This public-private partnership is among the best functional measures for the development of the territory. Vertis has already managed a similar instrument in the Lazio Region and can therefore 'certify' the significant support for the growth of new entrepreneurial initiatives. Furthermore, it is worth remembering that these are investments by the Puglia Region - and not non-repayable contributions - with the aim of reimbursing the revalued capital".

Savings Management Companies ( Sgr )

There are four Savings Management Companies ( SGR ) that have passed the selection procedure announced by Puglia Sviluppo in 2023 and aimed at collecting proposals for participation with venture capital funds in investment operations in small and medium-sized innovative companies that have development programs in the Puglia region.

Here is a short profile.

AVM Gestioni , a Milan-based Sgr, invests with dedicated funds in the life sectors essentials ( food&beverage , health&beauty , home automation), robotics, cybersecurity and impact finance .

Eureka! Venture, Sgr of Milan, also based in Rome, two venture capital funds, is interested in high-impact technology investments, projects based on scientific research and investments in digital technologies.

Indaco Venture Partners , a Milan-based Sgr , currently manages seven venture capital funds aimed at startups and scalups that innovate in the deep tech , life sciences and digital.

Vertis , a Naples-based Sgr with operational offices also in Milan, manages nine funds, two private equity and seven venture capital, and takes stakes in research projects, spin-offs, startups and SMEs .

Equity Puglia tool works

The Equity Puglia instrument focuses on the operations of four main funds of the Sgr , Savings Management Companies, and as many co-investment funds fueled by public resources made available by Puglia Sviluppo. All the funds are managed by the Sgr and will be able to make investments in newly issued risk capital ( equity ), through the injection of new financial resources into companies.

The regional financial instrument, with a total endowment of 40 million, will be able to bring new capital to startups and small and medium-sized enterprises in Puglia and will activate an additional 40 million euros of private resources, with regional participation limited to 50% of each operation.

Investments in the “target companies” (startups and small and medium-sized innovative unlisted enterprises) will be made pari passu , i.e. under the same terms and conditions between the co-investment fund set up with public resources and the main fund of the specialized manager.

Target companies can be in the process of incorporation, start-up or product or service development phase. They must already be incorporated, be joint-stock companies and implement their business plan in Puglia.