Innova Venture is born
INNOVA Venture is born, the regional fund managed by Lazio Innova which incorporates and innovates the good practices of the previous POR I.3 Fund, investing directly in the risk capital of the Lazio companies. The transactions will be carried out together with private and independent co-investors with respect to the target companies. Compared to the previous POR I.3 Fund, INNOVA Venture introduced the possibility to associate, in the investment round in which it participates, Equity Crowdfunding campaigns.
Twenty million euros put into the field, therefore, from the Lazio Region to the disposition of the start-ups and small and medium-sized enterprises of Lazio that need an injection of capital to grow and develop on the market. "A new opportunity to develop the new model of regional development", according to Lazio Region President Nicola Zingaretti.
The recipients of the fund are small and medium-sized enterprises that must not have operated in any market, which have not made their first commercial sale for over 7 years or require investments in equity and / or quasi-equity for amounts above the average of their turnover in the last 5 years. And to promoters (natural or legal persons) of SMEs to be formed after the resolution of the Investment Committee and before the effective co-investment.
Innova Venture's objective will therefore be to develop the venture capital offer in Lazio for investments in risk capital of start-ups and SMEs located, or wishing to locate, in the Lazio region with a leverage effect on private co-investor capitals, also through authorized equity crowdfunding platforms.
The minimum investment of the private co-investor will have to be, depending on the case, 30%, 40% or 60%. The proposals will be processed by Lazio Innova, while the valuation and related investment, management and disinvestment decisions will be made by an independent Investment Committee with consolidated experience in venture capital investments. It will be this body that will select the investments based on the expected financial returns and according to commercial logics.
Innova Venture joins the important regional instrument currently operating in the sector, Lazio Venture, the program that fielding 56 million euros attracting additional private capital for at least 37 million to invest in venture capital funds, managed by professional operators who intend to invest in Lazio.
The submission of proposals, complete with a 5-year business plan and an appropriate expression of interest by at least one co-investor concerned, is subject to obtaining the "first refusal" of the funds co-financed by LAZIO Venture. The proposals must be presented from 12.00 on 18 September 2018 exclusively through Pec after having filled in the appropriate form on the GeCoWEB platform (www.lazioinnova.it/gecoweb).