Following its introduction in March 2019, the National Innovation Fund (FNI) has been officially launched, with the objective of consolidating and multiplying public and private resources dedicated to the strategic theme of innovation through the vehicle of Venture Capital.

The National Innovation Fund is a multi-fund management company (SGR) that will be managed by Cassa Depositi e Prestiti, operating on a market-driven and long-term basis with an initial financial endowment, as provided for in the 2019 Budget Law, of approximately 1 billion euros.

The operational procedures of the FNI involve direct and indirect investments in qualified minority stakes in the capital of innovative companies through generalist funds, vertical funds, or funds of funds, to support startups, scaleups, and innovative SMEs. The aim is to counter the loss and dispersal of talent, intellectual property, and other strategic assets, thereby providing a collective benefit to the national economy.

Investments will be made by the individual FNI funds on a selective basis, in accordance with industry best practices, based on the capacity to generate impact and value for both the investment and the national economy.

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