RIF-T: a platform of investment for research and innovation

26/09/2019
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RIF-T: a platform of investment for research and innovation

18 million euros from Compagnia di San Paolo to add to resources from the European Investment Bank (up to 100 million) and community funds (18 million).

The European Investment Bank and Compagnia di San Paolo today presented RIF – T, a fund dedicated to research and innovation that will mainly be active in Northern Italy.

The fund will be able to count on resources from Compagnia di San Paolo (18 million euros) and from the RIF Fund (18 million euros), which can be used in the form of equity, quasi-equity and debt. The fund will also be able to count on additional resources of up to 100 million in direct loans to companies under the European Investment Bank's Loan Programme.

Compagnia di San Paolo thus puts some of its own assets at the disposal of the territory and adds them to those of other institutional investors in order to favour research and innovation in its reference territory.

The management of RIF-T is entrusted to Equiter, a company owned by Compagnia di San Paolo, which has gained over the years a proven track record in managing EU funds. REF - T will select the projects to be funded through a two-way assessment procedure: first a technical-scientific evaluation phase, followed by a financial sustainability analysis phase. The start of RIF-T operations is expected by the end of 2019.

 

The RIF Fund

 

Equiter is the main financial advisor chosen by the European Investment Bank to  manage 124 million euros (the RIF Fund) allocated by the Ministry of Education and Research for the actions according to Axis II of P.O.N. Research and Innovation 2014-2020 -  https://fondoricercainnovazione.equiterspa.com/

The resources managed by Equiter are mainly directed to southern Italy, however a 15% share of these can also be used outside the target area. These resources then add up and flow into the RIF - T fund, increasing the initial amount.

In its first year and a half the RIF Fund concluded 7 transactions for a total amount of  €36.2 million. The presentation attached shows the project sheets of the RIF Fund's investments in Roboze, Blackshape, Itel, AE Innovation, Protom, NGD and AAV. The last two transactions were conducted in partnership with the Telethon Foundation.

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