Investment & Fund Management

October, in collaboration with five Italian Confidi entities and the European Investment Fund (EIF), launched a new €30 million fund aimed at supporting the growth of Italian SMEs under the Juncker Plan. The initiative addresses the specific challenge faced by SMEs in Italy regarding access to affordable financing. By leveraging the InnovFin SME Guarantee Facility, the fund provides eligible SMEs with a reduction in their financing costs, thereby enhancing their ability to invest in innovation and growth.

The fund's first closing was successfully subscribed by five supervised Confidi entities, which are cooperative, non-profit organizations that facilitate credit access for small and medium-sized enterprises. This collaboration aims to promote a financial culture among SMEs and improve their relationships with banks and other financial players, ultimately leading to better financial decision-making.

The impact of this initiative is significant, as it is expected to provide over 65,400 Italian SMEs with improved access to funding, thereby supporting job creation and economic growth. The partnership between October and Confidi exemplifies a systemic approach to innovation in finance, combining public and private resources to enhance the financial ecosystem for SMEs. This project not only offers better funding opportunities for SMEs but also allows existing lenders to access higher-quality companies while maintaining their investment returns.