Fasanara Capital has launched a new €250m (£213m) fintech fund to invest in working capital financing solutions for small- and medium-sized enterprises (SMEs) across the EU.
The launch was supported by the European Investment Fund (EIF), which made a “cornerstone” investment in the fund.
According to a statement by the European Commission, the fund will seek to invest in SMEs representing more than 100,000 jobs across Europe.
This is in line with the EIF’s remit to foster private institutional investment for market-based funding solutions for European SMEs and small mid-caps.
“It is important that businesses have access to tailor-made funding solutions that help them recover from the pandemic and kick-start their activities,” said Valdis Dombrovskis, executive vice-president for ‘An Economy that Works for People’ at the European Commission.
“I am glad that with the EFSI Private Credit Tailored for SMEs programme, we can do exactly that: support alternative sources of financing that help to boost jobs and growth in Europe.”
Francesco Filia, co-founder of Fasanara Capital, noted that the asset manager is now active in 25 countries globally, but with a key footprint in the EU.
“We help bridge the gap between credit-starved SMEs and European institutional investors willing to support them, through the use of advanced technology, in ways that are sustainable, equitable, transparent and empowered with data,” he said.
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