CDPE RIDW Intermediated Equity
Venture Capital Development
Supports the growth of the Italian venture capital ecosystem through indirect investments in funds dedicated to startups and innovative enterprises.
CDP Equity for the InvestEU Programme
CDP Equity is an implementing partner of the InvestEU programme. Since April 2022, it has been accredited to manage European Union programmes under delegated management within the 2021–2027 Multiannual Financial Framework (MFF).
The Programme
InvestEU is the European Commission’s programme to support growth, competitiveness, and employment in the EU over the 2021-2027 period. Through guarantees exceeding €26 billion and technical assistance tools, the programme aims to mobilise approximately €372 billion in public and private investment across four priority areas to stimulate innovation, sustainability, and job creation in Europe.
Research, innovation and digitalisation
Sustainable infrastructure
Small and medium-sized enterprises
Social investment and skills
The Role of CDP Equity
Since April 2022, CDP Equity has been accredited as an Implementing Partner for the delegated management of EU programmes under the 2021–2027 Multiannual Financial Framework (MFF).
It participated in the first InvestEU Call for Expression of Interest (CEoI) the procedure through which the Commission allocates resources among Implementing Partners other than the EIB Group and in October 2022 signed an Agreement with the Commission marking its entry among the managers of European resources for equity investments.
The agreement initially provided a guarantee of up to €312 million to support €520 million in investments in Italian venture capital. It was subsequently expanded to include interventions favoring the development of sustainable infrastructure and SMEs active in the research, innovation, and digitization sectors, bringing the total value of managed guarantees to €645 million and activatable investments to €1.08 billion.
Figures
645 € Mn
Guarantees managed by CDP Equity
1.08 € Bn
Activateable investments
3
Products
Our InvestEU Products
We manage InvestEU guarantees through three financial products dedicated to venture capital, infrastructure and SMEs.
CDPE RIDW/SMEW Intermediated Equity
Sustainable Infrastructure
Supports investment in green and digital infrastructure, contributing to the sustainable transition and the modernisation of Italy's economy.
CDPE RIDW/SMEW Intermediated Equity
Innovative SMEs
Supports the growth of SMEs operating in the fields of research, innovation and digitalisation, including through investments at the European level.
Key Milestones
- December 2023: Signing of the first amending agreement, increasing the EU guarantee by €60 million to support investments in the pan-European Marguerite III fund, with a focus on green and digital infrastructure.
- March 2025: Signing of the Second Amending Guarantee Agreement, under which CDP Equity secured additional resources following its participation in the second Call for Expressions of Interest (CEoI) in April 2024. The new resources support investments in sustainable infrastructure and a new financial product aimed at SMEs operating in research, innovation and digitalisation, including through pan-European investments.
- October 2025: Signature of the Third Amending Guarantee Agreement, increasing the total EU guarantee available to CDP Equity to €612 million.
- September 2026: following the signing of Amendment No. 4 to the Guarantee Agreement, the guarantee amount was further increased to €645 million.
In total, CDP Equity manages €312 million for the development of Venture Capital, €150 million for sustainable infrastructure, and €183 million for SMEs and innovation.
