Financial Products
CDP Equity manages EUR 466 million of InvestEU guarantee, allocated across three different financial products, and cover three policy windows. Specifically, the product supporting venture capital in Italy for research, innovation, and digitalisation (CDPE RIDW Intermediated Equity Financial Product) accounts for approximately EUR 312 million; the product dedicated to sustainable infrastructure (CDPE SIW Intermediated Equity Financial Product) for approximately EUR 95 million; and the product aimed at supporting the development and growth of innovative SMEs in Italy (CDPE RIDW/SMEW Intermediated Equity Financial Product) for approximately EUR 59 million.
Below is a detailed overview of the financial products:
The CDPE RIDW Intermediated Equity product is designed as an instrument to facilitate indirect equity investments to support the Venture Capital market under the Research, Innovation and Digitisation Window. To be eligible, underlying investments must be in line with the policy objectives specified in the relevant Product Schedule.
Policy objectives and eligibility criteria: Find out more
The proposed operation consists of an Investment Platform co-funded by CDP Equity and the Ministry of Enterprise and Made in Italy (MIMIT) - formerly the Ministry of Economic Development (MiSE) - that aims to bridge the gap between the Italian Venture Capital market and its European peers.
The Investment Platform includes four funds launched between 2021 and 2022: Acceleratori, Tech Transfer, Evoluzione and Corporate Partners I. These funds are specifically designed to support the Italian start-ups throughout their life cycle.
CDP Equity selected the financial intermediary based on its suitability for establishing an investment platform dedicated to Venture Capital, aimed to bolster the currently developing Italian VC market.
Information on Financial intermediaries
Information on Final Beneficiaries
Please find in the table below the list of Final Recipients that received a Final Recipient Transactions with a principal amount of at least EUR 500 000 or equivalent, pro quota CDP Equity (reference date: 31/12/2024).
The CDPE SIW Intermediated Equity product is designed to facilitate indirect equity investments targeting green and digital infrastructure. Currently, under the SIW, CDP Equity presented one operation where it co-invests in the Pan-European “Marguerite III” fund, four other National Promotional Institutions - KfW (Germany), CDC (France), ICO (Spain), BGK (Poland), and the European Investment Fund (EIF).
To be eligible, underlying investments must be in line with the policy objectives specified in the relevant Product Schedule.
The European Investment Fund (EIF), as a co-investor in the fund, chose the financial intermediary through a Call for Expression of Interest opened on 13 April 2022, meanwhile, for PIMCO EDCO, the selection was made directly by CDP Equity, as required by the Guarantee Agreement.
The CDPE RIDW/SMEW Intermediated Equity product is a financial instrument designed to support indirect equity investments aimed at fostering the growth of innovative SMEs in Italy. It falls under the Research, Innovation and Digitisation Window and the SME Window of the InvestEU programme. This product was included among the financial instruments managed by CDP Equity following the signing of the second amendment to the Guarantee Agreement in March 2025.