EIF supports Opyn’s Magellano fund focused on Italian SMEs

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  • Magellano, a new investment fund managed by ART SGR, is dedicated to institutional investors and offers loans to small and medium-sized Italian companies.
  • The EIF is contributing 30 million euros to the Fund to facilitate fundraising from private investors.
  • The EIF contribution is supported by the “Tailored Private Credit for SMEs” program of the European Fund for Strategic Investments (EFSI).

Milan, December 13, 2021 -The European Investment Fund (EIF) will support the new Magellano fund managed by ART SGR. With the support of the Private Credit Tailored for the SME program of the European Fund for Strategic Investments (EFSI), which is part of the European Union’s Investment Plan for Europe, the EIF will invest € 30 million in the funds.

Magellano is a new closed-ended alternative investment fund dedicated to institutional investors. Its first closing reached 75 million euros, with an overall target of 200 million euros. The Fund is managed by ART SGR, the asset management company of Opyn, an Italian fintech group for corporate loans.

The Magellano fund proves that fintech can be a valid alternative financing instrument for companies, especially in the context of the COVID-19 crisis and its impact on the liquidity of small and medium-sized companies. The Bank of Italy calculated that between the end of 2011 and March 2019, the stock of bank loans to businesses had decreased by around 250 billion euros, or by more than 25%.

A direct lending fund like Magellano is an alternative channel for injecting liquidity into the entrepreneurial world, while direct lending to small and medium-sized businesses also represents an attractive asset class for professional investors.

We are delighted to support the Magellano fund managed by ART SGR. This represents an excellent opportunity to facilitate access to finance for small and medium-sized Italian companies, which have been strongly impacted by the economic crisis generated by the pandemic. The EIF’s commitment has helped diversify and broaden the Fund’s investor base, attract new investors and mobilize additional third-party resources.,” noted FEI Director General Alain Godard.

Economic Commissioner, Paolo Gentiloni, noted: “I welcome this financial agreement between the EIF and ART SGR, which is supported by the investment program for European SMEs. The new Magellano fund will offer an alternative source of financing to Italian small and medium-sized businesses affected by the COVID-19 crisis. This is excellent news for the Italian entrepreneurial world, which will benefit from this agreement to boost its activities and its way out of the crisis.. ”

The objective of this fund is to generate income andthe valuation of invested capital from a medium-long term perspective, which is the only one consistent with the needs of SMEs – declared Cesare Santacroce, Managing Director of ART SGR and Head of Credit Risk at Opyn. – This benefits investors and most Italian businesses, especially micro and small ones despite their thirst for cash in the post-Covid era. This is a pioneering operation because it is carried out by a fintech company, and the fact that it is supported by the EIF gives us credit in the European financial arena. In addition, that an institution supports fintech and sees it as a channel through which the real economy can be effectively financed is an important signal.

Opyn was assisted by Mediobanca – Banca di Credito Finanziario SpA, through its Markets Division, for the investment of funds and by the law firm Alpeggiani for legal and regulatory aspects. CACEIS Bank has been appointed as custodian and administrator of the fund.

Background information:

the European investment fund (FEI) is part of the European Investment Bank Group. Its main mission is to support European micro, small and medium-sized enterprises (SMEs) by helping them access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, the EIF promotes the EU’s goals of innovation, research and development, entrepreneurship, growth and jobs.

The European Fund for Strategic Investments (EFSI) is the main pillar of the Investment Plan for Europe. It provides first loss guarantees allowing the EIB Group to invest in riskier projects. The projects and agreements approved for EFSI funding have so far mobilized € 546.5 billion in investments, benefiting more than 1.4 million SMEs. In Italy, total EFSI funding so far stands at € 13.3 billion and is expected to trigger € 77 billion in additional investment.

Opyn, former BorsadelCredito.it, is the first platform that gives businesses quick access to credit and simplifies the work of banks. Born in 2012 as an online loan broker, today – thanks to its dematerialized and very innovative technology – Opyn offers, on the one hand, financing in 24 hours and cash in a few days to Italian SMEs, and, d on the other hand, his software as a service financial and corporate realities who wish to support their customers in an immediate and intelligent way thanks to artificial intelligence and machine learning. Opyn has loaned more than 307 million euros; in the first 6 months of 2021, it supported 563 companies with 154 million euros in loans, becoming the leader in SME credit in Italy.

Mediobanca is a diversified listed banking group. Leader of the Italian investment banking market, with solid experience in credit, advisory and capital markets activities, and with a significant footprint in Southern Europe, the Group is also today an Italian player in leader in consumer banking and a quality operator in wealth management. , serving Influential & Premier and Private & HNWI customers. An established reputation based on professionalism and discretion, coupled with solid capital and quality, make Mediobanca the ideal partner of choice for companies wishing to expand in Italy and Europe.

Press contact:

Opyn Press Office

[email protected]

Ir̬ne Longhin Р+39 329 7816778

Elisa Giuliana – +39 338 6027361

Sabrina Barozzi – +39 333 6158644

FEI:

Lorenzo Squintani, Phone. : +352 691 285 772, [email protected]

Website: www.eif.org – Press office: +352 4379 21000 – [email protected]

follow us on Twitter@eif_eu

European Commission:

Flora Matthaes, tel. : + 32 2 298 39 51, [email protected]

Website: www.ec.europa.eu/invest-eu

Follow us on Twitter @EU_Commission #investEU



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