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Italian Private Equity and Venture Capital Association

Italian Private Equity and Venture Capital Association. Anna Gervasoni. Il mercato del seed e venture capital in Italia. Pavia , 2 7 th May 2002. A.I.F.I. Investment activity by number, companies and amount. - 26 %. A.I.F.I. 2001: % stage distribution of investments. A.I.F.I.

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Italian Private Equity and Venture Capital Association

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  1. Italian Private Equity and Venture Capital Association Anna Gervasoni Il mercato del seed e venture capital in Italia Pavia, 27th May 2002

  2. A.I.F.I. Investment activity by number, companies and amount - 26 %

  3. A.I.F.I. 2001: % stage distribution of investments

  4. A.I.F.I. 2001: % distribution of investments by number of employees 89%

  5. A.I.F.I. 2001: Geographical distribution of investments

  6. A.I.F.I. 2001: Target companies distribution by region

  7. A.I.F.I. 2000–2001: Divestment distribution

  8. A.I.F.I. Fund raising activity (Euro mln)* * Excluding Pan-European funds

  9. A.I.F.I. 2001: Geographic distributionof funds raised on the market

  10. Focus: Early stage High Tech

  11. A.I.F.I. Trend - Number of Seed and Start up investors

  12. A.I.F.I. Trend - Seed and Start up investmentsby number and amount

  13. A.I.F.I. 2001 – Initial rounds vs. Follow on by number and amount

  14. A.I.F.I. Trend - Average invested amountin Early stage (Euro mln)

  15. A.I.F.I. Trend - High tech investment activity by number, companies and amount + 51% N/A

  16. 2001: Stage distribution of high tech investments A.I.F.I.

  17. A.I.F.I. Trend - % of amount and number of investments in high tech companies

  18. A.I.F.I. Trend – Investment activity in high tech companiesby stage (number)

  19. A.I.F.I. Trend – Investment activity in high tech companiesby stage (Euro mln)

  20. A.I.F.I. 2001 –Seed and Start up investmentsby sector(Euro mln)

  21. A.I.F.I. 2001 – Seed and Start up investments by number

  22. A.I.F.I. 2001 - Number of Early stage investmentsby type of investors

  23. A.I.F.I. Trend – Early stage investmentsby type of investors (% number)

  24. A.I.F.I. Evolution of investments (number)in some specific sectors

  25. A.I.F.I. Sectoral distribution of Early stage deals(by number)

  26. A.I.F.I. 2001: Sectoral distribution of high tech investments by number (%)

  27. A.I.F.I. 2001: Geographical distributionof high tech investments (%)

  28. A.I.F.I. 2001: Geographical distributionof high tech investments (%)

  29. A.I.F.I. Italy: Regional Early stage investments distribution by number

  30. A.I.F.I. Italy: Regional high tech investments distributionby number

  31. Focus: The incubation system

  32. The sample • The total sample was made up of 57 players operating on the Italian market subdivided as follows: • 37 incubators linked to Business Innovation Centres (BIC); • 15 incubators located in Scientific and Technological Parks; • 5 university incubators. • Data and information were collected by a three sections questionnaire sent to the sample players • On the total number of active incubators, the response ratio was 86%, representing 38 players on 44. A.I.F.I.

  33. The research evidence • The whole players aim to the promotion of the economic and cultural environment of the territory in which they operate. • On an aggregate level the sample shows the following figures: • over 150.000 m2 of available areas for incubation activities; • about 1.000stations available for new initiatives; • about 200 active employees within incubators; • about 1.180 incubated firms on Dec. 2001; • 500 new firms incubated per annum, on average. A.I.F.I.

  34. The research evidence (cont’) • On a geographical level the survey evidences the following figures: • 76% of players operates exclusively in their own region; • 11% of the total sample is active on a national level; • 13% carry out incubation activity even outside Italy. • Referring to geographical localization, the sample is subdivided as follows: • 54% of incubators is located in Northern Italy; • 14% is in the Centre; • 32% is located in the South. A.I.F.I.

  35. The figures A.I.F.I.

  36. The figures (cont’) A.I.F.I. *average of maximum number of years

  37. A.I.F.I. achievements • A.I.F.I. standard Information Memorandum “Guidelines” for closed-end funds reserved to qualified investors • Bank of Italy regulation (July 19th 2001) for Management Companies (SGR) deicated to small VC funds A.I.F.I.

  38. A.I.F.I. future objectives • Fiscal revision of closed-end funds: carried interest taxation • Legal revision of “honour and professional requirements” of managing directors • Fund raising strengthening: pension funds, Fund of funds • Promotion of public incentives for VC • Contribution for start up costs of management companies (SGR) A.I.F.I.

  39. www.aifi.it

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