European leader in asset servicing CACEIS has been selected by Bologna-based Fondazione Golinelli,Fondazione di Sardegna and Antonio Falcone as custodian and fund administrator for the Utopia project: the first Simple Investment Company (SIS) to commence activity in Italy. SIS is the new investment structure to support the development of Italian start-ups and SMEs. In particular, the Simple Investment Company aims to directly support small and medium-sized enterprises not listed on regulated markets that are in the early stages of their development
Utopia SIS is the first of its kind in the Life Sciences sector and aims to provide development capital for investment into medical-scientific research projects. Currently in Italy, securing capital for research and innovation support is difficult, however the Utopia SIS has a wide-ranging objective: to invest strategically in projects with a high growth rate, and providing a global support system that offers entrepreneurship expertise and access to a consolidated network.
“Novavido S.r.l., an innovative start-up of the Italian Institute of Technology (IIT) in Genoa, is not only the first investment of Utopia SIS, but also a major research and development project. We will invest €1.4 million immediately and as planned another €4.5 over the coming 24-30 months, in line with the well-defined steps of our growth and development roadmap “, said Antonio Falcone, Executive Vice President of Utopia SIS.
He added, “With CACEIS, we have found an asset servicer willing to support us on a trajectory as innovative as the SIS, bringing their experience in servicing alternatives players, both in terms of custody services and fund administration. They are a solid partner to help us tackle this new path for the Italian market”.
Founded in France in 2005 CACEIS is the asset servicing banking group of Crédit Agricole and Santander dedicated to asset managers, insurance companies, pension funds, banks, brokers and corporate clients. Through offices across Europe, North and South America, and Asia, CACEIS offers a broad range of services covering execution, clearing, forex, securities lending, custody, depositary and fund administration, fund distribution support, middle office outsourcing and issuer services. With assets under custody of €3.9 trillion and assets under administration of €2.1 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide.
CACEIS takes part in Crédit Agricole Group’s Corporate Social Responsibility (CSR) initiative and has been awarded a Gold rating from the independent French CSR rating platform EcoVadis. It runs a responsible and innovative social policy focused on employment, career development and the promotion of equal opportunity.
CACEIS Italy offers a full range of outsourced services to Italian asset management companies and foreign AIFMs managing alternative funds under Italian law.