(ANSA) – TURIN, MARCH 29 – Exor, the Agnelli family holding company, launches an initiative dedicated to Italy to support newly established companies (in the “seed” phase), thus helping the country’s most promising entrepreneurs to build new generation of large enterprises. Exor Seeds, Exor’s arm dedicated to venture capital, will invest in startups in the seed and pre-seed phase by offering a capital account loan of 150,000 euros, with a very rapid process, advantageous contractual terms for the entrepreneur and no request for representation in the board of directors of the newly formed companies. In exchange it will take a share that will be between 5 and 7% approximately.
The new initiative is part of Exor’s long entrepreneurial tradition in support of innovation. In line with its goal of “building great enterprises”. Exor will help young entrepreneurs develop new innovative companies. The program aims to unleash the great potential of the Italian ecosystem of technology, which is growing rapidly, helping the country to play a role proportional to its economic dimension, also thanks to the large pool of talent at its disposal.
“How important is speed in the business world? It depends, but it certainly is decisive when it comes to financing new entrepreneurial ventures at an early stage. In addition to being fast, we must also accept the risk of failure, because the next Italian unicorn will be born precisely from a mix of courage and energy. Something that the Italian entrepreneurial system has lacked, and that Exor Seeds now intends to change “explains Diego Piacentini, president of Exor Seeds.
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Source: Ansa
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