Italy’s Epic sim is preparing a capital increase aimed at including new partners in the company’s shareholders capital, MF-Milano Finanza wrote yesterday. New shareholders will be Italy’s listed venture incubator Digital Magics and the crowdfunding platform SiamoSoci.
Founded by former Italian well-known banker Andrea Crovetto and other partners, Epic sim is the first platform allowing qualified investors (through minibonds or equity) to fund the growth projects of Italian small and medium-sized enterprises. By signing up, companies find a new, qualified funding channel and investors can analyze investment opportunities supported by a social platform allowing open and transparent discussion of each possible transaction (see here a previous post by BeBeez on Epic’s last minibonds report).
The shareholders meeting actually voted a capital increase from 1.29 to 2.09 million euros to be delivered by the end of December 2019. However EPic’s ceo Crovetto told BeBeez that “the capital increase will be finalized by next Summer and will be open to more investors than the two quoted in MF-Milano Finanza article“.
Crovetto added that “the idea is to open the company capital to investors who can bring synergies for making our business growing. For example we are in talks with a foreign potential investor who is interested to develop Epic’s activity abroad. We are Italians and so we started from Italy but we want to develop a European platform as investors think on an European basis”.
Coming back to synergies, Digital Magics is a partner already of Epic and last November signed an agreement with Crovetto’s platform in order to open a special section of the platform to Digital Magics’ portfolio companies. A similar agreement has been signed last February between Epic and EnVent, an Italian mid-market m&a advisory company and a Nominated advisor (Nomad) on the Aim Italia market.