SDUF Green Tech is a fund of funds for innovative technologies promoting sustainability and climate action.
Its target size of €250 million will unlock over €1 billion of green investment.
The initiative's anchor investor is Cassa Forense, which is providing €40 million. The EIF has contributed an additional €20 million.

The European Investment Fund (EIF) launched a cutting-edge financial product backing innovative new technologies aiming to combat climate change at the headquarters of Cassa Forense today.

The fund of funds — Sustainability Development Umbrella Fund (SDUF) Green Tech — will act as a new tool for institutional investors and make a major contribution to the green tech sector, which has reached exponential market maturity in the last 15 years.

SDUF Green Tech plans to provide institutional investors with direct access to the venture capital and private equity ecosystem. The portfolio is expected to grow substantially, including over ten funds and more than 150 partner companies.

With an expected pipeline of over €1 billion, SDUF Green Tech and its focus on climate and environmental investment is the most remarkable strategy for supporting green investment in Europe.

“The experience and tenacity of the EIF have succeeded in turning the challenges of climate and environmental change into an incredible investment opportunity in the form of SDUF Green Tech,” said EIF Chair and EIB Vice-President Gelsomina Vigliotti. “This sizeable financial support for ambitious technological solutions once again shows how the European Union is spearheading global efforts to change course and make our future greener and more sustainable.”

“Cassa Forense wants to play its part in developing a sustainable future by acting as anchor investor in this important project,” explained Cassa Forense Chairman Valter Militi. “Cassa Forense has already undertaken several initiatives aiming to foster a culture of sustainability among its members (all 240 000 Italian lawyers). It has chosen to focus on pursuing the 17 United Nations Agenda 2030 Sustainable Development Goals, namely numbers 7 (affordable and clean energy) and 13 (climate action). The new investment proposed by the EIF will enable us to strengthen our commitment to achieving these goals and to combine financial return with environmental, social and governance objectives.”

SDUF Green Tech is addressing the limited availability of capital for European technology companies by channelling venture capital and private equity in the climate and environmental spheres. Cassa Forense has understood this opportunity and taken it onboard, becoming the anchor investor for the entire initiative with an initial investment of €40 million to support technological innovations that will contribute to a drastic reduction in carbon emissions in Italy and across Europe.

The new fund of funds is seeking to direct investment to thematic projects in line with the United Nations Sustainable Development Goals, such as renewable energy, maritime biotechnology, regenerative agriculture, technological solutions to prevent pollution, and circular economy initiatives aiming to transform waste into an energy resource. Investors are now leading the way by playing the key role of catalysts for green and sustainable change.

The financial product is being supported by expert advice from the EIF, a pioneer in the strategic management of private equity and venture capital in the sustainability sector, with over €34 billion of outstanding financial commitments.

Background information

EIF

In 2022, the EIF provided over €9 billion to finance small businesses and green projects, aiming to unlock around €97 billion in investment to promote climate neutrality, the digital transition of European industries and the competitiveness of EU entrepreneurs. Against the backdrop of challenging economic prospects for 2023, the EIF intends to make progress with the InvestEU programme, REPowerEU and other initiatives, such as the European Tech Champions Initiative.

Cassa Forense

Cassa Forense is the national providence and assistance fund with which all Italian lawyers are registered. The financial year ending 31 December 2021 saw record results in terms of operating surplus (+38.5%) and equity, which exceeded €15.2 billion compared to €13.8 billion in the previous financial year. In 2022, Cassa Forense allocated around €70 million of welfare to support members and their families, against the backdrop of the ongoing crisis caused by the pandemic.

Press contact

EIF: Lorenzo Squintani | l.squintani@eib.org, tel.: +39 366 57 90 312
Website: www.eib.org/press — Press Office: +352 4379 21000 — press@eib.org

Cassa Forense: Nicoletta Appignani | ufficiostampa@cassaforense.it, tel.: +39 331 14 85 613
Website: www.cassaforense.it