One of the biggest challenges facing business leaders and corporations seeking US investment in Italy is the seeming dissonance between the respective company cultures in Italy and the USA. There is an outdated perception that the traditional Italian private, family-run business that is handed down across generations is incompatible with the US entrepreneur's impulse to grow a company in order to sell it. This week, Alexis Christoforous speaks to private equity firm FSI's Maurizio Tamagnini, whose mission is to bridge this cultural divide in a way that fuses Italian continuity with dynamic US-style growth and the very specific critieria he looks for in family-run companies when making investments. In this wide-ranging Voice of Business interview Alexis covers a lot of ground including FSI's bold investments in fintech, which she writes about here. |
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By Alexis Christoforous Since its launch in 2018, the Italian private equity firm FSI has invested over $600 million in the fintech space, and founder and CEO Maurizio Tamagnini tells The Voice of Business that more investments are to come. “We like it simply because banks need to become much more effective in serving their clients and technology will revolutionize their business,” he said. “So we see for the next 10 to 15 years, a wonderful opportunity in these types of investments.” |
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Fintech refers to the integration of technology, such as blockchain, cloud computing, and big data, into offerings by financial services companies to deliver a better experience to their customers. FSI recently bought a 60% stake in the digital payments arm of Iccrea Banca, creating a new company called BCC Pay, the third largest e-payment provider in Italy. It’s just the latest in a spate of acquisitions FSI has made in Italy’s payment sector. The third largest growth fund in Europe recently reinvested in Italian banking software provider Cedacri, alongside financial data and technology firm ION Group. It also acquired a stake in Italian IT consulting firm Lynx. Tamagnini considers FSI a medium to long term investor in BCC Pay, but is not planning to create a financial services hub with Lynx or Cedacri. He did, however, leave open the possibility of a public listing in the future. Since BCC Pay is debt-free, Tamagnini said it is well-positioned to acquire companies in the banking sector to grow and diversify its customer base. |
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As Chairman of the Supervisory Board of STMicroelectronics, the largest semiconductor chip maker in terms of revenue in Europe, Tamagnini said, “I think that Italy is producing really very interesting niche companies in technology.” He pointed to the recent successful IPO of Italy-based Technoprobe, which went public on the Milan stock exchange with a market capitalization of nearly $4 billion dollars. In addition to investing heavily in technology and fintech in particular, FSI is committed to supporting socially and environmentally responsible companies. It also has stakes in several high profile family-run Italian based companies including the luxury fashion brand Missoni and the cosmetic packaging company Lumson. |
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For the full interview with Maurizio Tamagnini please click on the link below! |
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And...In case you missed earlier articles and interviews from Season 2 you can find them here! |
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Tech Entrepreneur Wants to Make Italy the Next Silicon ValleyAs a serial entrepreneur, Fabrizio Capobianco has successfully founded and sold at least half a dozen tech companies in his decades long career. Now, at 51-years old, he is ready to prime the next generation of entrepreneurs in his home country of Italy. "I want to do something for the country," Capobianco told The Voice of Business. |
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Master Brand Designer On Why Italy Needs a 'Ministry of Beauty'Maurizio di Robilant, President & CEO of Robilant Associati speaks with Alexis Christoforous about his firm's quest to find each company's essence and soul, the importance of having an empathic relationship with his clients, the challenges of selling the idea of Italy to Italians, and his belief that there is a unique competitive identity which gives every country a marketing edge. |
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The CEO of Engineering on How the Metaverse Will Revolutionize work and PlayBy Alexis Christoforous The metaverse may be in its infancy, but Maximo Ibarra, CEO of the Rome, Italy-based digital technology company Engineering is preparing for the future with immersive virtual apps. Ibarra tells The Voice of Business that Engineering is pouring resources into innovative technologies in the world of healthcare, finance, fashion, and retail to guide its clients through their journey into "the digital business transformation." |
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Enel X Way Charges Up EVs for Big Business Partners in the USBy Alexis Christoforous Enel X Way is making a big push to expand its network of electric vehicle charging stations across North America. The global smart e-mobility platform of Italy's Enel Group has partnered with U.S.-based Stable Software to provide businesses and cities with information on where charging stations are needed most. |
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Female CEO Steers Italian E-Mobility Firm from Start-up to Motor Valley LeaderBy Alexis Christoforous In the heart of Italy's Motor Valley, nestled among auto legends Ferrari, Maserati, and Lamborghini, is the electric motorcycle company Energica. One of the world's leading EV motorcycle manufacturers, Energica recently sold a 70% stake in the family-run business to the U-S based electric vehicle company, Ideanomics (IDEX). |
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See you next week! Fernando Napolitano,
Founder and CEO Newest Media |
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