• Since 2007, the Foundation has committed €179 million to social impact initiatives supporting the development of Piedmont and the Aosta Valley.
• Among the initiatives included in the new Strategic Plan is the Foundation’s investment in Italy’s first Search Fund dedicated to supporting generational succession in SMEs.

A total investment of €92 million over three years to strengthen the competitiveness of the region, support major economic and social transitions, and foster inclusive and sustainable growth.

This is the core of the Strategic Plan of Fondazione Sviluppo e Crescita CRT, the impact-oriented entity of Fondazione CRT, which has identified support for the continuity of small and medium-sized enterprises among its priorities through an investment in Italy’s first fund dedicated to Search Funds.

As a long-term investor, Fondazione Sviluppo e Crescita CRT aims to strengthen the economic and social fabric of Piedmont and the Aosta Valley through innovative financial instruments capable of combining economic sustainability with social impact. Established in 2007 by Fondazione CRT, the Foundation operates through impact investing tools—including investment funds, equity stakes, bonds and other financial instruments—to support socially responsible and financially sustainable projects.

Since its establishment, it has committed approximately €179 million to social impact initiatives across three main areas: urban and social regeneration, innovation and startups, and economic and social development.

Launched in 2025 with an initial allocation of €30 million and set to reach a total of €92 million by 2028, the new Strategic Plan represents the largest allocation of resources within Fondazione CRT’s multi-year programming and marks a significant scaling-up of Fondazione Sviluppo e Crescita CRT’s activities.

The Plan aims to address some of the region’s key challenges through dedicated actions focused on social housing and community regeneration, with investments in community-use properties, affordable housing projects for young people and vulnerable elderly individuals, and initiatives for the development of neighbourhoods and small towns; on innovation and business growth, through acceleration programmes, technology transfer and strategic partnerships supporting companies throughout their lifecycle—from startups to scaleups—and attracting talent from Italy and abroad; and on economic and social development, through impact finance tools such as specialised funds, microfinance institutions, social private equity, social bonds and securitisation transactions supporting the productive system.

“Fondazione Sviluppo e Crescita CRT is one of the instruments through which Fondazione CRT interprets the evolution of contemporary philanthropy,” said Anna Maria Poggi, Chair of Fondazione CRT. “It is a model that combines philanthropic purpose with investment capacity to generate long-term impact and support territorial development. Fondazione CRT was among the pioneers in Italy in establishing a dedicated impact investing vehicle, anticipating an approach that is now increasingly widespread. In this spirit, we have strengthened the Foundation’s path with a €92 million strategic plan aimed at creating the conditions for economic development and social well-being to grow together for the benefit of the communities of Piedmont and the Aosta Valley.”

“Since the nineteenth century, our region has been home to extraordinary entrepreneurs capable of combining global vision with profound social and human impact on local communities,” said Cristina Di Bari, Chair of Fondazione Sviluppo e Crescita CRT. “Today, our Foundation renews this spirit for the twenty-first century through innovative financial instruments, with a clear objective: safeguarding the future of our SMEs, retaining value within the territory and strengthening a business culture that has always linked economic growth with social well-being.”

Generational transition in SMEs

One of the most significant challenges facing the competitiveness of Italy’s productive system concerns succession in small and medium-sized enterprises. To address this issue, Fondazione Sviluppo e Crescita CRT will invest in ETA Fund I, managed by Eureka! Venture SGR, the first institutional fund in Italy dedicated to the Entrepreneurship Through Acquisition (ETA) segment through Search Funds.

The model provides “patient capital” to support high-potential young entrepreneurs—the so-called Searchers—who take over companies and assume operational leadership as new CEOs, ensuring continuity with the founder’s vision while relying on the strategic support of a Board of Directors composed of the fund’s investors.

Data from the Italian Search Fund Observatory of the Politecnico di Milano and territorial analyses conducted by Eureka! Venture confirm the relevance of this instrument for the local economy. In Piedmont, more than 12,600 SMEs are expected to undergo generational succession processes over the next five to ten years. Research has identified an initial pool of 1,086 family-owned businesses with strong economic fundamentals, revenues between €5 million and €50 million, owners aged over 50, and particularly high profitability.

Approximately 30% of companies led by entrepreneurs over the age of 60 have no identified successor. In these cases, the Search Fund model offers a concrete solution to prevent the loss of expertise, declining competitiveness or the closure of healthy businesses deeply rooted in the territory.

Alongside business continuity, the Fund aims to generate measurable economic and social impact by preserving existing jobs and creating new qualified employment through growth and industrial development pathways. The initiative is also expected to activate significant financial leverage: against the initial investment, a further €65–70 million in private and banking capital is expected to be mobilised, with a multiplier effect between 12 and 14 times the invested resources, benefiting strategic sectors for Piedmont such as automotive, logistics, packaging and jewellery.

The Strategic Plan and the Search Fund model will be explored in greater detail during the public event “Generational Transition in SMEs: Capital and Expertise. Search Funds as a Tool to Support the Future of Businesses”, taking place today, Thursday 18 June, at 5 p.m. at Binario 3, OGR Torino.