Innovative-RFK (i-RFK), an industrial holding company listed on Euronext Paris and investing mainly in startups and innovative SMEs, listed its minibond on ExtraMotPro3 last week, as expected, after placing it on the Italian crowdinvesting portal CrowdFundMe.
i-RFK successfully closed the placement on CrowdFundMe, collecting $1.5 million (€1.29 million) out of a maximum target of $5.8 million (€5 million), from institutional investors but also involving for the first time retail investors who meet the legal requirements (with assets over $290,000 (€250,000)). Among the institutional investors of the minibond is also Banca Valsabbina. In total, there are 35 subscribers to this first mixed retail-institutional operation. The offer on the CrowdFundMe portal was launched last July.
Find out more details about the company i-RFK and the placing of its minibond on the Italian crowdinvesting portal CrowdFundMe and read the most important financial headlines of the day with our companion app Born2Invest.
The collaboration between CrowdFundMe and i-RFK started last year
The bond instrument, which has a rating of B1+ (medium-high) assigned by Italian fintech Modefinance (ESMA rating company), has a duration of 60 months and has a yield at maturity of 6% per annum, with interest to be paid through a six-monthly coupon. The issue of the minibond will be used by i-RFK to increase investors’ attention to the holding company. The resources raised by the bond will contribute to the subscription of capital increases in minority shares of startups and innovative SMEs. In this operation, the law firm Nctm, has played the role of deal counsel, as already happened for the minibond on Hal Service, which after the placement on CrowdFundMe and ExtraMot Pro3 has raised $1.16 million (€1 million).
“A successful collaboration between i-RFK and CrowdFundMe, which started last year with the crowdfunding equity campaign reaching an investment target of $2.9 million (€2.5 million) and continued with the placement before and today the listing of the minibond,” said Paolo Pescetto, founder and CEO of i-RFK.
Tommaso Baldissera Pacchetti, CEO of CrowFundMe, added: “The possibility to place minibonds is one of the main novelties for crowdinvesting in 2020. Our portal thus becomes an alternative investment hub offering a full range of financial products, from equity to bond instruments. Companies can thus find capital quickly, which is a key issue, all the more so given the impact on the COVID-19 economy. If we consider the benefits for investors, CrowdFundMe offers the possibility to diversify the portfolio and thus mitigate the overall risk. We remind you that CrowdFundMe was authorized to place minibonds last June.”
i-RFK was founded in 2017 by Paolo Pescetto, Massimo Laccisaglia and Andrea Rossotti
The company was listed on Euronext Access on December 27, 2019, following an equity crowdfunding campaign on CrowdFundMe, which raised $2.9 million (€2.5 million), equal to 23.5% of the capital. i-RFK was born from the experience of Red-Fish Kapital, which has been operating for several years in the field of private equity investments, also in the form of club deals, alongside private and institutional investors and the consulting firm Arkios Italy. i-RFK, rated B1+ by the Modefinance rating agency, has an investment plan that foresees, for the current and next year, the investment of $3.6 million (€3.1 million) in the investee companies, supported by the residual liquidity of the holding company, the issue of the minibond and future capital increases. To date, i-RFK has already invested about $7.57 million (€6.5 million) involving 50 private and qualified investors, obtaining an annual Irr above 30% and estimated at 50% in 2019.
Innovative-RFK currently has 5 subsidiaries: Keisdata; Easy4Cloud; Websolute; Inventis; Microcredit. The latter has raised over $2 million (€1.7 million) in its equity crowdfunding campaign on the BacktoWork platform. The valuation of the holdings of the 5 companies in the portfolio is $13.7 million (€11.8 million), but for listing purposes the value of the latest capital increase has been maintained and therefore $12.2 million (€10.5 million), which spread over the total number of shares (about $10.2 million (€8.79 million) becomes $1.39 (€1.19) per share. i-RFK is a growing company. This is confirmed by the aggregate results: the value of production increased to over $30 million (€26 million) in 2019, compared to $27.6 million (€23.7 million) in 2018 and $19 million (€16.3 million) in 2017.
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First published in BeBeez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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