Connect with us

Crowdfunding

Red Fish LongTerm Capital collects €6.17 million in equity crowdfunding on Opstart

Red Fish Long Term Capital is a holding company that invests in the real economy, created to solve the imbalance between the supply of private capital and the demand for support from SMEs with an Ebitda under $12 million (€10 million). The company has recently closed a successful crowdfunding campaign on Opstart, raising $7.44 million (€6.17 million).

Published

on

The Italian investment company RedFish LongTerm Capital spa (RFLC) has raised $7.44 million (€6.17 million) through the Italian equity crowdfunding platform Opstart. The news was recently announced in a post on Linkedin by the company’s founder and CEO Paolo Pescetto.

The equity crowdfunding campaign had a minimum collection target of $600,000 (€500,000) and a maximum target of $9.6 million (€8 million). This is the second-largest campaign, in terms of collection, ever concluded in Italy after that of Fin-Novia (also an investment vehicle) that last March had collected $9.16 million (€7.6 million).

Find more details about the crowdfunding campaign that RedFish LongTerm Capital just closed and stay on top of the market with the latest financial headlines, with our companion app Born2Invest.

The RFLTC campaign was launched last July

The capital raised will contribute, in combination with bank leverage, to the minority or majority acquisition of the identified companies. Currently, RFLTC states that it has already identified three target companies characterized by significant revenue growth, excellent margins and low/nil financial debt.

Red Fish Long Term Capital is a holding company that invests in the real economy, created to solve the imbalance between the supply of private capital and the demand for support from SMEs with an ebitda under $12 million (€10 million). RFLC gives the possibility to choose further deal-by-deal investments to the shareholders of the holding company. The latter was born from the experience of Red-Fish Kapital spa and Innovative-RFK.

Red-Fish Kapital is a company that since 2012 operates in the field of private equity investments, with investments of about $60 million (€50 million) in club deal mode. It was established with the initial aim of continuing the investment activity of the holding company Evolution Investment spa (Fondo RFK I), a company founded in 2007 by a group of entrepreneurs including Paolo Pescetto, president of Arkios Italy, m&a advisory boutique and professor at the Polytechnic University of Milan and the University of Genoa. Red-Fish Kapital has in its portfolio: Cecchi Delgea srl, owner of the historic Italian brand Gelati Cecchi 1936; Pistacchio spa, a Sicilian company that produces and markets semi-finished products derived from both Bronte DOP pistachio and almonds and hazelnuts, as well as a wide range of typical pistachio-based specialties; Gedy, manufacturer of bathroom accessories with international presence and production plants in China; Asco Filtri, Italian company active in the production and marketing of filtration systems and filtering units.

SEE ALSO  Linneo wipes out the red numbers with its first medical cannabis harvest

In 2017 Paolo Pescetto, Massimo Laccisaglia and Andrea Rossotti founded the investment vehicle dedicated to startups and innovative SMEs Innovative-RFK (i-RFK) spa. Innovative-RFK landed on Euronext Access on December 27th, 2019, closing the last step of the crowd listing process started in September 2019 with an equity crowdfunding campaign on the CrowdFundMe platform, which raised $3 million (€2.5 million), equal to 23.5% of the capital.

To date, i-RFK has already invested about $7.8 million (€6.5 million) involving 50 private and qualified investors, achieving an annual Irr above 30% and estimated 50% in 2019. Innovative-RFK currently has 5 subsidiaries: Keisdata; Easy4Cloud; Websolute; Inventis; Microcredit of Enterprise. The latter has recently 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 $14.2 million (€11.8 million), but for the purposes of listing, the value of the latest capital increase has been maintained and therefore $12.6 million (€10.5 million), which spread over the total number of shares (about $10.6 million (€8.79 million)) becomes $1.43 (€1.19) per share.

__

(Featured image by Adeolu Eletu via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

J. Frank Sigerson is a business and financial journalist primarily covering crypto, cannabis, crowdfunding, technology, and marketing. He also writes about the movers and shakers in the stock market, especially in biotech, healthcare, mining, and blockchain. In the past, he has shared his thoughts on IT and design, social media, pop culture, food and wine, TV, film, and music. His works have been published in Investing.com, Equities.com, Seeking Alpha, Mogul, Small Cap Network, CNN, Technology.org, among others.