UpsideTown, Crowdinvesting Platform on Real Estate and Green Energy Projects, Kicks Off

PRAXI Group, an international consulting firm with offices in Italy and abroad, has invested in the share capital of UpsideTown, a crowdinvesting platform, reaching 50 percent of the capital (the share capital turns out to be €300,000).

Founded from an initiative of Luigi Ucci, Head of the Valuations and Advisory division PRAXI Rome, as well as CEO of the fintech, the Company intends to position itself in the Italian crowdinvesting market with an innovative business model in which the digital process, based on big data analysis and artificial intelligence borrowed from the PRAXI Group, supports the analysis and selection of individual opportunities.

The platform offers will be based on diversification and product innovation, developing two specific business lines: real estate and renewable energy.

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Real Estate

As far as real estate is concerned, UpsideTown aims to select transactions with a diversified risk profile, asset class, and geographic distribution: from the hotel segment to industrial, high street retail, without neglecting residential, including emerging declinations, namely student housing and senior housing. The campaigns that will be published on the portal will also contemplate investments with a multi-year holding period, in order to intercept the needs of those who will place their crowd investments within a PIR mandate, taking advantage of the tax benefits typical of the instrument.

Green Energy

A specific business line will also be dedicated to green energy, with the aim of actively supporting the country’s energy transition and responding to investors’ growing attention to sustainability and social responsibility intangibles in their portfolios.

The portal will also finance the development of Renewable Energy Communities throughout Italy, aggregating a network of players: associations, operators, investors, entrepreneurs, and local authorities.

The private equity fund

In this regard, the company is in the process of launching on the platform the placement of shares of a private equity fund, managed by P&G SGR, which will build photovoltaic, hydroelectric, and biomass plants throughout the country and finance energy communities.

The fund’s funding target will be €50 million and will have a six-year term extendable to 10. The placement will take place through the portal in tranches not exceeding €8 million, as per current Consob regulations, and will be “Pir alternative compliant,” thus allowing it to take advantage of the planned exemptions and incentives on green investments.

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(Featured image by jwvein via Pixabay)

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

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