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South Italy attracts funds

Banca Promos is the main sponsor of the fund, which is being managed by Italian fund manager Vegagest and the team will also be courting investment from other banks and insurance companies.

The fund will make between 10 and 15 investments of between €1m and €4.5m in small businesses with turnover of between €6m and €8m.

The region of Campania will be the main focus of the fund as the team is based in Naples, but the fund will also look at opportunities in Sicily and the Puglia region.