Organisation profile

History:
Founded pursuant to Law n° 59 of 31 January 1992, Coopfond has operated since 1993 as a joint stock
company with a share capital of Euro 120,000.
In twelve years of activity, the fund has accumulated (at date of last financial statements) a total of Euro
240 million and has agreed 380 investment files for a total investment of Euro 318 million. This
investment in equity allowed the financed co-operatives to invest Euro 1508 million and preserve or
create more than 15341 jobs.
Structure:
This fund is generated by the collection of 3% of the annual profit made by all Italian co-operatives
member of Legacoop (Lega Nazionale delle Cooperative e Mutue) and the residual worth of co-operatives
who closed down.
The company is supervised by the Italian Ministry of economic development.
By law, Coopfond may finance Italian co-operatives only.

Mission:
The business purpose of Coopfond is to manage a mutual benefit fund for the promotion of
co-operatives.
The aims of Coopfond are :

1. To foster the co-operative development
2. Manage and protect the assets of the mutual fund
3. To invest in innovative project having a high social value
4.  To contribute to a territorial balance
5. To develop alliances between the Co-operative movement and local communities

Actions:
They mainly invest in three fields :

1. Promotion of new co-operatives
2. Help existing co-operative wanting to develop
3. Strategic participation (systems and networks, alliance, objectives)
4. Investment in new and developing co-ops are for a duration of 5/7 years

The beneficiaries are selected on a financial plan which must be established in concordance with the
business plan delivered by Coopfond. After 5/7 years the co-op must be self-financed and must be able to
reimburse Coopfond.
Coopfond withdraws from the co-op by selling his shares to the co-operators.
The financed co-operative is monitored by Coopfond.
Coopfond also provides help and assistance to the co-operative.
The beneficiaries are the following :

• • New co-operatives : Coopfond invests up to 50% in the equity and may give a complementary loan for
• a duration of 5 to 7 years
• • New companies in which co-operatives are the main shareholders : Coopfond invest up to 30% in
• equity + complementary loan if needed
• • Developing co-operatives : Coopfond makes loans (on 5/7 years) which must be less than 50% of the
• investment needed
• • Contribution to intermediary structures : Coopfond invest in risk capital in financial institutions of the
• co-operative movement, regional financial institutions etc.
• • Others : the beneficiaries are heterogeneous (co-operatives, consortium, university, association),
• financed initiatives are such as training, research, promotion of the co-operative sector…