Fondazione Social Venture Giordano dell'Amore

What Fondazione Social Venture Giordano dell'Amore does

Fondazione Social Venture Giordano dell'Amore (FSVGDA) is an Italian impact investing foundation established in 2017 as the strategic and operational arm of Fondazione Cariplo. Its mandate is to promote impact investing as a tool to accelerate social innovation sustainably and inclusively, operating under four principles: intentionality, measurability, additionality, and financial return. The foundation deploys patient capital to social enterprises, social cooperatives, and third-sector entities across Italy, complementing investments with capacity-building programs and impact measurement services.

The foundation operates through an integrated program ecosystem. Direct investment programs include Impact4Coop (€4 million across two editions for social cooperatives), Impact4Art (€2.8 million for creative-sector enterprises), and GDA Invest (over €60 million managed by GDA Venture). Subsidized loan partnerships with Intesa Sanpaolo and Cooperfidi Italia have intermediated €41 million in credit to third-sector entities through Sostegno al Terzo Settore, Futuro Aggiunto, and P.A.S.S. Capacity building is delivered via Get it! (incubation/acceleration), Impact Your Talent (training at SDA Bocconi), and Talents Venture (Income Share Agreements for education). The Evaluation Lab provides impact measurement, while a Financial Advisory unit handles M&A and corporate finance for the third sector. FSVGDA pioneered Italy's first Impact Grant instrument, a hybrid between grant and equity deployed in 2022. To date the foundation has invested €12 million across 62 direct portfolio companies and analyzed 2,407 initiatives.

FSVGDA does not generate commercial revenue; it is funded through an endowment, grants from Fondazione Cariplo and other institutional partners, and investment returns. Investment ticket sizes range from €50,000 to €400,000, with 5-10 year durations. The foundation employs 11-50 staff, is headquartered in Milan, and operates primarily in Lombardy, Piedmont, and Emilia-Romagna with national program reach and a first cross-border investment into France via Phitrust Partenaires Inclusion in 2025.

Name

Fondazione Social Venture Giordano dell'Amore

Legal name

Fondazione Social Venture Giordano Dell'Amore

Website

https://fondazionesocialventuregda.it

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Fondazione Social Venture Giordano dell'Amore is an Italian impact investing foundation, established in 2017 as Fondazione Cariplo's strategic-operational arm, deploying patient capital, subsidized loans, and capacity building to social enterprises, cooperatives, and third-sector entities across Italy.

Ownership category

akta.pro rank

Product category

Impact Investing / Social Finance

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Grantmaking and Giving Services (81321)

SIC

Investment Advice (6282), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

akta.pro secondary industries

Impact Investment & Development Investment Funds (BPADACAO), Results-Based Financing (RBF) & Performance-Based Grants (BPADAOAF), Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ), Technical Assistance, Policy Lending & Capacity Building Programs (BPADACAN)

Keywords

• Impact investing
• Social enterprise financing
• Capacity building
• Impact measurement
• Subsidized lending

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Impact Investing Returns: The foundation generates returns through equity investments, quasi-equity instruments, and financial instruments in social enterprises, organizations, and impact funds. Revenue is reinvested to support the foundation's mission of promoting social innovation through impact investing.
2. Financial Advisory Services: The foundation's team provides M&A and Corporate Finance advisory activities for structuring complex financial transactions and impact business models in the third sector.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

FSVGDA is a nonprofit foundation that deploys impact investing capital directly into Italian social enterprises, cooperatives, and third-sector entities, and indirectly into impact funds, through programs such as Impact4Coop, Impact4Art, GDA Invest, and the Get it! acceleration program. It also delivers capacity building (Impact Your Talent, Get it!), financial advisory for complex transactions, and impact measurement services through the Evaluation Lab, pioneering instruments like the Italian Impact Grant and Income Share Agreements (ISA).

Differentiator

Problem solved

Functional benefit

Brands

• Impact4Coop: Impact investing program for social cooperatives supported by Fondazione Cariplo
• Impact4Art
• GDA Invest
• Get it!
• Evaluation Lab
• Impact Grant
• Income Share Agreements (ISA)

Products and services

• Impact4Coop Impact investing program for Italian Type A, B or mixed Social Cooperatives offering equity investments, financing shareholder participation, and Participating Financial Instruments with tickets ranging from 100,000 to 400,000 euros and 5-10 year duration. Includes optional Impact Grant (self-extinguishing shares) for cooperatives meeting pre-agreed social impact goals. For social cooperatives generating employment and services for communities, particularly those targeting vulnerable populations.
• Impact4Art Impact investing program targeting arts and culture sector social enterprises, providing equity and hybrid capital to creative sector organizations that generate measurable social impact through cultural and artistic activities.
• GDA Invest Flagship impact investing program managed by GDA Venture with over 60 million euros capacity, offering direct and indirect investments to Italian social enterprises and social venture capital funds. Addresses challenges in demographics, territorial welfare, employability, social housing, environmental protection, and cultural participation.
• Get it! - Path of Value Incubation, acceleration, mentorship and investment program for Italian impact start-ups, using periodic Call for Impact selection system to provide empowerment paths ('Percorsi di valore'), including equity investment for selected ventures addressing environmental, cultural, and social challenges.
• Evaluation Lab Strategic planning, reporting, monitoring, and impact estimation services for investors, social enterprises, and third sector entities. Produces research studies (The Observatory Notebooks), supports foundation strategic planning, and conducts advisory on impact measurement methodologies including studies on AI and education inequality.
• Impact Your Talent Training course delivered at SDA Bocconi School of Management for entrepreneurs with high impact and social innovation vocation, promoting dissemination and consolidation of managerial and entrepreneurial skills for impact-driven ventures.
• Talents Venture (Income Share Agreements) Data-driven education financing platform offering Income Share Agreements (ISA) for students, including EduFinance services and circular repayment tracking based on the pay-for-success model. Students commit to repaying a small portion of their income after finding employment.
• Impact Grant Instrument Innovative hybrid financial instrument positioned between grants and equity, acting as a bridge between philanthropic and investment capital. A portion of the investment converts into a grant if pre-agreed social impact goals are achieved, incentivizing achievement of impact objectives while strengthening beneficiary capital.
• Sostegno al Terzo Settore (Subsidized Loan Initiative) Subsidized loan program providing 30 million euros in credit to Italian Third Sector Entities (ETS) in Lombardy and Piedmont, with Cooperfidi Italia 50% guarantee and FSVGDA coverage fund for guarantee costs. Distributed through partnership with Intesa Sanpaolo.
• Futuro Aggiunto Subsidized loan program for Third Sector Entities in Piedmont, Liguria, and Aosta Valley offering loans from 50,000 to 300,000 euros with 24-120 month duration at subsidized rates, backed by Cooperfidi guarantee coverage and FSVGDA coverage fund.
• P.A.S.S. (Progetti per un'Autonomia Solidale e Sostenibile) Subsidized loan program targeting Third Sector Entities in Forlì province, offering loans between 30,000 and 200,000 euros with 24-84 month duration at subsidized rates, with Cooperfidi Italia 50% guarantee and 500,000 euros coverage fund from FSVGDA.
• Financial Advisory Services M&A and Corporate Finance advisory services for structuring complex financial transactions and impact business models in the Italian third sector, supporting foundations and funds on impact investment structuring.

Quantifiable outcome

• €12 million invested across 62 direct investments in portfolio
• +5 more outcomes

Named customers12 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature3 records

Partnerships

13 partnerships are on record, tiered major, core and minor.

• SDA BocconimajorStrategic or Co-development Partner · 1 January 2022Partnership for Impact Your Talent program, offering training course for entrepreneurs with high impact vocation. Program delivered 3 editions with 68 participants and over 400 hours of training.
• Intesa SanpaolocoreStrategic or Co-development Partner · 1 January 2020Key banking partner for multiple subsidized loan initiatives including Sostegno al Terzo Settore (€30 million), Futuro Aggiunto (€7 million), and P.A.S.S. (€4 million). The bank provides loans while FSVGDA coordinates coverage funds.
• Cooperfidi ItaliacoreStrategic or Co-development Partner · 1 January 2020Guarantee partner for subsidized loan initiatives, providing 50% guarantee coverage for loans under Sostegno al Terzo Settore, Futuro Aggiunto, and P.A.S.S. programs.
• CSVnet LombardiaminorStrategic or Co-development Partner · 1 January 2020Partnership for Sostegno al Terzo Settore initiative supporting non-profit organizations in Lombardy.
• Fondazione ONCminorStrategic or Co-development Partner · 1 January 2020Partnership for Sostegno al Terzo Settore initiative supporting non-profit organizations in Lombardy.
• Fondazione Peppino VismaraminorStrategic or Co-development Partner · 1 January 2020Partnership for Sostegno al Terzo Settore initiative supporting non-profit organizations in Lombardy.
• GDA VenturecoreStrategic or Co-development PartnerGDA Venture manages the GDA Invest impact investing program, a joint initiative promoted by Fondazione Social Venture Giordano Dell'Amore and Fondazione Cariplo, offering over €60 million to support Italian social entrepreneurship development.
• Fondazione CariplocoreStrategic or Co-development PartnerPrimary institutional partner and co-promoter of major programs including GDA Invest, Impact4Coop, Impact4Art, and Get it! The foundation is the strategic and operational arm through which Cariplo channel its impact investing activities.
• Cariplo FactorycoreStrategic or Co-development PartnerCollaboration partner for the Get it! incubation and acceleration program, providing operational support for the Call for Impact system and mentorship programs.
• Fondazione Compagnia di San PaolomajorStrategic or Co-development PartnerCo-promoter of Futuro Aggiunto initiative providing €7 million in subsidized loans to Third Sector Entities in Piedmont, Liguria, and Aosta Valley, with €500,000 coverage fund.
• Fondazione Cassa dei Risparmi di ForlìmajorStrategic or Co-development PartnerCo-promoter of P.A.S.S. initiative providing €4 million in subsidized loans to Third Sector Entities in Forlì territory, contributing to the coverage fund.
• Politecnico di Milano / TiresiaminorStrategic or Co-development PartnerResearch partner for impact measurement and evaluation activities, collaborating on studies about AI and education inequality.
• TriadiminorStrategic or Co-development PartnerLead partner in ADALTIM project (Algorithms and impact Data LAke for Transformative Impact Measurement), a consortium of 17 partners from 5 European countries.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Oltre Venture: Italy's pioneering impact venture capital fund manager focused on social impact investing in Italian startups. FSVGDA holds an indirect investment in Oltre Venture's portfolio, and both organizations target Italian impact enterprises with similar additionality principles — making Oltre the closest for-profit analogue to FSVGDA's direct investment strategy.
• Sefea Impact: Italian asset manager operating the Sì - Social Impact Fund (EuVECA), investing in Italian social enterprises with measurable impact. FSVGDA invested €500K in Sefea in 2020, and both entities operate as Italian impact investing platforms targeting similar investee profiles (startups, social enterprises, third-sector entities).
• Opes Italia: Italian Sicaf EuVECA impact fund investing in early-stage impact companies addressing social marginalization. FSVGDA invested in Opes Italia in 2020, and both deploy capital into Italian social enterprises using formal impact investing frameworks — directly comparable in mandate and target investee base.
• Avanzi Impact: Italian sustainability advisory and impact investing consultancy that operates impact funds and advises foundations on social impact strategy. FSVGDA holds an indirect investment in Avanzi's portfolio, and both target the Italian third-sector with combined advisory and capital deployment services.

Broad incumbents

• Fondazione Cariplo: Major Italian philanthropic foundation and FSVGDA's parent/sponsoring entity, operating across multiple program areas (arts, environment, social services) with assets over €7B. While much larger and broader than FSVGDA, Cariplo is the strategic anchor that channels institutional capital into FSVGDA's impact investing programs.
• Etica Sgr: Italy's leading responsible investment asset manager offering ESG and sustainability-themed mutual funds to retail and institutional investors. While Etica operates at much larger scale in traditional asset management, both entities share the Italian social/responsible investing mandate and engage with the same third-sector ecosystem.
• Fondazione Compagnia di San Paolo: Major Italian foundation with significant third-sector grantmaking activity and a co-promoter of FSVGDA's Futuro Aggiunto program. While operating across multiple program areas at much larger scale, Compagnia di San Paolo shares FSVGDA's interest in using capital to drive social innovation in Piedmont and broader Italy.
• European Investment Fund: EU institution providing risk financing for European SMEs and social enterprises through equity, debt, and guarantee instruments. EIF is a €20M anchor investor in programs FSVGDA participates in, and shares the mission of deploying institutional capital into underserved impact segments — though at vastly larger scale and broader European scope.
• Cassa Depositi e Prestiti: Italian state-owned financial institution financing national development, infrastructure, and social impact initiatives. CDP is a €20M partner alongside EIF in impact programs FSVGDA participates in, and represents the kind of large-scale institutional capital provider that FSVGDA leverages to scale its Italian social entrepreneurship agenda.

Regional players

• Phitrust Partenaires: French impact investment management firm investing in European social enterprises with focus on employment, social housing, financial inclusion, and disability. FSVGDA made its first cross-border investment (€500K) into Phitrust's European impact fund in 2025, positioning Phitrust as the European geographic peer for FSVGDA's internationalization strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/FSocialVenture

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments35 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fondazione Social Venture Giordano dell'Amore