Promotes and finances cooperative development in Italy.
Coopfond is a mutual fund established by Legacoop, an Italian cooperative association, to promote and develop the cooperative movement in Italy. The fund is managed by Coopfond SpA, a company owned by Legacoop, and is fueled by 3% of the annual profits of Legacoop member cooperatives, as well as by the residual assets of cooperatives in liquidation and the fund's own management profits. The focus areas of Coopfond include promoting cooperative culture, supporting the creation of new cooperatives, and repositioning existing ones. The fund provides financial resources through loans and temporary equity investments, with a preference for projects that promote technological innovation, employment, and development in the southern regions of Italy. Coopfond offers both revolving funds and non-repayable grants. Non-repayable grants are available for initiatives of particular cultural value, cooperative promotion, and for cooperatives facing difficulties or in startup phases. The criteria for receiving funding include alignment with cooperative principles, innovation, and social impact. Recent projects and specific financing amounts are not detailed in the available sources. Coopfond operates under the supervision of the Italian Ministry of Economic Development.