VeNetWork has successfully exited by selling Circuito Venetex Srl to Sardex, enhancing the latter's presence in the mutual credit space within the Veneto region.

Information on the Target

VeNetWork has successfully completed its first exit by selling Circuito Venetex Srl, the pioneering commercial credit circuit established in Veneto. This noteworthy operation culminated on December 7, 2022, marking a significant milestone for VeNetWork, a group formed by a coalition of Venetian entrepreneurs dedicated to business restart initiatives. Over the past three years, Circuito Venetex attracted 750 participating businesses and facilitated transactions totaling 10 million euros, establishing itself as a vital player in the local economic landscape.

As a commercial credit network, Venetex provides businesses with a platform to transact using mutual credit rather than cash. This innovative approach enhances liquidity among member companies, fosters business growth, and strengthens the regional economy. The community-driven model has positioned Venetex as a leader in promoting sustainable business practices in the Veneto region.

Industry Overview in Italy

The economic environment in Italy, particularly in the Veneto region, is characterized by a strong small and medium-sized enterprise (SME) sector. SMEs account for approximately 99.9% of all businesses in Italy and are cruc