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IFI was founded in 1931 by Giovanni Agnelli, entrepreneur and founder of Fiat, with the aim of providing financing and support to Italian industrial companies. Initially, IFI was an investment company that mainly dealt with equity investments in various industries.
In the following years, IFI broadened its scope and began to play a key role in the Italian industrial sector. It acquired significant stakes in several companies, including the Italian chemical company Montedison and the office machine manufacturer Olivetti.
IFI played a strategic role in the industrialisation and modernisation of Italy. Through its shareholdings and financial support, it contributed to the growth and development of several key industries in the country, including the automotive, chemical and telecommunications industries.
In the 1960s and 1970s, IFI was involved in major mergers and acquisitions. In 1966, IFI and Finmeccanica, another important Italian company in the industrial sector, merged to form STET (Società Finanziaria Telefonica). STET became a benchmark for the telecommunications sector in Italy.
Over the years, IFI continued to expand and diversify its activities. It acquired stakes in several international companies, contributing to the creation of a solid international investment portfolio. In addition, IFI also became involved in the energy sector, becoming a controlling shareholder of Società Finanziaria Energia elettrica (Sofinter).
In the 1990s, IFI underwent a series of changes and restructuring. In 1999, the holding company IFI was dissolved and most of its holdings were transferred to a new company, Exor. Exor became the main holding company of the Agnelli group, with interests in various industrial, financial and service sectors.
Today, Exor represents one of Italy's leading financial and industrial conglomerates and is active in several sectors, including automotive, media, energy and finance. Despite the closure of IFI as a separate entity, its role in Italian economic history has been significant, contributing to the growth and development of many key companies and sectors in the country.
