Rome, June 23, 2020 - The Board of Directors of CDP Venture Capital, chaired by Francesca Bria, has approved the 2020-2022 business plan "From Italy to innovate Italy" presented by Chief Executive Officer and Executive Director Enrico Resmini.

The goal over the next three years is to make Venture Capital a strategic pillar of Italy’s economic growth and innovation by rapidly and effectively investing the allocated capital and creating the conditions for a comprehensive and sustainable growth of the Italian Venture Capital ecosystem.

Total funds of the asset management firm amount to around €1 billion (approximately €800 million of which has already been underwritten), thanks to the resources allocated in equal measure by the Government (specifically by the Ministry of Economic Development) and by the CDP Group (through its subsidiary CDP Equity).

To date, the underwriting is close to €800 million, including €260 million through the Ministry of Economic Development’s co-investment (target allocation of €310 million), which will systematically co-invest with funds managed by CDP Venture Capital.

Four funds are already active, with a balanced mix of direct and indirect investments:

• Italy Venture I Fund: Operational since 2015, this fund invests in Italian startups and innovative SMEs, operating mainly in the digital, biotech, medical and high-tech sectors. With an Asset under Management of €80 million, it currently manages a portfolio of 20 companies in the growth phase.​


• Italy Venture II Fund: This fund aims to accelerate the competitiveness and growth of innovative startups and SMEs in southern Italy. It invests in all phases of a company's life cycle, from seed to growth/expansion, and has an Asset under Management of €150 million..


• VenturItaly Fund of Funds: This fund invests in Venture Capital funds, including first time teams/first time funds, aiming to generate new players in the market and new teams within already-active funds. It also supports subsequent financings of existing funds. Its Asset under Management is €300 million (underwritten by CDP Equity and the Ministry of Economic Development’s co-investment fund).


• Accelerator Fund: This fund, which became operational in late May 2020, helps with the creation and/or development of vertical acceleration programs in strategic sectors by investing in startups participating in programs supported by the Fund. The Fund will invest both directly and indirectly, providing financial and/or managerial support to business accelerators and to innovative high-tech startups in sectors with great growth potential. The Fund has an initial Asset under Management of €125 million (underwritten by CDP Equity and using the resources of the Ministry of Economic Development’s co-investment fund).

In the coming months, CDP Venture Capital is set to launch two additional new funds:

• The Corporate Venture Capital Fund, which will directly involve some of the CDP Group's companies as Limited Partners and will invest directly in startups focused on some of Italy’s most strategically sound industries. The Fund will have an initial Asset under Management of €150 million.​


• The Tech Transfer Fund, aims to support the technology transfer chain through selective co-investment in promising startups and investment in specialized vertical funds. This Fund will have an initial Asset under Management of €150 million.

Finally, slated for launch in early 2021, the Late Stage Fund will have an initial Asset under Management of €100 million. This fund aims to directly support “mature phase” startups in need of capital for further stabilization and expansion into international markets, helping contribute to the development of high technology companies, with prospective potential for the industry at large.

Overall, CDP Venture Capital is currently evaluating a pipeline of over 200 opportunities, planning to approve investments totaling more than €250 million by the end of 2020.

Since February 2020, important new initiatives have been approved and have gotten underway, bringing the total approved investments to over €100 million, which will impact about 160 startups. Some of the initiatives arose out of the Covid-19 emergency and address the resulting challenges many startups are facing:

• AccelerORA!: By September 2020, this program aims to finance startups, mainly those in the seed/pre-seed phase, with investments of up to €300,000 via the Accelerators Fund, for a total of up to approximately €9 million.​


• Seed per il Sud: Also by September 2020, this scheme aims to finance startups in the seed/pre-seed phrase, based in southern Italy, with investments of up to €300,000 via the Italy Venture II Fund, for a total of up to €6 million.


• ItaliaXStartup: This weekly web series explores the experiences of startups facing the Covid-19 crisis, sharing their stories and successes, to create business and investment opportunities in specific industries.

The CDP website (www.cdpventurecapital.it) and the LinkedIn page CDP Venture Capital are also now active and will report on the asset management company’s main activities and initiatives.