FNM joins CDP Venture Capital Sgr's Corporate Partners I Fund
The integrated Group for sustainable mobility in Lombardy subscribes shares in the InfraTech sub-fund for 10 million euros, joining the advisory board of the sub-fund.
Corporate Partners I is the corporate venture capital umbrella fund that involves the main industrial and financial players through collaboration and investment in startups engaged in the energy, services, manufacturing and infrastructure sectors.
Milan, 31 August 2023 – FNM S.p.A. and CDP Venture Capital Sgr sign an agreement for the development of startups and innovative SMEs through the entry of the integrated Group for sustainable mobility in Lombardy into the Corporate Partners I Fund, the umbrella fund involving leading industrial and financial players to stimulate the growth of the innovation ecosystem in Italy in the strategic energy, manufacturing, services and infrastructure sectors.
In particular, with an investment of 10 million euro, the FNM Group enters the InfraTech sub-fund of CDP Venture Capital Sgr’s Corporate Partners I Fund, specialized in the research of technological solutions applicable to infrastructures such as the design and planning of infrastructures and the monitoring, management and control of construction sites and infrastructures thanks to innovative solutions and technologies based on artificial intelligence and the Internet of Things, robotics and new materials.
Through this subscription, FNM joins the advisory board of the sub-fund together with the previous corporate partners Terna Forward and Ferrovie dello Stato Italiane.
Participation in the fund is consistent with the objectives of the FNM Group's 2021-2025 Strategic Plan, which envisages cumulative investments in the period of 11 million euro in projects concerning technological innovation and data management. The investment needs in the InfraTech sub-fund, currently foreseen in tranches in the period 2023-2027, will be covered over the plan period partly with the resources already planned for innovation and partly with additional resources. This will allow the FNM Group to continue pursuing the path started in terms of research and innovation projects and investment in start-ups, including the acquisition of shares in Sportit S.r.l. and Busforfun.com S.r.l. as well as the participation in Centro Nazionale per la Mobilità Sostenibile (MOST) promoted by Politecnico di Milano and co-financed with the National Recovery and Resilience Plan (NRRP) resources.
Furthermore, the investment in the Corporate Partners I Fund represents an opportunity to grow the FNM Group's business model thanks to the active collaboration with CDP Venture Capital Sgr and other companies operating in the sector, combined with the ease of access to a diversified group of startups and with visibility on emerging trends in technological innovation and development.
Thanks to this new strategic partnership, CDP Venture Capital Sgr's Corporate Partners I Fund reaches 300 million euro in subscriptions, approaching the target of 400 million euro and continues fundraising on the Fund's four sub-funds: InfraTech, IndustryTech, EnergyTech and ServiceTech.
