Rome, 29 May 2024 – The VenturItaly II FoF of CDP Venture Capital Sgr, the new fund of funds that invests in Venture Capital funds managed by national managers, has been launched to help consolidate the financial infrastructure of the Italian Venture Capital market. With a capital target of 500 million euro and maximum size set at 700 million, the VenturItaly II FoF will focus its activities on funds dedicated to investment in companies with a high rate of innovation in all technological sectors, including those of national strategic interest, such as energy transition, aerospace, health and agritech.

The first closing was subscribed by anchor investors Ministry of Enterprises and Made in Italy (Mimit, previously MISE) for 375 million euro, through the fund established by inter-ministerial decree of 26 July 2022, which governs the methods of investment of the resources allocated by Decree-Law 121 of 2021 in the area of venture capital, and CDP Equity (CDP Group) for a further 100 million, for total funding of 475 million.

These resources have made it possible to establish the VenturItaly II FoF, which CDP Venture Capital promotes in continuity with predecessor VenturItaly FoF, the first fund of funds initiative launched in 2020 that has successfully completed allocation on 19 Italian venture capital funds, of which over half managed by new generation teams. The leverage effect generated on the market is significant, equal to 3x the resources subscribed by CDP Venture Capital in the subscribed funds, as these target funds were able to attract a wide base of investors.

The new VenturItaly II FoF will be managed by the two Managers Simona Corno and Roberto Parrella, within the investment team that deals with funds of funds activities in CDP Venture Capital, headed by Senior Partner Cristina Bini.

 

“The solidity of Venture Capital’s financial infrastructure depends above all on the presence of an array of managers who can guarantee a long-term vision for new innovative companies and the creation of national champions at the international level. In this sector, the intervention of CDP Venture Capital has thus far generated a virtuous process on the market, with the VenturItaly FoF creating additionality between public and private resources available to national managers and similarly stimulating the intervention of foreign operators alongside Italian ones in the financing of tech companies, through the activities of the International FoF”, comments Agostino Scornajenchi, Chief Executive Officer and General Manager of CDP Venture Capital. “In keeping with this strategy, we have oriented part of the objectives of the 2024-2028 Business Plan by allocating 3.3 billion euro to “indirect” investments, to support third-party venture capital funds generated by the creation of new Venture Capital operators, as well as to support existing ones”.