New actors are joining the Italian venture capital scene, while top-tier financial firms keep supporting the sector.
Davide Turco, head of Atlante Ventures, a financial sponsor that belongs to Intesa SanPaolo, said that the bank would retain a 25%stake in an independent fund that is about to start its activities (see here a previous post by BeBeez). Turco added that Atlante is nearing its second fundraising closing that will be of between 130 and 150 million of euros ahead of a 200 million target.
Genextra, the biotech investment firm that Francesco Micheli founded in 2004 together with bespoke oncologist Umberto Veronesi, received 80 million of US dollars as mid-term financing from Credit Suisse International (see here a previous post by BeBeez). Last year Intesa SanPaolo and Banco BPM provided to Genextra, in which both hold a stake, 40 million of euros financing due to mature in 2019. In 2016 the company posted a loss of 6.9 million of euros due to a review of the value of some of its portfolio investments (minus 2.4 million for 43% of EryDel, minus 0.597 million for 28.2% of Tethis, minus 0.545 million for 41.6% of Innovheart, minus 0.446 million for Congenia and minus 0.297 million for written off Dac). In 2015 Genextra posted a 5.4 million loss, while in 2014 it recorded a 70 million capital gain after having listed Intercept Pharmaceuticals on Nasdaq. Genextra raised 97.7 million of dollars out of such IPO.
Edison, the Italian energy company, signed a partnership with pan-European venture capital firm Idinvest Partners (see here a previous post by BeBeez). Edison will hold a stake in an Idinvest’s fund for Asian, European, US, and Israel’s startups in the fields of Smart City, Smart Energy, Smart Building & Industry, New Mobility, and Key Enabling Technologies. Edison may co-invest in startups that would find interesting, while Idinvest committed to supporting the Italian ecosystem for startups. Idinvest is currently fundraising for Electranova Capital II, its Smart City fund that launched in 2012 together with EDF, Allianz, and BPI. Idinvest is also managingEcomobility Ventures, a multi-corporate venture fund for the fields of clean mobility in which also invested SNCF, Total, Orange, Air Liquide, and Michelin.
Tannico, an Italian e-merchant of wine, raised 2.5 million of euros through a capital increase that the investors of the previous financing rounds and Hong Kong’s Nuo Capital, the investment holding of Pao Cheng family, subscribed (see here a previous post by BeBeez). In the last five years, Tannico raised 8 million. In October 2016, Italian venture capital firm P101 invested 3.8 million together with Italian business angels Matteo de Brabant, Maurizio di Robilant, and Stefano Saccardi on the ground of a post-money enterprise value of above 10 million. Tommaso Paoli, ceo of Nuo Capital, will join Tannico’s board of which are part Marco Magnocavallo, the company’s cofounder and ceo, Andrea di Camillo, managing partner of P101, Saccardi, and de Brabant. The proceeds of such round will finance the development of Tannico.biz, the B2B Horeca portal, the opening of a Milan based Tannico WineBar, and the further strengthening of Tannico.it