Quadrivio and Intesa Sanpaolo merge VC activities

Intesa Sanpaolo's Imi Fondi Chiusi spun off its venture capital funds Atlante Ventures, Atlante Seed and Atlante Ventures Mezzogiorno, and merged them with Quadrivio's TTVenture fund.

The combined portfolios will be managed by a new venture capital firm, the name of which is yet to be disclosed. It will manage the new vehicle, which will have a €120m target.

Intesa Sanpaolo and Quadrivio will both retain a 40% stake in the firm, while the management team of the new firm will own the remaining 20% stake. According to a statement, the shareholders have already allocated €70m to the fund.

As part of the deal, Davide Turco, head of Imi's Atlante Venture fund, will lead the firm as CEO, while Quadrivio investment director Elisabeth Robinson will be the chairperson.

The new vehicle will target venture capital investments in Italian startups in the medtech, cleantech and Internet-of-Things (IoT) sectors. According to a statement, the fund can also invest in seed rounds on an exceptional basis.

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• Topics
• GPs
• Southern Europe
• Funds
• Italy
• Quadrivio
• Intesa Sanpaolo
• Venture