Invitalia raises €5m from Fondazione di Sardegna

Following its first closing on €50m in November 2015, the fund has raised a total capital commitment of €65m to date. According to Mario Scudieri, investment manager at Invitalia, the fund will reach its €100m target in September 2017.

To date, the fund has invested in a €1.5m funding round for D-Eye and in a €3m series-A for Sardex. More recently, the funds' management board announced two further investments, with the name of the startups yet to be disclosed.

Investors
To date, Italia Ventures I has raised a €50m capital commitment from Italy's ministry of economic development, €5m from Cisco and €5m from Metec.

Investments
Launched in October 2015, Italia Ventures I is a venture capital fund that exclusively co-invests in Italian startups with equity tickets of between €500,000-1.5m.

The fund sticks to industry standards with regards to terms and conditions, and has no restrictions in terms of sectors to focus on.

People
Invitalia Ventures – Salvo Mizzi (CEO); Ciro Spedaliere, Mario Scudieri (investment managers).

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