Principia launches fashion- and design-focused VC fund

The vehicle has a €150m target and will focus on the fashion and design sector. The GP expects to close the first transaction by Q3 2017, according to local publication Milano Finanza.

The GP currently manages its third vintage, Principia III, which focuses on the healthcare and biotech sectors and currently has €206m in commitments, according to the GP's website. At the time of publication, the fund had already invested €47m in seven assets, including anti-tumour therapies provider Rigeneand and neurostimulation devices manufacturer Wise.

Investments
The fund mainly targets Italian small-cap businesses operating in the handcrafted fashion and design sectors.

The GP intends to inject equity tickets of €5-10m in companies mainly focused on the following segments: pret-a-porter, leather goods, accessories, glasses, interior design, jewellery and textiles, as well as the supply chair related to these segments.

People
Principia – Nicola Giuggioli (fund manager); Ann Marie Scichili (senior adviser); Piero Angelone (senior analyst); Susanna Luzzati (analyst).

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