Italian journalists' fund seeks VC opportunities
The National Institute for Italian Journalists' Social Security (INPGI) has launched a tender notice seeking closed-ended venture capital and growth capital funds to invest in.
The Roma-based body, which invests social security funds on behalf of Italian journalists, is looking to deploy up to €10m. It seeks to deploy in funds that have a target fundraise of at least €50m and a duration of up to 12 years.
Other requirements include that investments in seed capital or early stage must be less than 5%, and that at least 75% of the target companies must be domiciled in the Eurozone. The funds should also be regulated by the Alternative Investment Fund Managers Directive.
INPGI will consider first-time funds, although the management team should demonstrate a continuous track record of at least five years.
The deadline for proposals is on 25 February.
INPGI is seeking to increase its exposure to real assets and private markets to 24% from 18% currently.
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