CDP acquires 70% of Invitalia Ventures to manage FNI

Following the deal, Invitalia will be appointed as fund manager of Fondo Nazionale per l'Innovazione (FNI), a state-backed vehicle that is expected to be launched in the coming months and raise around €1bn, according to the Italian government.

Fondo Nazionale Innovazione will invest in Italian VC funds, startups and SMEs operating in a wide range of sectors across the technology industry, including artificial intelligence, blockchain, agritech, fintech and automation.

Invitalia Ventures currently manages two funds: Italia Venture I, an €87m vehicle that deploys equity tickets of €500,000-5m in early-stage transactions; and Italia Venture II (Fondo Imprese Sud), a €150m private equity fund targeting companies based in southern Italy and investing €5-10m per deal.

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• Topics
• Funds
• Fund-of-funds
• GPs
• Southern Europe
• Italy