Primomiglio to launch €80m VC space technology fund

The GP expects to hold a first close in October on €36-38m and a final close by the end of 2021.

The vehicle has a partnership with the Italian Space Agency, and has raised capital from both institutional investors and industrial players operating in the aerospace industry.

The fund will deploy equity tickets of €100,000-6m in seed investments, and series-A and series-B rounds, and will target both upstream and downstream companies across the aerospace industry.

The vehicle will invest in startups involved in the provision of technology for space infrastructure, as well as businesses working on aerospace data, earth observation and satellite communications. 

It will invest around two thirds of its capital in Italy-based startups, while deploying the remainder in companies located in the rest of Europe, Israel and the US, and will consider co-investments with LPs and syndicate investments when focusing on larger deals.

Primomiglio is also currently managing Barcamper Ventures, a €45m fund dedicated to digital, financial technology, big data and software companies.

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