Invitalia hits €87m final close with EIB commitment

Following a €21.65m commitment from the European Investment Bank (EIB), Invitalia reached the final close for its venture fund. The GP initially set the vehicle's target at €100m.

Investors
The recent allocation from EIB follows a €50m commitment from the Italian Ministry of economic development (MISE), €5m from Italian foundation Fondazione Sardegna, as well as €5m from US corporate Cisco and €5m from Metec.

Investments
Since its launch in October 2015, the fund has already invested €11m in 16 Italian early-stage businesses and SMEs and currently has €33m of assets under management.

The GP exclusively co-invests with both public and private investors 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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