Eureka Venture holds €38m first close for debut fund

Bird & Bird, Oxygy Consulting and MJ Hudson-Alma advised Eureka on the fund structuring.

Investors
The European Investment Fund and Italian State-owned CDP (via its Itatech platform) are the anchor investors in the fund. Its LP base also includes Compagnia di San Paolo, advanced materials specialist SAES Group and aerospace company Umbra Group, as well as several high-net-worth individuals.

In addition, Eureka expects to attract several European institutional investors and corporate investors in the coming months. 

Investments
Eureka Fund I – Technology Transfer will invest in seed and series-A rounds, targeting companies operating in the "deeptech" industry (companies founded upon substantial scientific advances and high-tech engineering innovation), primarily focused on the discovery and production of advanced materials.

It will sign several partnerships with science and technology-focused universities, including 21Università, Centri di Ricerca Scientifica del Paese, Istituto Italiano di Tecnologia and Politecnico di Torino.

People
Eureka Venture – Stefano Peroncini (CEO).