Atlante Ventures leads €1.5m YOGITECH round

Italian fund manager and existing shareholder Sviluppo Imprese Centro Italia (SICI) contributed €500m to the round via its Fondo Toscana Ventures vehicle. This round follows on from Toscana Ventures' €1m investment of 2005.

Atlante was introduced to YOGITECH by the corporate finance team at the Cassa di Risparmio di Firenze bank.

The fresh capital is expected to boost the company's investment capability within the market of robust embedded systems for safety-critical applications. It will strengthen YOGITECH's engineering operations and fund the restructuring of the company's sales and marketing activities.

YOGITECH's technology, reputation and the international credibility of its management team are said to have been instrumental in securing the investment. SICI in particular was impressed by the way in which the business continued to invest in product innovation throughout the economic downturn.

Atlante was created with initial assets of €25m in 2008, while Toscana Ventures began operating in 2004 with a total capital commitment of €50m.

Company
Pisa-based YOGITECH specialises in developing hardware and software solutions for safety critical applications such as power steering, braking systems and car airbags. It was founded in 2000 and counts major international firms such as Toshiba, Renesas Electronics and Texas Instruments among its customers.

The company generated a turnover of €2m in 2010 and an EBITDA of €500,000. It employs around 20 people.

People
Fund manager Davide Turco and investment manager Alvise Bonivento led the deal on behalf of Atlante, while Massimo Abbagnale, president, represented SICI. Silvano Motto is the CEO of YOGITECH.

Advisers
Equity – Intesa Sanpaolo Merchant Banking (Legal).

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• Topics
• Southern Europe
• Industrials
• Expansion
• Italy
• Intesa Sanpaolo