ITALY - TTVenture fund launched by banking foundations

The initial subscriptions have come from banking foundations in Cariplo, Cuneo, Forli, Modena, Parma and Teramo as well as from the Chamber of Commerce of Milan.

Minimum subscriptions are set at EUR 1m for individuals and EUR 5m for qualified investors. The fund will be split between seed capital, and venture following the growth of the technology company. 15% of the fund will be reserved for investment in international venture funds as a means to establish commercial relations.

The fund forecast its closure for May 2009 and has set its target at EUR 150m.

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• Venture
• Southern Europe