Venture capital: Neva Sgr launches two new funds for a total of €500 million
Neva Sgr, the Intesa Sanpaolo Group's venture capital company, is doubling its commitment to support innovation by launching two new funds, Neva II Global and Neva II Europe, for a total of €500 million.
The two new funds will be operational from the second half of 2024 and will focus on companies that adopt the best ESG and circular policies and are committed to providing business solutions to global problems:
- Neva II Global aims to raise around €400 million to invest in the world's best highly innovative emerging companies, with a focus on US, Israeli, European and Italian companies
- Neva II Europe aims to raise around €100 million and will be entirely dedicated to European, especially Italian, companies
During the presentation of the new funds to venture capitalists, corporations, institutional investors, experts, entrepreneurs and startuppers gathered at the Officine Grandi Riparazioni in Turin, Intesa Sanpaolo Chairman Gian Maria Gros-Pietro commented:
"Intesa Sanpaolo – the country's leading banking group – wanted to enter the world of venture capital directly. We consider it an effective tool for developing innovation, and in particular the creativity of young people, and therefore essential for solving the problems of sustainability, environmental and otherwise, faced by today's world."
Gian Maria Gros-Pietro, Chairman of Intesa Sanpaolo
Neva Sgr, established in August 2020, has invested in 35 companies, with a total allocated amount of approximately €142 million through its Neva First and Neva First Italia funds, dedicated to investments in Italian companies. It has also launched the SEI - Sviluppo Ecosistemi di Innovazione fund, fully subscribed by Intesa Sanpaolo Innovation Center, reserved to support the growth of innovative ecosystems in Italy.
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Last updated 14 September 2023 at 17:31:44
