Atlante Seed (Intesa Sanpaolo Group) and Digital Magics:
Agreement for the Development of Technology Start-Ups
The Investment Fund signs a structured cooperation agreement with the certified innovative start-up incubator to co-invest in start-ups
Milan, 21 November 2013 – Atlante Seed, the Intesa Sanpaolo Group Fund managed by IMI Fondi Chiusi SGR dedicated to Seed and Early stage capital, and Digital Magics, certified innovative start-up venture incubator quoted on AIM Italia, have signed a framework agreement for the joint development of investment activities in digital start-ups. The goal of the partnership is to increase investment capacity for the start-ups selected and incubated by Digital Magics, guaranteeing adequate financial resources for their development.
Atlante Seed will join the Digital Magics Angel Network and will have the right to participate in the seed rounds, forming part of the share capital of high growth potential start-ups, co-investing in the companies proposed by the incubator.
This operation forms part of an indirect investment plan developed by Atlante Seed, which in July 2013 joined the share capital of Digital Magics when the latter floated on the AIM.
The Digital Magics Angel Network plays an active role in the selection of ideas and new businesses and in providing strategic consultancy: it assesses start-ups, proposes new projects to the incubator - thus generating corporate venture capital dynamics - and provides its industrial expertise and financial resources to assist in the growth of the start-ups.
“The agreement with Digital Magics fits perfectly with our strategy, which seeks to develop a strong network of partnerships with leading venture incubators and accelerators in order to contribute to the creation of an ecosystem of domestic and overseas tech start-ups" - commented Andrea Ballestri, Investment Director at Atlante Seed - “During its first year of activity Atlante Seed has already concluded numerous direct investment operations in start-ups, accompanying them on a path of growth and creation of value. We plan to continue our scouting and co-investment activities, exploiting the potential of the Intesa Sanpaolo international network, which we regard as a genuine asset available to our Fund".
“This agreement with a financial partner like the Intesa Sanpaolo Group which, like us, has been working for years to construct the venture capital segment, represents an important alliance for the Italian digital sector" - remarked Enrico Gasperini, Founder and Chairman of Digital Magics - “Partnerships between investment funds, incubators and industrial operators are key for the growth of our ecosystem. We created our Angel Network with this aim in mind. A community that is open not only to investors that already participated in the flotation of Digital Magics, but also to future shareholders and partners”.
Atlante Seed, the Intesa Sanpaolo Group fund dedicated to Seed and Early stage capital, invests in the risk capital of small innovative businesses with high growth potential, paying particular attention to companies that operate in the hi-tech sectors. In addition to this activity (direct investment), the Fund also invests in select business incubators or accelerators specialising in specific sectors (indirect investments).
Digital Magics – www.digitalmagics.com
Digital Magics is a certified venture incubator of innovative digital start-ups that supply valuable technology content and services. Digital Magics is quoted on AIM Italia, Mercato Alternativo del Capitale, the market dedicated to small and medium-sized Italian enterprises with high growth potential organised and managed by Borsa Italiana. Digital Magics constructs and develops internet start-ups, supporting the founders, investing its own capital and providing acceleration services. It begins with talent and ideas, transforming them into disruptive and successful businesses in the Italian and international digital economy. The incubator promotes the enterprise and risk culture, contributing to economic growth and youth employment. Digital Magics supplies services to support the innovation, the founding and the development of digital start-ups, and supports them in their search for new private and public Italian and international investors, who finance the subsequent development phases. The Digital Magics model is unique in Italy and is based on the Digital Magics LAB: the team that identifies, analyses and launches new initiatives, providing innovative start-ups with mentorship, financial, administrative, strategic, logistical, technology and marketing and communications services, as well as business management support that can help accelerate the company's growth process.
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Last updated 21 November 2013 at 11:43