• The fund of the Intesa Sanpaolo Group's venture capital company focuses on tech companies with strong growth potential. It is a closed-end, restricted Italian alternative investment fund and is parallel to the Neva First fund
  • Following in-depth due diligence, Cdp Venture Capital Sgr decided to support Neva Sgr with a €10 million investment in Neva First Italia

Milan, 6 December 2021 - Neva Sgr, the Intesa Sanpaolo Group's venture capital arm, has set up a new investment fund, "Neva First Italia", dedicated solely to the Italian market and 100% subscribed by the FoF VenturItaly fund of funds and the Ministry for Economic Development co-investment fund managed solely by Cdp Venture Capital Sgr. The goal is to invest in Italian tech, deeptech and fintech companies undergoing rapid growth and expansion.

Neva First Italia will stand alongside the Neva First fund, created by the Intesa Sanpaolo Group company in August 2020, which has already invested over €60 million on both Italian and international startups.  

Neva Sgr manages funds for investors interested in the diversification and high return opportunities offered by venture capital, through investments in innovative technological and sustainable startups both in Italy and abroad. The target companies are represented by unlisted companies that meet the requirements of excellence and innovation: they must operate on global trends and offer exponential growth prospects in the medium and long term, present unique and innovative traits in terms of know-how and business management, possess clear and goal-oriented leadership and contribute to the growth and development of the national economy.

"Investing in Neva First Italia is strategic to strengthening the deeptech and fintech sectors, which are still scarcely covered by venture capital in Italy but are well represented in the range of high potential young companies that must aspire to become international champions," commented Enrico Resmini, CEO and General Manager of CDP Venture Capital Sgr. "We are pleased to support Neva Sgr in launching this fund, which will accelerate innovation in these investment segments."

The operation was overseen for CDP Venture Capital Sgr by Cristina Bini and Simona Corno, Head and Senior Investor Manager of FoF VenturItaly, respectively, and by Martino Rocca, Investment Manager.

"Our partnership with Cdp Venture Capital Sgr," explained Mario Costantini, CEO of Neva Sgr, "will enable us to boost investments in the domestic market and accelerate the development of our portfolio. The Neva First Italia fund will operate in parallel with our first fund, Neva First, which can count on a total endowment of €200 million and a funding target of €250 million by 2022. Numbers that allow us to give a strong boost to the venture capital sector, which is increasingly growing in Italy."

In managing the fund, Mario Costantini will be assisted by Antonio Chiarello in the same role as key man.

Being part of the Intesa Sanpaolo Group and the synergies with the Bank's various business areas allow Neva Sgr to rely on extensive professional expertise, a strong network of relationships with companies and institutions and consolidated know-how regarding the digital transformation of the financial sector and the transition of the economic-productive system towards sustainable, inclusive models.

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Intesa Sanpaolo

Corporate & Investment Banking and Governance Areas