NEVA SGR: NEVA FIRST ITALIA CLOSES ITS INVESTMENT PERIOD TWO YEARS IN ADVANCE
Luca Remmert: “Neva First Italia, driving force of fundraising in the Italian innovation ecosystem. In Italy, many young businesses are worthy of the attention of investors.”
Milan/Turin, 8 August 2023 – The Neva First Italia Fund of Neva SGR – Intesa Sanpaolo Group’s venture capital company – completed on 30 June this year, successfully and in advance of the forecast closure date of August 2025, the allocation period of its investments that was launched in November 2021.
The Fund, dedicated to highly innovative Italian start-ups and subscribed not only by Neva SGR, but also by the Fondo di Fondi VenturItaly and the MiSE Co-Investment Fund – both entirely managed by CDP Venture Capital SGR – has to date invested €7 million overall in 9 start-ups:
1. BetaGlue Technologies (development of innovative treatments against cancer)
2. Caracol (industrial 3D printers and additive manufacturing solutions)
3. D-Orbit (space logistics and orbital transport services)
4. Energy Dome (long-life CO2 batteries)
5. Leaf Space (global network of ground stations for satellite operators)
6. Mirta (online services for Made in Italy craftsmanship)
7. xFarm (digital management of agricultural crops)
8. Xnext (new generation of X-ray inspection systems for quality controls)
9. Yolo (digital insurance services)
Luca Remmert, Chairman of Neva SGR, said: “In less than two years, the Neva First Italia Fund, in collaboration with CDP Venture Capital SGR, has contributed to the growth of the Italian innovation ecosystem, encouraging the collection of a total of more than €160 million on behalf of 9 highly innovative Italian start-ups, 33 million of which are from the Neva First Fund, Neva SGR's global investment vehicle. Completing Neva First Italia’s investment programme two years in advance is a source of great satisfaction, a demonstration of the fact that there are also businesses in Italy that are worthy of the attention of investors, thanks to distinctive solutions and technologies.”
Neva SGR is the perfect combination of the strength, reputation and stability of the Intesa Sanpaolo Group and implements the very best practices of international venture capital companies. Neva SGR aims to contribute to the growth of the Italian economy through investments in new technologies and being the market leader of the Venture Capital asset class in Italy.
Intesa Sanpaolo is Italy’s leading banking group – serving families, businesses and the real economy – with a significant international presence. Intesa Sanpaolo’s distinctive business model makes it a European leader in Wealth Management, Protection & Advisory, highly focused on digital and fintech, in particular with Isybank, the Group’s digital bank. An efficient and resilient Bank, it benefits from its wholly-owned product factories in asset management and insurance. The Group’s strong ESG commitment includes providing €115 billion in impact lending by 2025 to communities and for the green transition, and €500 million in contributions to support people most in need, positioning Intesa Sanpaolo as a world leader in terms of social impact. Intesa Sanpaolo is committed to Net Zero by 2030 for its own emissions and by 2050 for its loan and investment portfolios. An engaged patron of Italian culture, Intesa Sanpaolo has created its own network of museums, the Gallerie d’Italia, to host the bank's artistic heritage and as a venue for prestigious cultural projects.
Corporate & Investment Banking and Governance Areas
Last updated 8 August 2023 at 11:15