NEVA SGR DOUBLES: TWO NEW FUNDS
FOR €500 MILLION OF INVESTMENTS
IN HIGHLY INNOVATIVE EMERGING COMPANIES
- At Officine Grandi Riparazioni in Turin, the presentation of Neva II Global and Neva II Europe funds.
- Both funds will be launched in the second half of 2024 and will focus on companies that adopt the best ESG and Circular Economy policies and are committed to providing business solutions to global problems.
- Luca Remmert: "The results already achieved with the Neva First Fund have demonstrated the high professionalism of our team. I am confident that Neva Sgr will be able to grow and make a name for itself further, giving even greater satisfaction to investors".
Turin, 13 September 2023 - Following the success of the Neva First fund, which raised €250 million to invest in Italian and foreign hi-tech start-ups in various sectors, the venture capital company Neva Sgr of the Intesa Sanpaolo Group is doubling its commitment to supporting innovation by launching Neva II Global and Neva II Europe for a total of €500 million.
Neva Sgr Chair, Luca Remmert, and CEO and General Manager, Mario Costantini, presented the two new funds today at Officine Grandi Riparazioni in Turin to an audience of venture capitalists, corporations, institutional investors, experts, entrepreneurs and startuppers from all over Italy and several other countries, in particular the United States and Israel. The event was introduced by Intesa Sanpaolo Chair Gian Maria Gros-Pietro.
The objective of Neva II Global is to raise around €400 million and invest it in the world's best highly innovative emerging companies, with a focus on US, Israeli, European and Italian companies. Neva II Europe, which is expected to raise around €100 million, will be entirely dedicated to European, especially Italian, companies. Both funds will be operational from the second half of 2024 and will focus on companies that adopt the best ESG and Circular Economy policies and are committed to providing business solutions to global problems.
"With Neva II Global and Neva II Europe, we will use the same highly selective criteria we have used so far to identify growth-stage companies with long-term competitive advantages, great market opportunities, and adherence to ESG and circular economy criteria" – explains Luca Remmert, Chair of Neva Sgr. "The results already achieved with the Neva First Fund have demonstrated the high quality of our team, composed of cross-functional and international professionals with proven and recognised experience and in-depth knowledge of the markets. Thanks to the collaboration with Intesa Sanpaolo Innovation Center, universities, research centers, accelerators and incubators, and thanks to its membership of one of the largest and most solid banking groups in Europe, I am confident that Neva Sgr will be able to grow and make a name for itself further, giving even greater satisfaction to investors".
As evidence of the many investments made with high-tech companies operating in different countries and sectors, some prominent figures took turns on the OGR stage, including founders and managers, who well represented the diversified composition of Neva Sgr fund investment portfolios:
- Maria Grazia Roncarolo, Co-founder and Chair of Tr1x (biotechnology for the treatment of autoimmune and inflammatory diseases);
- Colin Story, CEO of BetaGlue Technologies (development of innovative cancer therapies);
- Nelson Holzner, Co-founder and CEO of MODIFI (Digital Trade Finance);
- Nir Minerbi, CEO and Co-founder of Classiq (Quantum Computing);
- Dror Liwer, Co-Founder and Chief Marketing Officer of Coro (Artificial Intelligence for Cybersecurity);
- Andrew Corner, General Manager of Cool Planet Technologies (Advanced Membrane Carbon Capture);
- Claudio Spadacini, CEO and Founder of Energy Dome (long-life CO2 batteries);
- Bruno Garavelli, CEO and Co-founder of Xnext (new generation of X-ray inspection systems for quality control);
- Matteo Vanotti, CEO and Co-Founder of xFarm (digital platform for farming management);
- Andrea Rossi, Director of Finance and Corporate Finance at D-Orbit (space logistics and orbital transport services).
Today's meeting was also an opportunity to retrace the steps that led to the creation and rapid growth of Neva Sgr, which since August 2020, has invested in 35 companies, for a total allocated of approximately €142 million through the Neva First and Neva First Italia funds – dedicated to investments in Italian companies – and launched the SEI – Sviluppo Ecosistemi di Innovazione fund, fully subscribed by Intesa Sanpaolo Innovation Center and reserved to support the growth of innovative ecosystems in Italy.
Neva SGR, part of the Intesa Sanpaolo Group and 100% owned by Intesa Sanpaolo Innovation Center, designs and manages investment funds for professional investors interested in exploiting the diversification and high-yield opportunities offered by venture capital investments. Neva SGR can rely on the strength, financial resources, know-how and network of relationships of Intesa Sanpaolo Innovation Center and the Intesa Sanpaolo Group, a unique source of value in the market. Neva SGR can follow trends and markets from a privileged position and acts with the strength and responsibility of Italy's leading banking group. Intesa Sanpaolo Innovation Center invested in Neva First, the investment fund designed for excellent, high-tech, highly innovative start-ups that exploit trends with exponential growth potential.
Neva SGR is the perfect combination of the Intesa Sanpaolo Group's strength, reputation and stability with the best practices of international venture capital firms. Neva SGR aims to contribute to the growth of the Italian economy through investments in new technologies and to be the market maker of the Venture Capital asset class in Italy.
Intesa Sanpaolo Innovation Center
Intesa Sanpaolo Innovation Center is the Intesa Sanpaolo Group company dedicated to the innovation frontier. It explores scenarios and future trends, develops multidisciplinary applied research projects, supports start-ups, accelerates the business transformation of companies according to open innovation and circular economy criteria, encourages the development of innovative ecosystems and spreads a culture of innovation, with the goal of making Intesa Sanpaolo the driving force behind a more aware, inclusive and sustainable economy. Headquartered on the 31st floor of the Intesa Sanpaolo skyscraper, with a national and international network of hubs and laboratories, the Innovation Center is an enabler of relations with other stakeholders in the
innovation ecosystem – such as companies, start-ups, incubators, research centres, universities, national and international institutions – and a promoter of new forms of entrepreneurship in access to risk capital, with the support of venture capital funds, including through its subsidiary Neva SGR.
Intesa Sanpaolo is the largest banking group in Italy – a point of reference for 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 and characterises its strong orientation towards digital and fintech. An efficient and resilient bank, it is the parent company of product factories in asset management and insurance. The strong commitment in the ESG field envisages, by 2025, €115 billion of impact financing, intended for the community and the green transition, and contributions of 500 million to support people in difficulty, positioning Intesa Sanpaolo at the top of the world for social impact. Intesa Sanpaolo has made Net Zero commitments for its emissions by 2030 and by 2050 for its loan and investment portfolios, asset management and insurance activities. A convinced supporter of Italian culture, it has developed a museum network, the Gallerie d'Italia, an exhibition venue for the bank's artistic heritage and artistic projects of recognised value.
Corporate & Investment Banking and Governance Areas
Last updated 13 September 2023 at 16:51