Digital Magics, a Milan, Italy-based startup venture incubator, and Atlante Seed, the Intesa Sanpaolo Group Fund managed by IMI Fondi Chiusi SGR dedicated to seed and early stage capital, have signed a framework agreement for the joint development of investment activities in digital startups.
The partnership aims to increase investment capacity for the startups selected and incubated by Digital Magics, guaranteeing financial resources for their expansion.
Atlante Seed will join the Digital Magics Angel Network (which selects ideas and new businesses, assesses startups, proposes new projects to the incubator, and provides industrial expertise and financial resources) and will have the right to participate in the seed rounds, 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 (read here).
Led by Enrico Gasperini, Founder and Chairman, Digital Magics is a certified venture incubator quoted on AIM Italia, Mercato Alternativo del Capitale. It develops internet startups, supporting the founders, investing its own capital and providing acceleration services. Its portfolio includes Buzzoole, Prestiamoci, Plannify, Ulaola, 56Cube, etc.