Italia Venture I, the Italian co-investment fund managed by Invitalia Ventures SGR, has closed its first year of activity with 11 investments.
In 2016, the vehicle has invested €8m in Series A rounds of Italian startups and innovative SMEs, generating an overall round value of €23m.
After closing five operations in the first semester (D-Eye, Sardex, Tensive, Zehus, Echolight), six additional investments have been completed in the latest months.
The new backed companies are:
– Empatica, which develops wearable devices with clinical quality sensing to improve people’s lives,
– 40 South Energy, which designs, builds and commercializes Wave and Tidal Energy Converters,
– Floome, a developer of a device that measures blood alcohol concentration (BAC) and sends the results directly to the user’s smartphone,
– Vino75, a wine ecommerce company,
– Pedius, an innovative communication service for deaf and hard of hearing people, and
– Remoria, a creator of innovative input devices for mobile virtual reality.
Two further investments, totalling €4m, will be closed in January 2017.
For Invitalia Ventures, the venture capital firm led by CEO Salvo Mizzi and owned by Invitalia, the National Agency for inward investment and economic development of the Italian Ministry of Economy, this announcement represents the culmination of its first 18 months of relentless activity.
In 2016, the team analyzed 1.000 projects across innovative and high growth sectors (internet, cleantech energy, e-health & data, medtech, biotech, VR and fintech) with a meaningful socio-economic impact and involving both Italian and global financial and industrial partners.
To do this, the firm has launched and created an investment platform comprised of 140+ partners including industry leading VCs and Corporate VCs worldwide. The investor network today includes Axa, Bosch, Intel, Unilever, Tim/Telecom Italia, Huawei, Samsung, Vodafone, Enel, Sky, Endeavor, 500 Startups, Balderton, Partech, Domain, Techstars, P101, Innogest, etc.
Commenting on the announcement, Mizzi said: “Thanks to these results already achieved in this first year of operations, we confirm all the promised
objectives: (1) to start the recovery of the Italian venture industry, (2) to invest in the best investment opportunities coming from the Italian innovation ecosystem and (3) to attract international smart capital.
“Invitalia Ventures is now the real innovation national platform that supports the best Italian projects and talents thanks to the productive collaboration among our financial, academic and industrial partners.”