Indaco Venture Partners SGR, a Milan, Italy-based newly created venture capital firm, launched Indaco Ventures I Fund.
The fund has already raised €130m euro from Intesa Sanpaolo, Fondo Italiano d’Investimento and Fondazione Cariplo. The final funding target is over €200m to be reached by the end of 2018.
Promoted by a team of venture capital managers led by Davide Turco, Fondazione Cariplo and the Intesa Sanpaolo Group, Indaco Venture Partners is owned by:
Futura Invest (whose main shareholders are Fondazione Cariplo and Fondazione Enasarco) and Intesa Sanpaolo, which will hold 49% of the shares, while 51% of the firm is owned by the five key-managers:
– Davide Turco (Chief Executive Officer),
– Elizabeth Robinson (Executive Vice-Chairman),
– Antonella Beltrame, Alvise Bonivento and Valentina Bocca (Investment Directors).
The fund will invest in 20-30, mainly later-stage start-up companies, operating in the following key areas:
– digital technology,
– electronics and robotics,
– medtech, and
– new materials.
The Indaco I Fund has already made two investments in the medical and in electronics fields.