EUREKA! Venture SGR, an Italian venture capital firm focused in deeptech investments, held the first closing of Eureka! Fund I – Technology Transfer, at €38m.
The fund was supported by the European Investment Fund (EIF), the ITAtech platform, InnovFin Equity – the financial instrument developed under Horizon 2020, the European Union program for Research and Innovation – the European Fund for Strategic Investments (EFSI), Compagnia di San Paolo, a bank foundation engaged in supporting innovation in Italy, SAES Group, a maker of advanced materials and UMBRA Group, a aerospace company.
The final target of the fund is set at €50m.
EUREKA! is a venture capital firm focused on deeptech investments, i.e. in start-ups, spin offs and SMEs connected with Research Centers and Universities and which have the aim of enhancing the results of their scientific research activities on the market, promoting innovative and often frontier technologies that can have a deep impact on people’s lives, in the environment and in the society.
Led by Stefano Peroncini, Chief Executive Officer, Anna Amati, Salvatore Majorana and Massimo Gentili, the fund invests in proof-of-concept, seed and Round A stages of proof-of-concept, spin-offs, startups and SMEs that exploits the Italian research activity in Advanced Materials. It does it by partnering with 22 universities and scientific research centers in Italy, including the Italian Institute of Technology and the Turin Polytechnic.
Eureka! Fund is also supported by Kilometro Rosso and META Group, a provider of the services to enhance the results of scientific research activities.