TLDR:
- CDP launches a second fund for development of financial infrastructures in venture capital market
- Fund will focus on investing in companies with high rate of innovation
CDP Venture Capital has launched a new fund of funds called FoF VenturItaly II, with a target fundraising of 500 million euros and a maximum size of 700 million. The fund will invest in Venture Capital funds managed by national managers to help strengthen the financial infrastructure of the Italian Venture Capital market. The first closing of the fund was signed by anchor investors Ministry of Business and Made in Italy (Mimit) and Cdp Equity for a total of 475 million euros.
The focus of the fund will be on investing in companies with a high rate of innovation in various technological sectors, including energy transition, aerospace, health, and agritech. The fund aims to create national champions at an international level and generate a leverage effect on the market, attracting a large base of investors. The new FoF VenturItaly II will be managed by Simona Corno and Roberto Parrella under the leadership of Senior Partner Cristina Bini.
According to Agostino Scornajenchi, CEO and general director of Cdp Venture Capital, the financial infrastructure of Venture Capital requires a plurality of managers to support long-term vision for innovative companies. The fund will support the objectives of the 2024-2028 Industrial Plan by allocating 3.3 billion euros to ‘indirect’ investments to support venture capital funds and operators in the sector.
