Intesa Sanpaolo Innovation Center and controlled Neva SGR, both part of Intesa Sanpaolo Group, they set up the alternative investment fund Italian closed and reserved type named Fund SIX Innovation Ecosystem Development Fund which aims to support the growth of the Italian innovation ecosystem.
With an initial endowment of 15 million fully subscribed by Intesa Sanpaolo Innovation Center, and a maximum future amount of 50 million euros, reserved for qualified investors, the Fund will invest in collective investment undertakings or other types of vehicles managed by third parties - incubators, accelerators, startup studios, holding companies - which aim to implement of startup research, selection, acceleration and professionalization programs in Italy.
Montagnese: "Fund dedicated to the development of innovative startups"
"By their nature, the funds promoted and managed up to now by our subsidiary Neva SGR cannot allocate the capital of subscribers to less mature realities, such as startups that are born and take their first steps in universities, polytechnics and research centers" , explains Maurice Montagnese, president of Intesa Sanpaolo Innovation Center, adding that the SEI Fund, on the other hand, is "completely dedicated to vehicles which in turn invest in research, selection, acceleration and professionalization programs for promising startups".
First investment of Fondo SEI: 2,5 million to Tech4Planet
The first investment in the amount of 2,5 million euros concerns Tech4Planet, the National Technology Transfer Center for Sustainability created on the initiative of CDP Venture Capital together with the Milan Polytechnic and with the involvement of the Bari and Turin Polytechnics.
