Sunday, October 9, 2011

Atlante Ventures Invests in Yogitech

Atlante Ventures, venture capital fund of the group Intesa Sanpaolo which, as stated on the IMI Funds site, "invests in risk capital of innovative firms with high growth potential, with particular attention to those active in sectors with high technology," has announced to have invested € 1 Million to enter the Yogitech SpA capital, a Pisa-based company specializing in the development of hardware and software improving the safety of electronic devices.

The operation is part of an overall € 1.5 Million capital increase round, which has seen Toscana Ventures, a fund managed by Sici Sgr (asset management fund) as well as current financial shareholder in Yogitech SpA, subscribing the remaining half million euro of the capital increase. 

The investment confirms the credibility of company's growth strategy in the security market for electronic devices. The capital increase will surely support the investment capacity of  Yogitech SpA thus reinforcing the uniqueness of its offer. Among YOGITECH customers there are major international players in the field of semiconductor technologies such as Toshiba, Renesas Electronics and Texas Instruments. Specifically, Toshiba has recently announced the introduction of YOGITECH products in its own product roadmap for automotive. The capital increase will be used to strengthen the engineering part, power up sales and marketing structure to foster growth in international markets.

The key elements that led Atlante Ventures to invest in YOGITECH have been the innovative capacity of the developed technologies and the credibility that its management team has gained at international level in a complex sector as the one of electronics destined to critical functionalities.

According to Massimo Abbagnale, president of Sici Sgr, thanks to this additional investment round, the company will reach important results in the medium-run.

About YOGITECH: YOGITECH is a Pisa-based company, which since its foundation in 2000 has since then specialized in the development of hardware and software solutions to guarantee functional safety of electronic systems for safety critical applications, such as Electric Power Steering, advanced braking systems, airbag and other safety-related systems for automotive, industrial automation, railways and medical devices.

About Atlante Ventures: Atlante Ventures is one of Intesa Sanpaolo's two venture capital funds. It invests in the technological innovation and development of Italian companies. The  Atlante Ventures fund, which began to operate in late 2008, was created with initial assets of € 25 million (all of which was provided by the Intesa Sanpaolo Group). With an expected life of 12 years, the fund is placed to act as an ideal partner for the Italian SME's and start-ups that are developing cutting-edge products and technologies. 

About SICI - SVILUPPO IMPRESA CENTRO ITALIA SGR SpA: SICI - Sviluppo Imprese Centro Italia SGR SpA is an independent management company whose shareholders are Fidi Toscana (the financia company of Tuscany), MPS Capital Services, Casse di Risparmio di Firenze, Prato e San Miniato and Banca Etruria. It operates in the private equity and venture capital markets and it has the main goal to foster development and portfolio companies. SICI currently manages 3 investment funds for a total commitment of € 135 million and there are currently 20 companies in its portfolio. Fondo Toscana Ventures, started its operations in 2004 with a total capital commitment of € 50 millios and so far completed 16 investments and 5 exits.