Monday, October 21, 2013

Atlante Venture and Digital Magics join forces to foster the development of the Italian Startup Ecosystem

Atlante Seed, the Intesa Sanpaolo Group Fund managed by the closed-end fund Imi Fondi Chiusi SGR dedicated to seed and Early stage capital, and Digital Magics,  the certified venture incubator of innovative startups listed on the Italia Stock Exchange Aim Italy, have signed framework agreement to jointly develop investment activities  in digital startups . 

The partnership aims to increase investment capacity for the startups selected and incubated by Digital Magics, ensuring adequate financial resources for their development. Atlante Seed will enter the Digital Magics Angel Network thus having the right to participate in seed rounds entering the capital for high growth potential startups, co- investing in companies proposed incubator. This operation is part of the indirect investment plan of Atlante Seed, who in July 2013, entered in the share capital of Digital Magics in the context of the listing of the shares of the company, on the AIM Italia segment of the Italian Stock Exchange. The Angel Network of Digital Magics has an active role in the selection and strategic advice of startups and new ideas: it assesses startups, submits the new projects the incubator - thus creating the birth of the dynamics of corporate venture capital - and offers its industrial skills and financial resources to facilitate the growth of the startups.