Milan, November 21, 2013 - Atlante Seed, VC fund managed by IMI Fondi Chiusi SGR dedicated the Seed and Early stage capital, and Digital Magics, the certified venture incubator of innovative startups listed on AIM Italy, a segment of the Italian Stock Exchange (Borsa Italiana), have signed a framework agreement for the joint development of investment activities in digital startups. The partnership aims to increase the ability of investment for startups selected and incubated by Digital Magics, ensuring adequate financial resources for their development.
Atlante Seed enters the Angel Network of Digital Magics and will be entitled to participate in the seed rounds entering the capital of startups with high growth potential, co-investing in companies proposed by the venture incubator.
This operation is part of the indirect investment plan of Atlante Seed, which in July 2013 entered the share capital of Digital Magics within the listing of the company shares on the AIM Italia.
The Angel Network of Digital Magics plays an active role in the selection and strategy consulting of new ideas and business models: it assesses startups, submits new projects to the incubator - thus creating the birth of the dynamics of corporate venture capital - and offers its expertise and industrial financial resources to promote the growth of startups.
"The agreement with Digital Magics fits with the consistency in our strategy, which aims to build a solid network of collaborations with leading venture incubators and accelerators in order to contribute to the creation of an ecosystem of domestic and foreign technology startups" - says Andrea Ballestri, Investment Director of Atlante Seed - "During its first year of activity, Atlante Seed has already concluded a number of transactions of direct investment in startups, accompanying them on a growth path and value creation. We intend to continue in the activity of scouting and co-investment, exploiting the potential of the international network Intesa Sanpaolo, which we consider a real asset at the disposal of our fund".
"The agreement with a financial partner such as the Intesa Sanpaolo Group, who since years works like us to build the segment of the venture capital , is an important initiative of systemic alliance of the digital Italian supply chain" - said Enrico Gasperini, Founder and President of Digital Magics - "The collaboration between investment funds , incubators and industry operators is vital to the growth of our ecosystem. We created our Angel Network just with this purpose. A community open not only to investors who have already participated in the listing operation of at the Italian Stock Exchange, but also future shareholders and partners".
Atlante Seed, the Intesa Sanpaolo Group's Fund dedicated to the Seed and Early Stage Capital invests in the venture capital of innovative still small, but with high growth potential, with a particular focus on companies operating in sectors high technology. Alongside this activity (direct investment), the Fund also invests in selected business incubators or accelerators specialized in specific sectors (indirect investments). The fund has €10 million under management (€5 million at first closing - July 2011) the investment duration is 12 years + 3 years of grace period and the maximum size of single direct investment is max €0.5 million focusing on innovative business ideas, research spin-offs, high-tech startups and high growth potential SME. The geographic focus is Italy and foreign countries (maximum 25% of the fund equity commitment).
Digital Magics is a certified venture incubator of innovative digital startups, offering contents and services at high technological value. Digital Magics is listed on AIM Italia, the Alternative Capital Market dedicated to small and medium-sized Italian companies with high growth potential, organized and managed by the Italian Stock Exchange. Digital Magics builds and develops Internet startups alongside the founders, investing equity and providing the services of acceleration. It starts from the talents and ideas, transforming them into successful disruptive businesses in the Italian and international digital economy. The incubator promotes the culture of entrepreneurship and risk, contributing to the economic growth and employment for young people. Digital Magics offers services to support innovation, birth and development of digital startups, and supports the search for new private and public investors, Italian and international, that fund the next phases of development. Digital Magics model is one of a kind in Italy and is based on the Digital Magics LAB: being the startup factory of Digital Magics, Digital Magics LAB offers founders and talents the opportunity to be flanked throughout the entire process needed to transform their idea into companies experimenting with formats, business models and disruptive technologies. Being focused upon the seed stage, the Digital Magics LAB identifies and launches new startup companies thanks to the expertise offered by its professionals, as well as its own network. The LAB identifies approximately ten initiatives each year, which digital magics then supports by using the funds generated by the exits and by working with other operations in the industry.