Monday, March 31, 2014

LVenture eyes capital increase of €5M to back up to 59 startups within the next three years

The holding company of venture capital which finances the LuissEnlabs startups accelerator decided on a capital increase. Target of the VC fund led by Luigi Capello is to triple, by the next three years, the number of incubated neo-digital companies and expand the rooms available for would-be entrepreneurs. Fresh money to continue to grow the newborn companies: LVenture Group, the venture capital firm founded in December 2012 by Luigi Capello to invest in digital startups, has decided to triple the number of the business realities on which to focus within the next 3 years - from the current 21 to up 59 - and simultaneously to broaden the space sof LuissEnlabs accelerator of Rome, of which it is the lender. A project on which it plans to bet a total of €4.99 million.

The holding company, listed on the MTA managed by Borsa Italiana, approved the extraordinary shareholders' meeting for April 30 and May 7, 2014 just to propose the approval of the capital increase for a maximum of €4.99 million within five years from the deliberation. The goal is to gather the needed resources to continue to accelerate the digital startups, financing investments envisaged in the Budget 2014, and the new business plan 2015-2017 approved in February, even through the entry of strategic partners and investors in the LVenture Group shareholding structure.

The group, which until December 2013 had invested more than € 2.5 million in a portfolio of 21 startups, expects to arrive in the two-years period 2015 to 2017 at portfolio of equity investments in 59 companies, up to a total value approximately €11 million.

In particular, according to the company business plan, in 2014 and 2015 will be made "Micro seed" investments with limited financial commitments together with managerial coaching and advisory activities in 24 startups participating in the acceleration program of LuissEnlabs for a financial contribution of up to €60.000 each.

Foreseen are also 22 "Seed"  investments in 22 startups, at an advanced growth stage, characterized by a commitment of more than €100,000 each. In 2016 and 2017 investments will be made "Micro seed" investments in 40 startups and "Seed" investments in  30 startups.

Foreseen is also the expansion on the horizon of the LuissEnlabs accelerator, 2000 square meters of open-space rooms nearby the Termini Station in Rome, and the development of the consulting and training area. All this won't happen immediately, but LVenture explained in an interview with economyup.it, that this will happen gradually with the desire to attract young people from all over Europe and not just Italians.

LVenture starts from a negative balance, because it was born acquiring company in loss (but listed on the Milan Stock Exchange). Since then it has rebounded and now points to growth.

The original article is written in Italian language and available at www.economyup.it

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