Monday, September 21, 2015

Innogest announces Capital II final closing at €85M

Innogest SGR has carried out the final closing of the Innogest Capital II fund at about €85M. Thanks to this achievement, that exceeds the original Euro €80M target, Innogest is confirmed as the leading venture capital firm in Italy. Fondo Italiano d’Investimento is among the investors which have supported this closing. 

«We are engaged in supporting and developing leading startups» – said Claudio Giuliano, founder and managing partner of Innogest SGR – «and Fondo Italiano d’Investimento reinforces our ability to support our companies in their growth path with adequate capital investment. We are determined to create a strong ecosystem, also actively co-investing with the most qualified players. We are tuning our areas of specialization in order to better assess business projects, to follow companies with deep domain expertise and to develop steady relationships with the best international technology investors. Along these lines, Innogest keeps growing: in 2015, Michele Novelli as partner and Richard Belluzzo as venture partner, have joined our team. We aim to strengthen our expertise and our network in those areas where innovation is designed and the funds are the best available, Europe and the US in particular».

«Investing in Innogest Capital II» said Gabriele Cappellini, CEO of Fondo Italiano d’Investimento, «is part of our strategy to support the creation in Italy of a steady and unfading venture capital market, through
the investments in funds managed by independent teams. As part of this specific activity, Fondo Italiano d’Investimento, has so far approved investments for about 140 million Euro, spread over 9 different funds. More in detail» Capellini went on to say «the commitment subscribed in Innogest represents the first formal use and application of the new set of funds dedicated to venture capital market, created with the sponsorship of Cassa Depositi e Prestiti, which aims to reach 150 million euros by the first half of 2016»

Innogest invested – with outstanding results – in the medical industry (especially cardiovascular, ophthalmologic and neurological areas) and in digital services industry, with a special focus on areas bordering between technology and traditional sectors of the noteworthy “made in Italy” (digital innovation in food fashion, design).

In 2015 Innogest has invested in activities such Angiodroid, startup that develops injectors using carbon dioxide as a contrast medium in angiography, and Monkey Parking, a company which has created an application for the management of city parking lots.

Strategies of this new fund were led by Claudio Giuliano (engineer, over 20 years of experience in companies, strategic consulting and venture capital, among France, California, UK, Italy) together with Stefano Molino (over 10 years of experience in consulting and finance), Michele Novelli (over 20 years of experience in companies and venture capital), Claudio Rumazza (15 years experience in companies, consulting and finance).

Innogest SGR is an Italian venture capital firm established in 2006 with offices in Milan, Turin and San Francisco. Innogest is the largest Venture Capital firm in Italy focused on seed and early stage ventures and currently manages two funds totaling euro 170 million and mainly invests in high potential and innovative Italian startup companiesthrough a direct share in their equity, able to quickly become globally successful companies. Innogest pays special attention to market potential and size. Innogest leverages its extensive network of contacts, working alongside its partners through its offices in Turin and Milan.

Innogest selects investments with a strong potential for providing a high return, consistent to the risk related to the company development stage. Innogest is committed to supporting its portfolio companies over a long period of time (the average expected holding period is five years) in order to walk together through their full development. Since 2007, Innogest team invested €55M in 28 companies and attracted over €150M of investments in its portfolio companies.

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