Programma 101, the Milan-based brand venture capital firm focused on early-stage investments in the Italian digital space, has held its first close, as reported by Reuters, at €32 million.
As anticipated back this June subscribers includes Azimut SGR and Fondo Italiano di investimento (FII), which made a €15M investment each in the first fund launched and by serial entrepreneur and VC Andrea Di Camillo, dedicated to investments in the digital space.
Programma 101, which has a fund raising target of €50 million, intends to invest among and €500k and €1.5M in high-tech startup companies. With a past as "business angel" and venture capitalist (has worked together with Elserino Piol in Kiwi), Andrea Di Camillo has built a network of incubators and under his wing there are already potential interesting companies for the fund.
Independent Italian growth private equity investor Ambienta SGR has held a first close for its latest fund Ambienta II on €147.2m out of a total target of €300m, less than six months post launch and above its initial first closing target, which would lead Ambienta to become the largest European fund dedicated to the environmental sector. The fund has considerable additional interest and anticipates further closings to be held in the coming months.
Ambienta SGR led by Nino Tronchetti Provera, with offices in Milan, Munich and London, is focused on the management of private equity funds which have as target companies mainly characterized by interesting growth opportunity whose development drivers are connected with themes like efficient use of natural resources, energy savings, pollution control and efficient waste management/disposal.
The closed commitments come from a broad range of investors, including existing investors re-ups, such as those of Intesa SanPaolo, Poste Vita as well as new Italian and international institutions. Indeed, approximately 44% of the first closing commitments in the fund Ambienta II has been signed by eight new European and North American investors, including the European Investment Fund, Credit Suisse, Hermes, Unigestion and some Americans and Germans family offices. Among the investors of this first round there is also the Italian Investment Fund, which has committed to €30m. This is the first commitment of the Italian Investment Fund to a private equity firm with a sectorial investment strategy.
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