Indaco Venture Partners announces the launch of the Indaco Bio – Parallel Lombardia Fund, with a budget of approximately €18.6 million, which benefits from a commitment to contribute from the Lombardy Region’s Lombardia Venture STEP investment fund, financed by European funds under the Lombardy ERDF 2021–2027 Programme (Action 1.6.2 – Development of critical technologies through venture capital support for deep tech and biotech start-ups and scale-ups) and managed by Finlombarda.
In line with the provisions of the Lombardy Venture STEP regional initiative, the Indaco Bio – Parallel Lombardia Fund will systematically co-invest, until 30 June 2029, alongside the Indaco Bio Fund in companies operating in Lombardy that demonstrate strong potential for technological innovation, with a particular focus on the life sciences and biotechnology sectors and, more generally, on the strategic areas identified by the STEP platform.
“The launch of the Indaco Bio – Parallel Lombardia Fund marks an extremely important milestone for Indaco, as it enables us to further strengthen our investment capacity within an already very solid and highly qualified biotech portfolio. At the same time, it enables us to support new opportunities in the life sciences sector, where Lombardy remains one of the most dynamic and competitive ecosystems in Europe, with strong potential for innovation in the biomedical field,” said Elizabeth Robinson, co-founder and vice-president of Indaco, pictured, in a statement.
“We believe it is strategically important to participate in initiatives such as Lombardia Venture STEP, which foster effective collaboration between public and private capital.” “Regional funding is a key factor in strengthening the venture capital ecosystem and expanding investment capacity, whilst supporting the growth of innovative, high-potential businesses and contributing to the region’s competitive development,” adds Davide Turco, co-founder and CEO of Indaco.
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