Italian VC Innogest Capital announces second closing at 70 millions euros

Pubblicato il 05 Nov 2014

Today in a note Innogest SGR announces the Second Closing of Innogest Capital II fund at € 70 million (around $90M million). Innogest Capital II is the second fund raised by Innogest SGR. Total capital under management currently amounts to over € 160 million (over $200 million).

New investors contributing to the Second Closing include the European Investment Fund and some leading industry experts in the firm’s areas of interest, that joined existing private and institutional investors as well as Fondo Nazionale dell’Innovazione.

Innogest SGR is leading Venture Capital fund in Italy with offices in Milano and Torino. Its investment strategy targets Italian companies with global ambitions, with specific focus on two areas of interest: ICT/Digital and Medical Technologies. Since 2007 the Innogest team invested in 24 companies, 4 of which through its current Innogest Capital II fund, and helped its portfolio companies in raising over € 120 million in co-investments.

“The commitments received by the European Investment Fund and by so many qualified investors make us extremely proud, and confirms the feeling that Italy based start-ups represents an opportunity in the European venture capital ecosystem” – says Claudio Giuliano, founder and managing partner of Innogest SGR, in the photo – “Yet, it takes an incredible amount of capital, expertise and reach to build global companies. We are building an un-paralleled network of investors and experts: through them Innogest SGR is best positioned to create industrial value and provide high returns to its investors”.

Industry focus is both Innogest’s creed and a necessity to support effectively the growth of our portfolio: Stefano Molino is leading the effort to bring together experts and network around the ICT/Digital arena. Claudio Rumazza is leading the effort to build an industrial/medical practice.

Innogest investment team built a sound experience in financing and supporting dynamic and innovative entrepreneurs and in transforming Italian start-ups into global leaders. A recent example of that is the acquisition by Menarini Group of Silicon Biosystems, an Innogest Capital portfolio company that developed a technology to isolate and manipulate circulating rare cells, for which Innogest SGR was awarded with the 2013 edition of the “Premio Claudio Demattè – Private Equity of the Year” in the Early Stage category.

Since the first Closing of Innogest Capital II in April 2013, Innogest invested in NEW VISION (the company’s 4ME suite, a SaaS platform that makes easy and intuitive for IT and Marketing functions to manage, store, publish and trace media content across any media and social channel), WITHFOUNDERS (digital startup accelerator founded by six Italian serial entrepreneurs, led by Giulio Valiante), FORMABILIO (online brand made of pieces of furniture designed by independent designers and selected through a contest-based model, leveraging a community of 100.000 design fans), ATRICATH (medtech company developing a patent pending catheter for pulmonary vein ablation to treat atrial fibrillation). After this closing, Innogest is ready to step up its investment activities in the next years.

Some of the companies backed through Innogest’s previous fund include ERYDEL (red-cell based therapeutic and diagnostic solutions), HT (global market and technology leader in security solutions for law-enforcement agencies), IGEA (European leader in electrochemotherapy for cancer treatment), BEINTOO (provider of mobile loyalty and gamified ads solutions), SAVELLI (the global ultra-luxury smartphone specifically designed for women), Userfarm (leading video crowdsourcing platform in Europe).

(photo credits for Money Pot)

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