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Innogest Capital closes largest early stage fund in Italy

Led by managing partners Claudio Giuliano, formerly at the Carlyle Group, and Marco Pinciroli, formerly at BC Partners, Innogest Capital, the leading Italian Seed and Early Stage fund, has raised €80 million, 33% above its €60 million target.

The fund is focus in providing seed capital exclusively to Italian companies. It is by far the largest early stage capital provider in Italy.

According to Marco Pinciroli, the vehicle has already completed two deals. It invested €1.5 million in the media start-up “TheBlogTV” and led a €5 million round in biomedical company “Silicon Biosystems”.

We were 33% over-subscribed, said Claudio Giuliano, thanks to a combination of strong proprietary deal flow, a favourable momentum in the Italian technology market, and a strong team with experience in making investments from several reputed funds such as Carlyle, BC Partners, 3i, Piemontech. According to Giuliano, sticking to the early stage strategy has been rewarded by investors.

According to Marco Pinciroli, Innogest was capable to turn weaknesses into strengths: Italy is the 6th world’s largest economy with a underdeveloped venture capital industry. Innogest is therefore set to gain from a huge deal flow with almost no competition for deals. Innogest screens about 50 deals per month, 500 per year. This wealth of deal flow is an outstanding asset, according to Marco Pinciroli, and allows Innogest to set top IRR goals for its investor base.

The fund has offices in Torino, Milano and Padova and will be investing in early stage companies mainly in the Northern part of Italy. Main Investment sectors range from Information and Communications Technology, Energy, Biomedical, Advanced Mechanics and New Materials.

Members of the management team include Pietro Busnardo, previously at 3i, Marco Natoli, previously at Piemontech, and Igor Calcio.

Main Investors included Intesa-SanPaolo, Generali Group, European Investment Fund, Fondazione CRT, Fondazione CARIPARO.

Innogest SGR is a founding member of the Italian Venture Capital Hub that gathers the most active VC firms in Italy.

Strategic Partners of Innogest are the Ersel Group, a leading Wealth Management Institution, and Torino Wireless Foundation, the leading ICT technology district.

Silicon Biosystems
Based in Bologna, Silicon Biosystems has developed a set of proprietary solutions called lab-on-a-chip technologies, targeted at miniaturized cell-biology testing. Silicon Biosystems exploits the microelectronics potential in order to produce miniaturized cellular biology laboratories. The approach patented by Silicon Biosystems has given rise to an unprecedented technology platform able to perform complex protocols, since it offers the unique possibility of controlling individual cells and micro-particles inside a micro-chamber. Silicon Biosystems technology individually manages more than 100,000 cells on a single microelectronic chip, using software control and incorporating sensors to detect the results of complex procedures. The company has a reputation for being one of the most innovative start-ups in the field of “lab-on-a-chip” based on active substrates, as testified by a number of awards and recognitions. This approach is relevant to the manipulation of rare cells, wherever it is desired to select and recover a small number of cells expressing specific receptors detected by fluorescent markers. It is possible to select and sort one cell out of 100,000. Easier recovery of rare fetal cells from maternal blood in prenatal diagnosis could be a routine prenatal non-invasive procedure instead of amniocentesis or chorionic villus sampling. It is possible to perform clone picking and isolation of tumor stem cells. By isolating tumor stem cells and studying their interaction with other cell populations within the tumor mass one can characterize tumor stem cells, define their molecular profiles, detect pre-malignant lesions and target new therapies.

Publisher Contact Information:

Innogest SGR
+39 335 6353147

Company profile of Innogest SGR
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