H-Farm, one of Italy’s most active startup incubators, is preaparing to list on Borsa Italiana’s Aim italia market this Autumn, MF Milano Finanza wrote yesterday saying that the incubator has already selected its advisors: N+1 Syz (financial advisor), Banca Intermobiliare (Nominated advisor or Nomad) and Unicredit (global coordinator).
Founded by Riccardo Donadon, H-Farm’s capital is now distributed among 34 shareholders. Among them there are Red Circle Investments (16,48%), the investment company of the Rosso family (Diesel jeans); Italy’s insurance group Cattolica Assicurazioni (4,5%), Unicredit (2,72%), Rcs Mediagroup (0,68%), Banca Sella Holding (0,6%), formerly listed Buongiorno (1,2%), Veneto region’s investment company Veneto Sviluppo (3,57%) and weel-known Italian entrepreneurs such as Gianfranco Zoppas (0,68%) and Stefano Parisi (1,36%).
News of a possibile ipo was published first at the end of last April by EconomyUp. Donadon told then to the newssite that he expected an important valuation for its company in order to gain proceeds of about 20 million euros to be invested in startups in the next five years both in italy and abroad.
MF Milano Finanza wrote that in the last few weeks H-Farm issued two convertible bonds: a 15 million euros one, which has been subscribed already by actual shareholders, and a 4 million euro bond.
H-Farm, which manages stakes in 51 startups at the moment, is based in Roncade (Treviso), but is active also in India, UK and Usa.Last July the incubator bought the entire capital of Nuvò (see a previous post by BeBeezi), a digital consulting firm which was controlled by ceo Cristina Mollis and a group of Italian top private equity managers. The investment was not a portfolio investment but a strategic move inorder to strenghten H-Farm’s core business.