The Italian Space Agency (Agenzia Spaziale Italiana, ASI) is working at the launch of a venture capital fund targeting 80 million euros of dry powder, of which at least 30% coming from the private sector, to be invested in the growth of the Italian space economy and supply chain. The project was disclosed yesterday by ASI’s chairman Roberto Battiston, during the celebrations for ASI’s 30th birthday at the Tor Vergata University in Rome.
“ASI will take part to the project as a cornerstone investor”, Mr. Battiston said, adding that the fund will be managed by “one of the asset management companies which have been specifically authorized by the Bank of Italy to this kind of investments”.
“We have decided to set up a venture capital fund in Italy to identify and invest in the most promising ideas in the space sector,” Battiston said, adding that “today, ideas, businesses and entrepreneurial skills are developing in Italy and will bring very large results in the coming years and we want to be able to intercept them with these financial instruments “.
