Indaco Venture Partners sgr announced to have reached its first 95 million euros closing for its Indaco Bio fund, a vehicle for investing in biotech and pharma startups (see here a previous post by BeBeez). Indaco Bio attracted the resources of The European Investment Fund (EIF), CDP Venture Capital, Intesa Sanpaolo, Quaestio, and Inarcassa. Earlier in January, BeBeez quoted Davide Turco, the ceo of Indaco Venture Partners, saying that the fund will focus on Italian targets and look at Europe, North America, and Israel. Indaco Venture Partners belongs to Turco, Elizabeth Robinson and investment directors Antonella Beltrame and Alvise Bonivento (51%), Futura Invest (a vehicle of Fondazione Cariplo, Fondazione Enasarco and other minority shareholders) (24.5%), an Intesa SanPaolo (24.5%).
Thought Machine, a London-based fintech scaleup that signed a partnership with Intesa SanPaolo for developing the digital firm Isybank, raised a Series D round of 160 million US Dollars (see here a previous post by BeBeez). Thought Machine attracted 40 million GBP from Intesa SanPaolo and further resources from lead investor Temasek, Morgan Stanley, Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB. Paul Taylor founded Thought Machine in 2014. The company’s enterprise value amounts to 2.7 billion Dollars.
Ubiquicom, an Italian indoor and outdoor geolocalisation scaleup, raised 3.3 million euros from lead investor Oltre Impact which acquired a 10% of the business, sources said to BeBeez (see here a previous post by BeBeez). The managers of the company also subscribed the capital increase. Ubiquicom is born in 2004 and has sales of 2 million with operative losses of 0.15 million. The company will invest the raised proceeds in its international expansion.
Italian seed capital fund Techshop Primo, a vehicle that The Techshop manages, announced the closing of the investments in Italian software publishers Tiledesk and hlpy (see here a previous post by BeBeez). Techshop Primo poured 600k euros into each asset. The fund aims to raise resources for up to 50 million (including the money it already attracted) for 0.5 – 1 million seed tickets. Andrea Sponziello and Andrea Leo founded Tiledesk in 2000. The company recently hired Michele Pomposo. Valerio Chiaronzi, Graziano Cavallo and Enrico Nosed founded hlpy in 2020. Aurelio Mezzotero and Gianluca D’Agostino founded Techshop Primo in 2021.
Whoosnap, an Italian insurtech startup that owns the brans Insoore, and SIP (Società Italiana Perizie) launched ProXty, a digital manager of property claims (see here a previous post by BeBeez). An Italian provider of insurance services, SIP is an even jv of Gruppo Spada and RDA. Sources said to BeBeez that Whoosnap and Sip are even owners of the newco. Michele Spada will be the chairman of ProXty, while Enrico Scianaro, the founder of Whoosnap, will act as ceo.
iNSQUARED Holding, an investor in tech startups, launched an equity crowdfunding campaign on Backtowork24 to raise 80-350k euros on the ground of a pre-money value of 500k euro (see here a previous post by BeBeez). On 23 May, Monday, the company already attracted 86k euros. Paolo Angelucci invested in iNSQUARED, a company of which already acquired a stake through his family office AFP Capital. Mario Arcella (chairman), Giuseppe Baldissera (vicechairman) and Ronnie Laureana (ceo) founded iNSQUARED in 2018. The holding already invested in 15 companies operating in the proptech, foodtech, fintech, martech, AI, and farmatech sectors. Trusters, Startup Wise Guys, SempliFarma, GoVolt, and QodeUP are some of iNSQUARED’s assets. The holding aims to have a portfolio of 25 startups by the end of 2023. In 2024, iNSQUARED may launch a capital increase ahead of an eventual listing. According to the BeBeez Venture Capital Report 2021 (available for the subscribers to BeBeez News Premium and BeBeez Private Data), 21 investment vehicles raised resources for acquisitions worth 40 million through crowdfunding campaigns in 2021.
