In 1H21, Europe’s private equity and venture capital funds invested 57.3 billion euros (41 billion in 1H20 and 47 billion in 2H20), said a report of InvestEurope, the European association of private equity and venture capital, which has been mapping the market since the late 1990s, but considering only the activity of funds based in Europe and therefore excluding from the count of investments those conducted in Europe from funds with a non-European basis (see here a previous post by BeBeez). The growth in investments was driven by the activity of venture capital funds which alone invested 10.2 billion euros in the six months, with an increase of 58% compared to the previous half-year record recorded in the second half of 2020. Investments by specialized growth funds also performed well, doubling volumes to 17.5 billions, in turn marking an all-time high for the six months. The whole year 2020 had seen fundraising for a total of 101 billion euros, down from the record of 114 billions in 2019, but well above the 48 billions in 2000, the first year for which data are available, and above all the minimums at 27-28 billions a year recorded between 2002 and 2004, after the burst of the internet bubble. Investments, on the other hand, stood at 86 billions in 2020, down from the historic highs of 108 billions in 2019, but well above the 35 billions in 2000 and above all the figures below 30 billions recorded between 2002 and 2004. In reality, however, the size of the private equity market in Europe is much larger, if we consider the investment activity of all private equity funds, regardless of their country of residence. In fact, Pitchbook has calculated that all types of private equity funds in Europe in the first six months of 2021 announced 3,824 deals, a figure almost equal to that of the whole of 2020, while in terms of value, the total of transactions was attested to 342.2 billion euros, equal to 81.5% of the total for the entire year 2020 (see here a previous article by BeBeez). We recall that 2020 had recorded 3971 private equity deals, for an amount of 419.7 billion euros, a slight decrease in volumes and value compared to 2019 (see here a previous article by BeBeez).
Neva First, the venture capital fund of Intesa Sanpaolo Innovation Center, raised 180 million euros for its last partial closing out of a total fundraising target of 250 million euro, chairman Luca Remmert and ceo Mario Costantini said (see here a previous post by BeBeez). The final fundraising target is of 250 million by the end of 2021. Compagnia di San Paolo, Cariparo, Carifirenze, and Carilucca invested 50 million, while Intesa committed for 100 millions.
Oltre Impact sgr achieved 53 million euros for the first closing of its Oltre III fund ahead of a fundraising target of 100 millions by 2022 (see here a previous post by BeBeez).The fund attracted the resources of CDP, the European Investment Fund (EIF), who poured 30 million, and other investors. Oltre’s founding partners Luciano Balbo and Lorenzo Allevi appointed Nicola Lambert and Raffaele Fedele as junior partners.
Italian fintech projects attract more resources from investors, said a biennial report of Banca d’Italia that surveyed the operators of the banking system (see here a previous post by BeBeez). In 2021-2022, the expenses for the fintech sector amounted to 530 million euros (456 million in the previous two-year period).
Banca d’Italia, Consob and IVASS set the application window for joining the regulatory sandbox for Italian fintech firms between 15 November, Monday, and 15 January 2022 (see here a previous post by BeBeez). The sandbox will allow the successful applicants to experimenting with innovative solutions under a simplified transitional regime and in constant dialogue with the sectoral authorities.
Italian fintech firm Satispay and cryptocurrencies exchange Young Platform signed a partnership for facilitating the bitcoin trading(see here a previous post by BeBeez). Young Platform users will have the possibility to top up their wallet through Satispay. Andrea Ferrero is the ceo and cofounder of Young Platform. Satispay is one of the scaleups that BeBeez Private Data monitors. Find out here how to subscribe to the Combo Version that includes the reports and the insight views of BeBeez News Premium 12 months for 110 euros per month.
Cdp launched Tech4Planet, a tech transfer national pole for the sustainability sector, together with the Polytechnic Universities of Milan, Turin and Bari (see here a previous post by BeBeez). Cdp allocated 55 million euros for the project to leverage a further 130 million in 4 years.
On 22 November Monday, Italian food order and delivery startup Alfonsino listed on Euronext Growth Milan at 1.6 euros per share (see here a previous post by BeBeez). Alfonsino placed 2.5 million shares through a capital increase and raised 4 million euros while receiving orders for 7.5 million from institutional investors that will obtain free warrants. The company’s pre-money value is 16 million for a market capitalization of 20 million and a 20% publicly traded equity.
Miraitek4.0, a spin-off of Milan Polytechnic University that provided Industrial IoT solutions, attracted an undisclosed investment from Gellify and Azimut Libera Impresa (see here a previous post by BeBeez). Marco Taisch and Sergio Terzi founded Miraitek4.0 in 2018.
US healthcare consultancy firm Alira Health acquired Italy’s digital health company Patchai (see here a previous post by BeBeez). Alessandro Monterosso, Filip Ivancic, Kumara Palanivel, and Daniele Farro founded Patchai in 2018. Novartis Italia is one of the company’s clients. The company raised 2.56 million euros since its foundation.
PINV, an Italian startup that publishing financial software, attracted the resources of Fabrick, an open banking platform of which Banca Sella has 80%, and LVenture Group (see here a previous post by BeBeez). PINV signed a commercial partnership with Fabrick. Vincenzo Di Salvo (ceo), Alessandro Sarzina (cto), Pierre Collura, and Francesco Falanga founded PINV in 2019.
Algor, an Italian startup provider of AI-based e-learning services, issued 180k euros convertible bond that Club degli Investitori subscribed (See here a previous post by BeBeez). Mauro Musarra (ceo), Matteo Tarantino (cto), Fabio Frattin (coo), Giovanni Cioffi (Business Analyst), Antonino Geraci, and Emanuele Gusso (software developer) founded the company in 2020. Algor received the support of I3P, the incubator of Turin Polytechnic University.
ITS Lending, an Italian lending crowdfunding platform with a focus on small towns, started its activities (see here a previous post by BeBeez). Investors will receive yield of 6% and 12% on the invested capital.
Chroma Medicine, a Massachusetts-based biotech startup, acquired Italian competitor Epsilen Bio (see here a previous post by BeBeez). Chroma also raised 125 million US Dollars from Cormorant Asset Management, Casdin Capital, Janus Henderson Investors, Omega Funds, T. Rowe Price Associates, Wellington Management, Atlas Venture, Newpath Partners, and Sofinnova Partners. Angelo Lombardo, Luigi Naldini, Fondazione Telethon, and Ospedale San Raffaele founded Epsilen Bio in 2019.
Wetacoo, an Italian startup for the logistic sector, attracted 750k euros from Lazio Innova, LVenture Group, sector investrs and business angels (See here a previous post by BeBeez). Federico Prugnoli, Pierfrancesco Bosco and Luca Pisano founded the company earlier this year.
Sift, a San Francisco-based cybersecurity company, acquired London’s Keyless, a biometrics company that Andrea Carmignani, Fabian Eberle, Giuseppe Ateniese, and Paolo Gasti founded in 2018 (see here a previous post by BeBeez). The target has sales in the region of 1 million US Dollars and raised 9.5 million since its birth. Keyless attracted the resources of Primoventures, P101, Azimut Libera Impresa, Maire Investments, Fabio Mondini De Focatiis, and Luiss Alumni 4 Growth.
