Sources said to BeBeez that Italy’s D-Orbit, an Italian scaleup for space logistics that in 2022 reportedly called off the business combination with Nasdaq-listed Spac Breeze Holdings, launched a new investment round that already attracted the interest of industry players and financial investors (see here a previous post by BeBeez). The company issued convertible bonds and hybrid instruments between 2022 and March 2023 for up to 100 million euros that attracted the resources of United Ventures, M&F Fund, Cobham (a portfolio company of Advent International), and Asher Aerospace Venture. The sources said that in 2022 the investors converted 30 million worth bonds and hybrid instruments in equity. Earlier in March, the company issued hybrid instruments worth 16 million (see here the shareholders meetings notes available for the subscribers to BeBeez News Premium and BeBeez Private Data). D-Orbit placed a total amount of hybrid instruments worth 60 million (30 million infresh resources, 30 million in bond conversion). The company may launch a capital increase of 50 million or more if it decides to launch an IPO or for a sale on the ground of an enterprise value of 250 – 450 million that will depend on liquidity events. Luca Rossettini and Renato Panesi founded the company in 2011.
FNM, a Milan-listed investor in infrastructures that belongs to Regione Lombardia (57.5%) and Trenitalia (14.74%), invested 10 million euros in the infratech unit of Corporate Partners, a vehicle of CDP Venture Capital born in 2021 that achieved subscriptions for 300 million ahead of a target of 400 million (see here a previous post by BeBeez). In 2021-2025, FNM owns 50% of Italian railways operator Trenord. FNM aims to invest 11 million in tech innovation and data management.
On 1 September, Friday, RINA, an Italian Infrastructure and Engineering company that belongs to Registro Italiano Navale, said it acquired the whole of Cyber Partners, a B-Corp cyber security firm (see here a previous post by BeBeez). RINA already owned 50.1% of Cyber Partners and retained Fivelex Studio legale e Tributario as advisor. The vendors appointed Gianni & Origoni.
Francesco Cracolici, a partner of StarVenture programme of European Bank for Reconstruction and Development (EBRD), launched Nomadic Angel Club, a Business Angels network for Mongolia (see here a previous post by BeBeez). The EBRD and StarVenture invest in funds and coinvest in startups. Cracolici said to BeBeez that he is in charge of recruiting, selection, support, and mentoring of the Mongolian startups since the first day they join the programme.
