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Venture capital fund aims to boost investment in technology’s early stages
A partnership between Cassa depositi e prestiti Group (CDP) and the European Investment Fund (EIF) has €200 million it aims to invest in technology transfer, said CDP Head of Investment Funds & International Development Marco Zizzo.
“We created an instrument with the objective of boosting venture capital in Italy, specifically in the early stage,” Zizzo said in an interview with EconomyUp, a program on Sky Italia’s Reteeconmy channel (512 on Sky Italia).
With an initial capital of €200 million – half from CDP and half from EIF) - ITAtech will invest in funds dedicated to technology transfer overseen by new or existing asset management companies. With a flexible approach, the fund is open to new investors, Zizzo explained.
Technology transfer is an important resource for Italy – the world’s seventh biggest source of scientific papers. ITAtech aims to create benefits by harnessing the country’s excellence in public and private research.
“We would like to propose ourselves as an agent for change,” Zizzo said. We are focused on a particular phase of venture capital, but there are others. For example, late stage venture capital, in which we would like to be involved. Already this year, there are important initiatives in the works.”
In line with its Business Plan, CDP promotes Italian technology.