The EU-owned European Investment Fund (EIF) and Italian state-owned national promotional institution Cassa depositi e prestiti’s CDP Venture Capital unit renewed their partnership this week, committing €260m ($305m) to tech transfer in Italy.
EIF and CDP are each contributing €130m, with the latter allocating the money through its existing Technology Transfer Fund. The renewed partnership builds on ItaTech, an investment platform launched by the two with up to €200m in 2016.
The Technology Transfer Fund will primarily aim to form national technology transfer hubs across Italy and back highly specialised venture capital funds in the applied agriculture, foodtech, environmental sustainability, robotics, life sciences and aerospace sectors.
Funds that received capital from ItaTech previously include the $70m Poli360 and successor funds to those backed through ItaTech will be eligible for capital through the Technology Transfer Fund.
Enrico Resmini, chief executive and general manager of CDP Venture Capital, said: “Technology transfer is a key step in fostering technology skills, creativity and talent born from research centres and universities, promoting entrepreneurial growth and cooperation with established industry.
“We are extremely proud of this co-investment partnership with the EIF, which will enable the Technology Transfer Fund to substantially increase the resources directed towards the expansion of an ecosystem of venture capital funds dedicated to ensuring these businesses are sustainable, as there is fertile ground for developing the market potential including at international level.”
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
