Italy-based venture capital firm Eureka has reached a €40m ($49m) second close of its first technology transfer fund, from limited partners including corporations Compagnia di San Paolo, Saes Group and Umbra Group.
Eureka is targeting €50m for the final close and has hired Olivia Nicoletti (pictured) from UK tech transfer office Cambridge Enterprise as an investment manager.
The fund will invest in deeptech-focused startups and spinouts from, or connected to, 27 research centres and universities in Italy.
Davide Malacalza, CEO of Hofima, said: “As an industrial family, we have an interest in frontier technologies and have for many years been shareholders of ASG Superconductors, a leading company in the production of superconducting materials, magnets and systems for the world of research and industry.”
The vehicle’s LPs also include state-backed European Investment Fund (EIF) and Cassa Depositi e Prestiti (CDP) as anchor investors through the ITAtech platform, in addition to the Malacalza’s family office, Hofima.
Italy has been building up its venture ecosystem with the launch of Fondo Nazionale per l’Innovazione as a €1bn programme launched by the Italian government to boost Italian startups and the €500m ENEA Tech transfer fund with four verticals covering climate, healthcare, deeptech and IT.
