The fund reached this milestone with the support of the European Investment Fund (EIF) whose EUR30 million investment, partially from Cassa Depositi e Prestiti (CDP) resources through the ITAtech platform, is supported by the European Union's InnovFin programme.
EUREKA! is the first independent venture capitalist in Italy focused on deeptech investments, i.e. in start-ups, spin offs and SMEs connected with Research Centres and Universities which have the aim of enhancing the results of their scientific research activities on the market, promoting innovative and often frontier technologies, innovations and technologies that can have a profound impact on people's lives, the environment and society at large.
META Group supports Eureka! Venture and Anna Amati, who is the Vice President of META Group, is one of its fund managers. Read more about Anna's views on the Eureka! fund here.
Eureka! Fund I - Technology Transfer" is focused on investments in Advanced Materials and more generally in applications and technologies related to Materials Science and Engineering. The Fund invests in proof-of-concept, seed and Round A stages, also thanks to the partnership with 22 universities and scientific research centers in Italy.
The European Investment Fund (EIF) and CDP are the anchor investors in Eureka! Fund I through the ITAtech platform, created to support Technology Transfer initiatives capable of enhancing Italian scientific and technological research. Eureka! Fund I has the support of InnovFin Equity - the financial instrument developed under Horizon 2020, the European Union programme for Research and Innovation - and of the European Fund for Strategic Investments (EFSI).
The first closing of Eureka! Fund has reached the initial size of 38 million Euro, thanks to the decisive contribution of EIF and CDP and other institutional investors, such as Compagnia di San Paolo, a bank foundation engaged in supporting innovation in Italy.
Find out more about the Eureka Fund here.