Italian VC Eureka! Venture launches deeptech fund with €50 million target

Italian VC EUREKA! Venture has announced its first fund, “Eureka! Fund I – Technology Transfer”, which saw a first close at €38 million and has a final target of €50 million. Anchor investors include Cassa Depositi e Prestiti (CDP) and the European Investment Fund (EIF), which contributed €30 million through the EU’s InnovFin programme. Others include Compagnia di San Paolo, SAES Group and UMBRA Group.

Founded last year by Anna Amati and Stefano Peroncini, the firm claims to be the first Italian VC focused on deeptech startups, spin-offs and SMEs that are connected to research centers and universities. Specifically, the fund will support the development of advanced materials, and more generally applications and technologies related to materials science and engineering, from proof-of-concept to Series A stages.

“University scientific research and industry must talk one to each other, today more than ever, to find a new way to innovate,” says Massimo della Porta, CEO of SAES Group. “Eureka! represents an effective vehicle to connect these two worlds still too far apart, in order to reveal the enormous potential and high quality of our research centers. This deal enhances the Italian ability to create and relaunch real innovation on the market.”

Photo: Eureka! Ventures team, from website

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