Atlante Seed and Digital Magics team up for technology start-ups
Atlante Seed, the Intesa Sanpaolo Group seed and early capital fund, and Digital Magics, the start-up venture incubator quoted on AIM Italia, have joined forces for the development of investment activities in digital start-ups.
The goal of the partnership is to increase investment capacity for the start-ups selected and incubated by Digital Magics, Intesa Sanpaolo said.
Atlante Seed will join the Digital Magics Angel Network and will have the right to participate in the seed rounds, forming part of the share capital of high growth potential start-ups, co-investing in the companies proposed by the incubator.
The operation is part of an indirect investment plan developed by Atlante Seed, which in July 2013 joined the share capital of Digital Magics when the latter floated on the AIM. The Digital Magics Angel Network plays an active role in the selection of ideas and new businesses and in providing strategic consultancy: it assesses start-ups, proposes new projects to
the incubator – thus generating corporate venture capital dynamics – and provides its industrial expertise and financial resources to assist in the growth of the start-ups.
“The agreement with Digital Magics fits perfectly with our strategy, which seeks to develop a strong network of partnerships with leading venture incubators and accelerators in order to contribute to the creation of an ecosystem of domestic and overseas tech start-ups,” Andrea
Ballestri, Investment Director at Atlante Seed said.
Enrico Gasperini, founder and chairman of Digital Magics, added: “The agreement with a financial partner like the Intesa Sanpaolo Group which, like us, has been working for years to construct the venture capital segment, represents an important alliance for the Italian digital sector.”