Fondo Italiano di Investimento and Azimut launch new fund for technology start-ups
Fondo Italiano di Investimento SGR (FII) has launched Programma 101, a new fund aimed at supporting Italian venture capital in the digital sector.
Italian independent asset management firm Azimut SGR, which has recently been added in Goldman Sachs’ Conviction Buy List, will be a major investor in the fund.
Programma 101 will have a size of €50m and will be managed by investor and entrepreneur Andrea di Camillo. The fund is the first attempt in Italy to connect venture capital initiatives to some of the main business incubators of the digital and technology sector in the country.
Programma 101 is aimed at initiatives between €500,000 and €1.5m and tries to encourage the development technology start-ups in the country.
“Programma 101 represents an important achievement to create a favourable environment for the growth of Italian innovative start-ups,” Luigi Tommasini, FII’s fund of funds manager.
Pietro Giuliani, Azimut’s CEO, also said: “In a stalling situation for Italy, we are pleased to support an initiative such as Programma 101, which is part of Azimut’s wider plans to boost Italian investments and help the country in concrete.”
Programma 101’s future manager di Camillo has also welcomed FII and Azimut initiative as a sign of support of Italian young and innovative entrepreneurship.