EIF and CDP transfer $208m to Itatech
Posted on 04 January, 2017 by Thierry Heles, editor
Itatech has been set up to provide access to equity funding that supports the commercialisation of research conducted at Italian institutions.
The European Investment Fund (EIF), the investment arm of EU agency European Investment Bank, and Cassa depositi e prestiti (CDP), the state-owned national promotional institution of Italy, have joined forces to launched Itatech with €200m ($208m).
Itatech will act as a dedicated investment platform aimed at tech transfer in Italy, providing access to equity ranging from seed to growth-stage funding. The platform is specifically aimed at supporting the commercialisation of research conducted by domestic research institutions.
The platform will be managed by EIF and will be open to additional investors. Itatech will serve as a vehicle to establish a range of tech transfer investment funds.
Itatech is part of the EIF-NPI Equity Platform, a collaboration launched by EIF to partner national promotional institutions and banks across the EU’s member states. CDP is a founding member of the initiative’s general forum.
Pier Luigi Gilibert, chief executive of EIF, said: “I am very pleased to be signing this important agreement which will enable EIF to leverage on CDP’s local knowledge and access to the Italian market to help develop tech transfer in Italy.
“This is an important milestone in our partnership with CDP and the first joint initiative under the recently launched EIF-NPI Equity Platform.”
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