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‘Primo Space’ has Lift-off: First Italian Fund to Invest in Space Economy

27 Jul 2020, 16:58 UTC
‘Primo Space’ has Lift-off: First Italian Fund to Invest in Space Economy
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Primomiglio SGR launches first Italian venture capital fund – ‘Primo Space’ – focusing on space investments, with first closing at €58 million and target size of €80 million.European Investment Fund (EIF) and CDP Venture Capital SGR act as cornerstone investors in the fund, which was developed with the support of the Italian Space Agency.€30 million EIF commitment backed by the new InnovFin Space initiative and the Investment Plan for Europe of the European Commission.

BRUSSELS (European Commission PR) — Italian fund manager Primomiglio announces the first closing of Primo Space, an early stage venture fund focused on space start-ups.

The first closing of Primo Space reached an initial amount of €58 million with contributions of the European Investment Fund (EIB group), CDP Venture Capital SGR through the VenturItaly Fund of Funds, Compagnia di Sanpaolo, Luigi Rossi Luciani S.a.p.a., Banca Sella, in addition to the SGR itself and its key men.

The final target size for the fund is set at €80 million. The EIF’s €30 million commitment in the fund is part of the Investment Plan for Europe, and is supported by Horizon 2020, the European Commission’s Framework Programme for Research and Innovation, and the new InnovFin Space Equity ...

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