Synergo Capital, an independent Private Equity and Venture Capital firm, announces the first closing of its first venture capital fund “Sinergia Venture Fund”, (Fund) with €30 million of assets under management (AuMs) subscribed by private investors, sponsors and fund managers.
Sinergia Venture Fund is focused on investments in innovative technological startups and scaleups, in pre-Series A and Series A stages. The Fund seeks potential target companies already generating revenues based on business models that are “scalable” through target geography and revenue stream expansion ideally in the b2b or b2e arena.
Potential target companies are led by ambitious, visionary entrepreneurs eager to make their companies international leaders, and focused on innovating business, processes, products and/or services through the use of technology.
The technologies of highest interest are: TCP/IP Application Layer, A.I., IoT, Robotics, Blockchain, VR/AR.
The macro-sectors of main interest are: food&agri-tech, digital media, e-commerce, fashion-tech, alternative mobility, smart retailing, med-tech.
The Fund was been conceived by Simone Cremonini and Giacomo Picchetto who, as partners of Synergo Capital and managers of the Fund, bring to the management company and to the target companies of the Fund a rich mix of competences developed in over 40 years of combined experience in investment banking, hedge-fund management, executive management in media, technology, digital & telecommunications companies.
The Fund can count on a variety of leading early investors (sponsors & advisors), including entrepreneurs, managers and consultants from successful companies, such as Urbano Cairo (RCS MediaGroup, Cairo Communication), Marco Casiraghi (ENGECO), Giuseppe Falco (BCG), Pasquale Forte (Eldor Corporation), Stefano Simontacchi (Bonelli Erede with Lombardi), Salvatore Vicari (VVA, Bocconi University).
Sinergia Venture Fund wants to support its portfolio companies with both equity investments and operational and effective support for the growth of their business. Thanks to a proprietary methodology, fund managers can identify – together with the Founders of startups & scaleups – critical factors for success and work together with Founders to best manage them. Moreover, the Fund benefits from the support of sponsors and advisor investors on new business opportunities development.
The Fund is structured as a closed-end, and reserved AIF (alternative investment fund), with a year term and a hard-cap of 150 milion AuMs. Furtermore in certain specific cases depending on the investor’s specific tax status Italian investors may obtain, for their subscribed Fundunits, certain tax benefits provided by current Italian legislation on tax reliefs and deductions for investments in startups and/or innovative SMEs.
During 2020, despite the Covid-19 pandemic, the Sinergia Venture Fund team reviewd ca. 100 potential investments which enabled the team to select a first potential investment target, within the timing of the first closing. The transaction may be completed in a time frame.
Simone Cremonini, Partner of Sinergia Venture Fund and board member of Synergo Capital, commented: “The launch today of Sinergia Venture Fund is the best result I could hope for in 2021 and proof that, with a clear strategy and an excellent execution, one can achieve great results even in turmoil scenarios like the 2020 just ended. In Italy, we have exceptional entrepreneurs with high potential startups: Sinergia Venture Fund is ready to support them with resources and skills in a path for growth”.
Giacomo Picchetto, Partner of Sinergia Venture Fund, said: “The Sinergia Venture Fund project was born through careful reflection, shared with our sponsors, about the venture capital industry in Italy, which has yet express full potential due to the small number of professional investors with adequate capital resources, network and skills needed to help innovative companies in a phase of rapid expansion. Starting from today, we are working to help bridge this gap and realize successful made-in-Italy exits”.
Gabriel Monzon Cortarelli, CEO of Synergo Capital, commented, “The launch of Sinergia Venture Fund is a major milestone for us and marks an important step in the process of developing our investment platforms beyond traditional private equity funds. We are committed in supporting innovative Italian startups in their growth at a time when venture capital investments are so needed urgently. Helping build the startup ecosystem in Italy should be a priority and Sinergia Venture Fund is well positioned to take a leading role in the development of this industry.”
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Synergo Capital is an independent asset management firm founded in 2004 that manages alternative investment funds, with an office in Milan. It manages three closed-end funds raised from leading Italian and international professional investors (Sinergia con Imprenditori, Sinergia II and IPEF IV Italy), with underwritten amounts of over €1 billion. Moreover, Synergo Capital has recently instituted Sinergia III, the first Italian private equity fund with a focus on the internationalization of Italian SMEs towards the United States and Sinergia Venture Fund, the first Italian venture capital fund dedicated to innovative scale-ups, with tax benefits for investors in certain cases.
Synergo Capital’s team is renowned for its track record, wide range of professional skills, and complementary experience and background.