Azimut and Eni Next Team Up on €100M ELTIF for Clean Tech Venture Investments

Azimut and Eni Next Team Up on €100M ELTIF for Clean Tech Venture Investments

(IN BRIEF) Azimut Group and Eni Next will co-launch a €100 million ELTIF in September 2025 to invest in pioneering “clean tech” ventures, particularly U.S. startups scaling decarbonization, energy efficiency, sustainable mobility, and circular-economy solutions. The Luxembourg-based fund, operating under the ELTIF 2.0 framework, will also consider European and other international opportunities. Eni Next will advise on technology selection, while Azimut manages fundraising and cross-border distribution. This initiative marks a further step in Azimut’s and Eni Next’s commitment to driving the energy transition through private capital.

(PRESS RELEASE) MILAN/ LUXEMBOURG 30-Jun-2025 — /EuropaWire/ — Azimut Group and Eni Next have forged a strategic partnership to launch a new European Long Term Investment Fund (ELTIF) dedicated to venture capital investments in transformative energy technologies. Scheduled to debut in September 2025, the Luxembourg-domiciled fund—pending regulatory approval—will draw on Eni Next’s deep sector insights and Azimut’s private markets expertise to back U.S. “clean tech” startups and scale-ups focused on decarbonization, energy efficiency, sustainable mobility, and the circular economy. Subject to ELTIF 2.0 eligibility, it may also deploy capital in promising European and other global ventures.

Targeting €100 million in commitments from both institutional and private investors, the fund combines Azimut’s proven track record in structuring and distributing alternative investment products with Eni Next’s front-line view of emerging energy innovations. Appointed as a key advisor, Eni Next will leverage its international presence and technical acumen to curate high-impact companies, while Azimut ensures seamless cross-border fundraising and fund management.

Clara Andreoletti, CEO of Eni Next, remarked: “Partnering with Azimut gives us a powerful new channel to propel cutting-edge energy startups toward scale. Private capital is essential to accelerate the rollout and commercial viability of next-generation technologies that underpin a sustainable energy future.”

Giorgio Medda, CEO of Azimut Holding, added: “This collaboration underscores our commitment to financial innovation in Italy and beyond. By uniting our private markets capabilities with Eni Next’s technological leadership, we’re offering investors early access to breakthrough energy solutions. This fund will raise our total contributions to the global energy transition and environmental sustainability to over €470 million since 2022.”

Azimut is an independent, global group specializing in asset management across public and private markets, wealth management, investment banking, and fintech, serving private and corporate clients. Listed on the Milan Stock Exchange (AZM.IM), the Group is a leading player in Italy and operates in 20 countries worldwide, with a focus on emerging markets. The shareholder structure includes approximately 2,000 managers, employees, and financial advisors bound by a shareholders’ agreement that controls around 21% of the company, while the remaining shares are in free float. The Group comprises a network of companies active in the management, distribution, and promotion of financial and insurance products, with registered offices in Italy, Australia, Brazil, Chile, China and Hong Kong, Egypt, Ireland, Luxembourg, Morocco, Mexico, Monaco, Portugal, Saudi Arabia, Singapore, Switzerland, Taiwan, Turkey, and the United States.

Eni Next is Eni’s corporate venture capital company, founded in 2019 and headquartered in Boston. Its mission is to identify and invest in startups developing innovative technologies aimed at reducing the carbon footprint in energy production, improving the efficiency of Eni’s industrial operations, and provide cutting-edge digital solutions. Eni Next plays a key role in advancing Eni’s ambitious decarbonization and energy transition objectives.

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Azimut Holding S.p.A.:
http://www.azimut-group.com/

Media Relations
Viviana Merotto
Tel. +39 338 74 96 248
E-mail: viviana.merotto@azimut.it

Maria Laura Sisti
Tel. +39 347 42 82 170
E-mail: sistimarialaura@gmail.com

SOURCE: Eni S.p.A.