EIB and LIFTT Unite in €100 Million Venture to Propel Italian Innovation and Sustainability

EIB and LIFTT Unite in €100 Million Venture to Propel Italian Innovation and Sustainability

(IN BRIEF) The European Investment Bank (EIB) and venture capital firm LIFTT have announced a €100 million partnership to support innovation in Italy. Together, they will create LIFTT EuroInvest, a joint stock company aimed at making 20 to 30 equity investments in Italian startups and SMEs, particularly in sectors like life sciences, cybersecurity, deeptech, and cleantech. The initiative is expected to foster technological innovation, create high-skilled jobs, and encourage sustainable growth by reducing environmental impact.

(PRESS RELEASE) LUXEMBOURG, 9-Sep-2024— /EuropaWire/ — In a significant move to strengthen Italy’s innovation ecosystem, the European Investment Bank (EIB) and venture capital firm LIFTT have announced a €100 million partnership aimed at bolstering investments in cutting-edge sectors. The new initiative, unveiled in Rome, will see the creation of a joint stock company, LIFTT EuroInvest, with each entity contributing €50 million.

LIFTT EuroInvest is set to focus on 20 to 30 equity investments in Italian startups, small and medium-sized enterprises (SMEs), and mid-sized companies that are leading innovations in areas such as life sciences, cybersecurity, deeptech, and cleantech. The initiative also seeks to drive sustainable growth by encouraging companies to reduce their environmental impact.

Gelsomina Vigliotti, Vice-President of the EIB, highlighted the importance of this collaboration, emphasizing its potential to help bridge Europe’s technological gap. She noted that this partnership is more than just financial support; it is a commitment to fostering innovation, creating high-skilled jobs, and enhancing Europe’s competitiveness in key sectors.

LIFTT Chairman Stefano Buono echoed these sentiments, underscoring LIFTT’s expertise in investing in transformative technologies and its alignment with the EIB’s objectives. Buono noted that the initiative would contribute to Europe’s future by helping companies scale up and compete in high-value industries, all while adhering to sustainability goals.

Both the EIB and LIFTT have a strong track record of supporting projects that promote socioeconomic impact and sustainable growth. This new collaboration is expected to further these goals by providing Italian companies with the financial resources and expertise needed to thrive in an increasingly competitive global market.

This partnership represents a key milestone in the ongoing effort to strengthen Italy’s innovation landscape, aligning with broader European objectives for technological advancement and environmental sustainability.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investments that can contribute to EU policy. EIB projects strengthen competitiveness, foster innovation, promote sustainable development and improve social and territorial cohesion while supporting a fair and rapid transition towards climate neutrality. In the past five years, the EIB Group has provided more than €58 billion in financing for projects in Italy.

LIFTT is a not-only-profit investment holding company that aims to offer an innovative and dynamic vision of venture capital applied to technology transfer. Chaired by entrepreneur and scientist Stefano Buono, LIFTT promotes an ESG-inspired ethical business model and boasts over 200 private and institutional investors, including Azimut, the LINKS, Compagnia di San Paolo and CRT Foundations. LIFTT has raised €104.7m to date and has completed 51 investments in innovative startups and SMEs, starting from a pipeline of over 3000 companies operating in all market sectors, with a focus on deeptech. www.liftt.com

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SOURCE: European Investment Bank