Italian startup TIM, United Ventures launch €150m capital fund to support investments in mature innovative enterprises
Italian startup TIM , through its company dedicated to Corporate Venture Capital TIM Ventures, signed an agreement with United Ventures, independent venture capital manager specialized in investments in digital technologies founded by Paolo Gesess and Massimiliano Magrini, to launch UV T- Growth fund that will support investments in mature innovative enterprises and SMEs in order to develop technological projects in Italy and abroad, with particular focus on 5G technology. Thanks to this operation, TIM Ventures strengthens its strategy in the world of Venture Capital with a view to creating more synergies and collaboration opportunities with the innovation ecosystem.
UV T-Growth will invest in innovative "late stage '" companies mainly in Italy and Europe. The technological areas will be in line with TIM's 5G strategies, through the development of c loud solutions , internet of things , edge computing , artificial intelligence, virtual reality, augmented reality and cyber security applications and mobile payment systems . All with the aim of creating new services, among others, for the Smart City , the Smart home , the school and the world of work .
Once the fund has been set up, TIM Ventures will subscribe for 60 million euros of UV T-Growth, which has a target of 150 million euros. The new fund will also be open to other Italian and foreign institutional investors and will be managed independently by United Ventures. TIM Ventures will make its resources and strategic assets available to the fund, while an independent team, selected by United Ventures, will take care of the management.
Giovanni Ronca, Chief Financial Officer of TIM said: "TIM forcefully relaunched its presence in the venture capital market alongside a standing partners such as United Ventures. With the launch of UV T-Growth we are committed to promoting the growth of 5G in Italy, which will be the enabling technology of citizens and businesses in the coming years. And not only that: we focus on a wide range of digital investment verticals. We believe that venture capital is the right tool to accelerate innovation. We are convinced that with this initiative we will stimulate further competitiveness, boosting new investments and confirming our support for the development of digital technology in the country.''
Massimiliano Magrini and Paolo Gesess, founders and managing partners of United Ventures said: “The launch of UV T-Growth is an important milestone for United Ventures and for the entire Italian innovation ecosystem, which thanks to this new fund becomes more strong and increasingly integrated into its components. With UV T-Growth we intend to identify projects with high growth potential and strong technological content. We are happy to be able to do it alongside TIM, a player who has made the history of technology in our country, and who today is a virtuous example of a big corporation that turns to Venture Capital as an innovation tool.''
Deloitte Disruptive M&A as financial advisor to TIM were advisors of the transaction; CMS as TIM legal advisor; K&L Gates as legal adviser for United Ventures.