Primo Space Fund

Overview

Primo Space Fund is Italy's first venture capital fund dedicated to the space economy, focusing on seed and early-stage investments in space technology companies. The fund aims to enhance the Italian and European space ecosystem by supporting companies that offer innovative solutions to reduce costs and provide disruptive products and services integrating space technologies. It invests 75% of its resources in Italy as a lead investor, with the remaining percentage invested in other European countries, the United States, and Israel as a co-investor. The fund's total target budget is EUR 80 million, with a hard cap target of EUR 100 million. It provides two types of investment: companies in the Seed-Early stage can receive investments ranging from EUR 50,000 to EUR 1 million, while companies in the Scaleup phase can raise between EUR 1 million and EUR 5 million. The maximum limit for a single investment is EUR 5 million, regardless of the Technology Readiness Level (TRL). Primo Space Fund is supported by high-standing professional investors, including CDP Venture Capital SGR S.p.A., European Investment Fund, Compagnia di San Paolo, and other prominent social security and pension funds and family offices. The fund is also supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing. The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities.

Investment Focus

• Companies in Seed-Early stage
• Companies in Scaleup phase

Portfolio Companies