Compagnia di San Paolo, Saes Group and Umbra Group have stepped up for the tech transfer fund, which has now raised $49m so far.

Italy-based venture capital firm Eureka has reached a €40m ($49m) second close of its first technology transfer fund, from limited partners including corporations Compagnia di San Paolo, Saes Group and Umbra Group.

Eureka is targeting €50m for the final close and previously hired Olivia Nicoletti from University of Cambridge’s tech transfer office Cambridge Enterprise as an investment manager.

The fund will invest in deeptech-focused startups and spinouts from, or connected to, 27 research centres and universities in Italy.


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