Milan, 17 January 2025
Algebris Investments’ first venture capital initiative, Algebris Climatech (or the “Strategy”) has held its first close, gathering commitments of around €60 million to date from major institutional investors. These include important actors in the Italian pension fund system and CDP Venture Capital as a key investor, through its Technology Transfer Fund and Green Transition Fund-PNRR, which invests assets allocated by the EU through NextGenerationEU. The Fund is part of the firm’s green transition business unit, launched in 2021 and led by Valerio Camerano. It sits alongside the Algebris Green Transition Fund, Algebris’ first private equity fund.
The Strategy has a thematic investment approach, investing in companies related to climate tech and deep tech in key transition industries such as energy, materials, industrials, and food. Algebris Climatech will seek to invest in the most promising projects emanating from sources including university research, and act as a driver supporting portfolio companies into their market expansion phase.
The Strategy, which aims to raise €100 million, will seek to build a focused portfolio of 15-20 positions in climate and deep tech companies with strong growth prospects, high ambition and potential to become category leaders, investing alongside top-tier international co-investors.
The Strategy’s investment management team is composed of Alessandro Santo and Stefano Ferrari, under the leadership of Marco Turchini. With more than 40 years of combined experience as technology investors, as well as founders and managers, the three founders have invested in 50+ startups.
Marco Turchini, Managing Partner at Algebris Climatech, commented: “We are proud to launch the first venture capital initiative of Algebris Investments. We believe that Algebris Climatech is uniquely positioned to seize remarkable opportunities in Europe’s climate and deep tech sectors, thanks to our extensive experience and synergies within the wider Algebris group. Algebris prides itself on investing in strategies in the Italian mid-caps space as well as the green transition. Our aim is to build an international venture capital platform, which is founder friendly and supportive of Italy’s small business growth.”
The Strategy, classified as Article 9 under the EU Sustainable Finance Disclosures Regulation (SFDR), is incorporated as a special limited partnership (société en commandite specialé) under Luxembourg law and restricted to professional investors only.
