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Indaco Venture Partners

Europe, Lombardia, Italy, Milan

Description

Indaco Venture Partners is a prominent Italian asset management company based in Milan, specializing in venture capital and growth equity investments. Established to foster innovation within Italy, the firm focuses on high-tech sectors including deep tech, advanced manufacturing, new materials, medtech, electronics, and digital technologies. They manage a diverse portfolio of funds, demonstrating a commitment to supporting the growth of promising Italian startups and scale-ups.

The firm's investment strategy spans various stages, from early-stage to late-stage venture capital and growth equity, allowing them to support companies throughout their development lifecycle. Indaco Venture Partners manages several specialized funds, notably Indaco Ventures II, which closed at €370 million in 2022, and Indaco Ventures I, a €200 million fund launched in 2018. These flagship funds primarily target deep tech companies with significant growth potential. They also manage Indaco Bio, a €90 million fund dedicated to biotech and pharma, and Indaco EIT Digital, focused on digital transformation.

Indaco Venture Partners typically invests in companies that are past the initial seed phase, often participating in Series A, Series B, and later growth rounds. For their Indaco Ventures II fund, the firm explicitly targets initial investments ranging from €5 million to €20 million, with the capacity for substantial follow-on funding to support portfolio companies' continued expansion. Similarly, their Indaco Ventures I fund typically makes initial investments between €3 million and €15 million. This flexible approach enables them to be a significant partner for companies requiring substantial capital to scale operations, expand internationally, or develop new products. Their portfolio reflects a strong focus on innovative solutions with high technological content and market disruption potential within their core sectors.

With a total Assets Under Management (AUM) exceeding €700 million across its various funds, Indaco Venture Partners has established itself as a leading player in the Italian venture capital landscape. The firm leverages its deep industry expertise and extensive network to provide strategic guidance and operational support to its portfolio companies, beyond just capital. Their commitment to fostering a vibrant innovation ecosystem in Italy is evident through their targeted investments in sectors critical for future economic growth and technological advancement.

Investor Profile

Indaco Venture Partners has backed more than 39 startups, with 9 new investments in the last 12 months alone. The firm has led 10 rounds, about 26% of its total and boasts 3 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series A, Series Unknown, Series C rounds (top funding stages).
  • Majority of deals are located in Italy, United Kingdom, Switzerland.
  • Strong thematic focus on Biotechnology, Health Care, Software.
  • Led 4 rounds in the past year.
  • Typical check size: $3.2M – $21.6M.

Stage Focus

  • Series A (23%)
  • Series Unknown (21%)
  • Series C (18%)
  • Series B (15%)
  • Seed (10%)
  • Series D (5%)
  • Post Ipo Equity (3%)
  • Series E (3%)
  • Convertible Note (3%)

Country Focus

  • Italy (67%)
  • United Kingdom (10%)
  • Switzerland (8%)
  • United States (5%)
  • Israel (5%)
  • Denmark (3%)
  • Finland (3%)

Industry Focus

  • Biotechnology
  • Health Care
  • Software
  • Medical
  • Life Science
  • Automotive
  • Information Technology
  • Manufacturing
  • Medical Device
  • Pharmaceutical
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Indaco Venture Partners frequently co-invest with?

Panakes Partners
Europe, Lombardia, Italy, Milano
Co-Investments: 3
Italian Angels for Growth
Europe, Lombardia, Italy, Milan
Co-Investments: 3
ET
Europe, Lazio, Italy, Rome
Co-Investments: 3
Seraphim Space
Europe, England, United Kingdom, London
Co-Investments: 5
Invitalia Ventures
Europe, Lazio, Italy, Rome
Co-Investments: 2
F
Europe, Lombardia, Italy, Milan
Co-Investments: 3
Primo Ventures
Europe, Lombardia, Italy, Milan
Co-Investments: 4
Sofinnova Partners
Europe, Ile-de-France, France, Paris
Co-Investments: 4
CDP Venture Capital
Europe, Lazio, Italy, Rome
Co-Investments: 9
Vertis
Europe, Lombardia, Italy, Milan
Co-Investments: 2

Which angels does Indaco Venture Partners often collaborate with?

GD
Europe, Hainaut, Belgium, Vaulx-lez-tournai
Shared Deals: 2

What are some of recent deals done by Indaco Venture Partners?

Easy Rain

Pordenone, Friuli-Venezia Giulia, Italy

ISRL (Innovative Capital Company)

AutomotiveInnovation ManagementPublic Safety
Series UnknownJul 8, 2025
Amount Raised: $3,048,001
Iama Therapeutics

Genoa, Liguria, Italy

IAMA Therapeutics is a pharmaceutical business that develops novel therapeutics for unmet medical needs in the brain.

BiotechnologyLife ScienceNeurosciencePharmaceutical
Series UnknownApr 16, 2025
Amount Raised: $17,100,526
CamGraPhIC

Cambridge, Cambridgeshire, United Kingdom

CamGraPhIC designs, develops and manufactures photonic circuits for telecoms and datacoms.

ElectronicsManufacturingTelecommunications
Series AMar 24, 2025
Amount Raised: $26,961,998
Valo Therapeutics

Helsinki, Southern Finland, Finland

Valo Therapeutics is an immunotherapy company developing tumour antigen-coated oncolytic viruses as therapeutic vaccines.

BiotechnologyHealth CareMedicalOncologyTherapeutics
Series UnknownMar 10, 2025
Amount Raised: $20,554,162
Newronika

Milan, Lombardia, Italy

Newronika restores brain and body functions with innovative technologies.

BioinformaticsBiotechnologyHealth CareHospitalMedical Device
Series BFeb 13, 2025
Amount Raised: $14,162,506
Easy Rain

Pordenone, Friuli-Venezia Giulia, Italy

ISRL (Innovative Capital Company)

AutomotiveInnovation ManagementPublic Safety
Series UnknownJan 23, 2025
Amount Raised: $2,603,787
TES Pharma

Perugia, Umbria, Italy

TES Pharma is a research-based biopharmaceutical company.

BiotechnologyDeliveryPharmaceuticalTherapeutics
Series ADec 19, 2024
Amount Raised: $5,182,276
D-Orbit

Milan, Lombardia, Italy

D-Orbit is the first in-space transportation company, providing solutions for moving, precise deployment and removing satellites.

AerospaceAutomotiveFleet ManagementInformation TechnologySoftwareTransportation
Series CSep 27, 2024
Amount Raised: $55,857,496
Genespire

Milan, Lombardia, Italy

Genespire is a biotechnology company focused on the development of transformative gene therapies for patients affected by genetic diseases.

BiotechnologyLife Science
Series BSep 24, 2024
Amount Raised: $52,150,538
WISE

Milan, Lombardia, Italy

WISE s.r.l is focused on the fabrication and commercial exploitation of electronic and MEMS devices on stretchable supports for apps.

HardwareSoftware
Series DJul 30, 2024
Amount Raised: $27,063,512