Mediobanca Private Banking has launched the Mediobanca Venture Capital Fund for its clients in Italy.
It is a sub-fund of Russell Investments Alternative Investment ICAV that invests in technology start-ups primarily based in the US.
In addition, it enables Italian private investors to access funds investing in tech companies still in the start-up phase with high growth potential. There will be good diversification across companies at different growth stages and accompany them to their next steps of maturity, such as stock market listing or sales to new investors.
“Illiquid investments are an integral part of our offering, which we are increasingly expanding with innovative solutions”, said Angelo Viganò, head of Mediobanca Private Banking. “We aim to provide a specialised offering complemented with the high-end services that characterises Mediobanca’s Wealth Management. This will contribute to strengthening our position as leader in offering alternative investment solutions.”
“Russell Investments has over 50 years’ experience in Private Markets and a rigorous approach to governance and risk management”, added Luca Gianelle, managing director, Russell Investments Italy. “A distinctive aspect is our ability to select managers by understanding and navigating the complexities and opportunities associated with investing in the Venture Capital ecosystem.”
“A strong history of investments in Venture Capital and a local presence in the USA are vital to gaining access to the opportunities in Silicon Valley: with Russell Investments we offer our clients the potential to gain exposure to the sector through around fifteen of the world best fund managers”, commented Theo Delia-Russell, deputy head of Mediobanca Private Banking and head of products & services.
“This is a great opportunity for an asset class such as Venture Capital, where yield dispersion is substantial and it is very difficult to invest in the highest-calibre funds.”
PBI has noted the biggest fintech funds and deals in January and will continue to do so in this exciting field.