Azimut Increases its Stake in Mamacrowd and Launches the Second Venture Capital ELTIF
Luxembourg based Azimut Investments has increased its stake in Mamacrowd. The two companies will soon launch ALICrowd 2, Eltif Pir venture capital vehicle approved at the end of December by the CSSF (Commision de Surveillance du Secteur Financier), with a fundraising target of $40 million (€35 million). The vehicle follows ALIcrowd, Eltif of the same type launched by Azimut and Mamacrowd in March 2021.
Azimut, one of the leading independent operators in asset management in Europe, has risen its stake in Mamacrowd to 50.1%. Mamacrowd is an Italian equity crowdfunding portal that allows investments in Italian SMEs. Azimut has therefore increased the stake it has held in Mamacrowd since 2013, thus strengthening its presence in the Italian equity crowdfunding sector. Following the agreement, three representatives of Azimut’s top management will join Mamacrowd’s board of directors.
Also with a view to strengthening the partnership, the two companies will soon launch ALICrowd 2, Eltif Pir venture capital vehicle approved at the end of December by the CSSF (Commision de Surveillance du Secteur Financier), with a fundraising target of $40 million (€35 million). The vehicle follows ALIcrowd, Eltif of the same type launched by Azimut and Mamacrowd in March 2021.
Dario Giudici, CEO of Mamacrowd, said: “The agreement reached with Azimut represents a milestone in the history of Mamacrowd, allowing it to equip itself with important resources that will be allocated to strengthening the growth process of our platform, which has already started a development plan for its team, including remotely. In a few years, Mamacrowd has managed to become the leader in Italy in equity crowdfunding with over 100,000 registered users and a total collection of over $113 million (€100 million). The decision of an important industrial partner such as Azimut to increase its commitment to our project is both a significant testimony to the good work done and an excellent basis for further growth and the creation of further synergies in addition to those successfully developed so far.”
Gabriele Blei, CEO of the Azimut Group, added: “The strengthening of the partnership with Mamacrowd, with whom we have been collaborating for some time, allows us to diversify and further increase the presence of the Azimut Group in fintech. The ability to raise and deploy funds, in about two years, has allowed Azimut to become a key player in private debt with over 1 billion, combining alternative funds and neofinancing, without being a bank. We expect to develop new products with Mamacrowd that will soon be available to our distribution networks, such as the new ALIcrowd 2, to increase exposure to alternative asset classes and generate positive returns for our customers in the medium term.”
Eltif is not the only private market project launched by Mamacrowd and Azimut: in April 2020 the platform hosted an equity crowdfunding campaign for Azimut Crescimpresa srl, an investment vehicle whose commercial brand is Azimut Sostieni Italia, launched to support with private capital the businesses paralyzed by the health emergency linked to the coronavirus. The campaign had a minimum target of 500 thousand euros and a maximum of 8 million, based on a pre-money valuation of $180,000 (€160,000), and envisaged a minimum investment of 1,500 euros. In the end, it raised $691,000 (€612,000) from 193 investors.
Read more about Azimut and find other important business news with our companion app Born2Invest.
Azimut’s investments in the real economy
Last June, AZ Eltif ALIcrowd, the first venture capital Eltif launched by Azimut, had co-invested one million euros in its first equity crowdfunding campaign on the Italian footwear startup Fessura’s portal Mamacrowd. Thanks to AZ Eltif ALIcrowd’s investment, Fessura’s campaign, with a minimum fundraising target of $565,000 (€500,000) and a maximum of $1.7 million (€1.5 million), went into overfunding, raising $1.28 million (€1.13 million) from 56 investors. The company has a pre-money valuation of $5.65 million (€5 million).
Luxembourg-based Azimut Investments sa in July 2020 launched the first AZ Eltif Ophelia sub-fund on the Italian market, a private equity Eltif aiming to raise $226 million (€200 million). In September 2020, the second sub-fund AZ Eltif Capital Solution was launched, a debt investment vehicle dedicated to distressed companies, which has a funding target of $226 million (€200 million) and leads selected investments in European syndicated bank loans. Then, in January 2021, Azimut and the Peninsula fund jointly launched a new private equity sub-fund, named AZ Eltif Peninsula Tactical Opportunities, which has a funding target of $170 million (€150 million) and conducts strategic investments in significant minority and majority stakes in European listed or unlisted companies, but with a primary focus on Italy.
February 2021 also saw the launch of the Digital Lending sub-fund, a strategy focused on state-guaranteed loans and commercial credits, invested through fintech platforms (loans and invoice financing), which will use artificial intelligence algorithms and big data analysis for continuous risk monitoring, enabling effective and efficient analysis of the evolution of portfolio quality. The sub-fund has a funding target of $282 million (€250 million).
(Featured image by ccfb via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 21]
With car prices predicted to tank, there's an opportunity for affiliates to cash in big. To learn how, all you...
Miwendo Opens Round of €4 Million after Capturing €1.6 Million from Health
In November, Miwendo developed a first clinical study, and will now work on a second, both at the Hospital Clínic...
Coinbase Signs License Agreement to Provide Liquidity and Custody Services with Bitpanda
As Coinbase begins its European expansion, the licensing agreement with Bitpanda serves as a strategic move to capitalize on opportunities...
P&G SGR and UpsideTown Launch Energy Town Fund Dedicated to Renewables
EnergyTown represents an innovation in terms of the target for raising funds on a fintech platform: the first round that...
Cape Verde PM Asks Banks to Change Perception of Financing in Agriculture and Fisheries
POSER was funded at a cost of $36.9M by the Government of Cape Verde, the International Fund for Agricultural Development...
Crypto6 days ago
The Number of Crypto Owners in Turkey Increased by 27%
Cannabis2 weeks ago
Bavaria Wants to Stop Cannabis Legalization in Germany
Crowdfunding3 days ago
Startup Geeks Closes Campaign on CrowdFundMe Raising €945,000
Africa1 week ago
The AfDB, civil society, and the Burkinabe Government in Consultation