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.
Algebris Investments
Algebris Investments is an independent global asset manager founded by Davide Serra in 2006. The firm has a historical specialisation in the global financial sector, across equity and credit, and has broadened its expertise to global credit, Italian and sustainable equity. With respect to private strategies, Algebris invests in distressed credit secured by high-end, residential real estate assets in Italy. In 2021, Algebris launched a new business unit in Milan dedicated to investments in the transition towards a greener and more sustainable economy.
Algebris manages around €28 billion of assets as of 30 November 2024. The firm maintains offices in London, Milan, Rome, Zurich, Dublin, Boston, Singapore, and Tokyo. The Algebris team consists of over 175 professionals globally.
For further information, please contact:
algebris@edelmansmithfield.com
Algebris Green Transition Fund, Algebris Climatech Fund I and Algebris Climatech Italian Opportunity Fund (the “AIFs”) are closed-ended partnerships established in Luxembourg as either special limited partnerships (société en commandite specialé) or limited partnerships (société en commandite simple). The AIFs constitute closed-ended alternative investment funds for the purposes of the Alternative Investment Fund Managers Directive (Directive 2011/61/EU) as amended (“AIFMD”). Algebris Investments (Ireland) Limited is authorised and regulated by the Central Bank of Ireland as an alternative investment fund manager under the European Union (Alternative Investment Fund Managers) Regulations, 2013 (as amended). The value of partnership interests in the AIFs (“Interests”) is not guaranteed and the value of such Interests can reduce as well as increase and, therefore the return on investment in the Interests will be variable.
A decision may be taken at any time to terminate the arrangements made for the marketing of the Fund in any EEA Member State in which it is currently marketed pursuant to the passporting procedures of AIFMD in accordance with Article 32a of AIFMD. Please refer to the Memorandum before making any final investment decision. This document is for private circulation only. The information contained in this document is strictly confidential and is only for the use of the person to whom it is sent. The information contained herein may not be reproduced, distributed or published by any recipient for any purpose without the prior written consent of Algebris Investments. The information and opinions contained in this document are for background purposes only, do not purport to be full or complete and do not constitute investment advice. Algebris Investments is not hereby arranging or agreeing to arrange any transaction in any investment whatsoever or otherwise undertaking any activity requiring authorisation under the Financial Services and Markets Act 2000. This document does not constitute or form part of any offer to issue or sell, or any solicitation of an offer to subscribe or purchase, any investment nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore.
This is a marketing communication. Please refer to the information document of the AIF before making any final investment decision.
The decision to invest in the Fund should consider all its objectives and its characteristics described in the relevant information document. Further information on the sustainability related aspects of the Fund is available at https://www.algebris.com/esg/. The Fund is for professional investors only.
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