Algebris Investments, a global asset management company founded in 2006 by Davide Serra, has announced the launch of its first venture capital strategy, Algebris Climatech, with an initial closing of approximately 60 million euros and a fundraising target of 100 million euros. Among the investors are significant institutional entities, key players in the pension system, and CDP Venture Capital as the anchor investor, through its Technology Transfer Fund and the Green Transition Fund-PNRR, which utilizes assets allocated by the EU through NextGeneration EU.
Algebris Climatech will strengthen Algebris’ alternative investments business unit in the green transition and will invest at the intersection of climate and deep tech, focusing on key sectors such as energy, materials, industry, and food. Operating also through partnerships with high-level international co-investors, Algebris Climatech will build a concentrated portfolio of 15-20 positions in technology companies with proven growth strategies and the ambition to become leaders in their sectors internationally. Ashurst assisted Algebris regarding the tax, regulatory, and fund management profiles with a cross-border team coordinated from Italy by managing partner Michele Milanese, supported by a Luxembourg team coordinated by office managing partner Arnaud Julien and partner Alexandra Clouté, with senior associate Adnand Sulejmani, associates Thécla Madonna, Edoardo Zoncapè, and Stella Rante, and trainee Irene Tedeschi. Aster Avvocati Associati, with partner Tommaso Pepe, assisted Algebris regarding the legal and regulatory profiles of structuring and negotiating the fund with cornerstone investors.
Legance assisted Algebris and the key managers of the fund, Marco Turchini, Alessandro Santo, and Stefano Ferrari, in structuring the management co-investment, with a team led by partner Giulio Mazzotti, supported by senior associate Francesca Sipala for tax aspects, and partner Barbara Sancisi and associate Valentina Santoni for legal aspects. DLA Piper assisted CDP Venture Capital in all aspects of the investment in the investment scheme, with a cross-border and multidisciplinary team supervised and coordinated by partner Agostino Papa and led by lawyers Nicoletta Alfano and Antonio Castellana Soldano for regulatory profiles, with the support of Agnese Corradino. Partner Andrea Di Dio, assisted by lawyer Valentina Trappolini, handled tax aspects. Partner Jacques Wantz and senior associate Matteo Pogliani, from the Luxembourg office, provided assistance for Luxembourg tax profiles. The legal team of Algebris Investments followed the operation through its internal legal team led by Head of Legal Silvia Corbella, assisted by Silvia Marcolini and Francesco Straface. CDP Venture Capital followed the operation through its internal legal team led by Head Alessandro di Gioia and Head of Legal Affairs for indirect and regulatory investments Elisa Toriello, assisted by Matteo Ferettini.
Algebris Climatech Fund I and Algebris Climatech Italian Opportunity Fund (collectively “Algebris Climatech” or the “AIFs”) are closed partnerships domiciled in Luxembourg and structured as special limited partnerships (société en commandite specialé). The AIFs are closed-end alternative investment funds under the Alternative Investment Fund Managers Directive (EU Directive 2011/61/) and subsequent amendments (“AIFMD”). Algebris Investments (Ireland) Limited is the company authorized to manage the AIF (the “AIFM”). Algebris Investments (Ireland) Limited is authorized 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 interests in the partnership (the “Interests”) is not guaranteed, and the value of such Interests may decrease as well as increase, and therefore, the return on investment in the Interests will be variable.
At any time, it is possible to terminate the agreements made for the marketing of each AIF in any EEA member state where it is currently marketed under the AIFMD passporting procedures, in accordance with Article 32a of the AIFMD. This document is intended for private circulation only. The information contained in this document is strictly confidential and is intended for the exclusive use of the person to whom it is addressed. The information contained in this document may not be reproduced, distributed, or published by any recipient for any reason or purpose without the prior written consent of Algebris Investments. The information and opinions contained in this document are for illustrative purposes only, are not intended to be exhaustive or complete, and do not constitute investment advice. By this document, Algebris Investments is not organizing, nor agreeing to organize, any transaction in any investment nor is it providing any activity that requires specific authorization under the Financial Services and Markets Act 2000. This document does not constitute or form part of any offer to issue or sell, or solicitation of an offer to subscribe for or purchase, any investment, and neither this document nor the fact that it is distributed shall ever constitute the basis for, or be relied upon in connection with, any contract.
This is a marketing communication. Please refer to the AIF’s information document before making a final investment decision. The decision to invest in the AIF should take into account all its objectives and characteristics described in the relevant information document. Further information regarding the sustainability of the AIF is available at https://www.algebris.com/esg. The AIF is reserved exclusively for professional investors.
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The Algebris Group includes Algebris (UK) Limited, Algebris Investments (Ireland) Limited, Algebris Investments (US) Inc., Algebris Investments (Asia) Pte Ltd, Algebris Investments K.K., and other unregulated companies such as specialized vehicle companies (SPVs), entities acting as general partners, and holdings.
