WHO WE ARE


Principia SGR

Principia SGR, set up in 2002, is one of the major Venture Capital Firms in Italy. Currently, SGR is managing three investment funds, called Principia Fund, Principia II and Principia III - Health. By means of the first two funds above – to the present day fully invested – Principia has financed almost 40 Companies operating in start-up capital and expansion capital (i.e. early stage private equity)... more


Principia Fund has completed the investment period and has already started the disposal of the assets in the portfolio, which is nowadays composed by a residual investment. Principia II Fund, currently in the management and exploitation phase, is based on an investment strategy focusing on “the digital sector” and, due to public policy (DIT-DigItalia is a co-investor for 50%), it invested in projects based in the central and southern Regions in Italy. In the second half of 2014, Principia made the first closing of its third Fund, Principia III – Health, raising 160 million Euros. Principia III – Health is specifically devoted to Venture and Growth capital investments in the Healthcare Sector. Investments shall be done either on the base of a qualified majority or qualified minority in enterprises both in the start-up/early stage phase and in small and medium-sized businesses (“PMI”). The primary objective of Principia III – Health shall be the contribution to the development of a sector which, in Italy, suffers from a lack of financial support even though it is characterized by the presence of competences of the utmost quality as it is internationally recognized

Investment Strategy

We prefer an industrial approach qualified by the sharing and transfer of work experience and aiming to sustain the development of the enterprises we invest in... more


Our approach therefore has the following characteristics: • The commitment of the management is a fundamental aspect and a key factor in the success of operations;
• We support Companies and entrepreneurs by providing competences not limited to the financial field;
• We favor the growth of the most promising start-ups aiming to make them become successful businesses;
With particular reference to our third fund, Principia III – Health, we consider the following elements to be the fundamental bases of our Investment Philosophy:
• We focus on expert and/or highly specialized management whose commitment is essential to us and should possibly be demonstrated also through a participation in the financial investments;
• We focus on value creation through the implementation of a sound business plan; We invest in both controlling and non-controlling interests;
• Capital increase, project financing, internationalization and business development operations shall be preferred;
• The exit strategy from participation in funds shall be clear and established;
• We focus on start-ups and on small and medium-sized businesses (PMI) with a turnover not exceeding Euros 50 ml;
• We focus on Companies which own sound patent rights.

Areas of investment

Our new Fund, Principia III – Health, represents the first Italian Venture Capital and Growth Capital, specifically devoted to the Healthcare sector. Principia III – Health acquires both qualified majority and qualified minority equities, in target companies with high innovative contents including startups, industrial and academic spin-offs, expanding industries and PMI. The target companies are selected among companies active in the following specific areas... more


• Biomedical technologies (for example, medical devices for diagnosis, surgery, therapy and rehabilitation, artificial organs and prostheses);
• Products and digital services for health and care of the health (for example, e-health, medical technology customizing therapies, remote diagnostics);
• Acceleration of Entrepreneurial Initiatives and trade in the medical-health field (spin-off and start-up accelerator) for universities, research centers, organizations and research units of large hospital institutions.
• Therapies and regenerative medicine technologies;
• Pharmaceutical Biotechnology;
• Molecular Medicine;
• Genetic engineering;
• Nutraceuticals, Nutritional components with healing properties (proven);
• Technological Infrastructures in the medical-hospital environment, infrastructure networks and large Instruments.

Board of directors:

Avv. Michele Giardino - Chairman
Dott. Antonio Falcone - C.E.O. and Vice-President
Dott. Fernando Fucinese - Director
Prof. Alberto Silvani - Director
Avv. Eugenio Tranchino - Director
Board of Auditors
Prof. Massimo Spisni - Chairman
Dott. Carlo Conte - Auditor
Dott. Enrico Proia - Auditor

Partners:

Humphrey Nokes
CNR
BNC Foundation
Antonio Falcone

Advisory Board

Alberto Mantovani: Scientific Director of “Humanitas” Foundation for Research; Tenured Professor of General Pathology at the Faculty of Medicine and Surgery in the University of Milan.
Marco Salvatore: Tenured Professor of Diagnostic Imaging and Radiotherapy at the Faculty of Medicine and Surgery in the University of Naples ’Federico II’.
Alberto Sangiovanni Vincentelli: A Member of the National Research Council (CNR) and of several other International Committees; Chair for Electrical Engineering and Computer Science in California (Berkeley).
Eugenio Guglielmelli: Pro-Vice Chancellor for Research and in Charge of the Unity of Biomedical Robotic Research and Bio-microsystems at Bio-Medical Campus, University of Rome.
Vittorino Lanza: a Member of the Board of the National Pension Fund for BCC Personnel.
Pasquale Pierimarchi M.D.: Support and advisory activities- Researcher at National Research Council (CNR), Expert in Regulatory Science in Biomedicine.

FUNDS


Principia Fund

Principia Fund is a generalist fund dedicated to investments in innovative enterprises based on academic or industrial research. The Fund, which is currently in the phase of disposal of the assets in the participatory portfolio, has already invested and divested and has, as of today, one single participation in Banzai S.p.a., recently listed on MTA managed by the Italian Stock Exchange. Principia Fund has been the protagonist in one of the most important exits in the history of the Italian Venture Capital, with the cession of EOS S.p.a. to Clovis INC. in 2013.

Principia II

Principia II is dedicated to innovative enterprises based in the central and southern Regions in Italy. The investments of this Fund are focused on process and product innovations obtained through digital technology. As of today, the Fund, fully invested, counts almost 20 companies in its portfolio, among them is Doveconviene which has recently concluded one of the most important B-rounds for an Italian start-up, raising more than € 5 m.

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Principia III - Health

Principia III – Health is the first Italian Fund specifically devoted to the Healthcare Sector. This Fund acquires participation of qualified majority or qualified minority in enterprises both in the start-up/early stage phase and in small and medium-sized businesses (“PMI”). The volume of the Fund at this day is of €206m.

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TEAM


Antonio Falcone manages the Funds and SGR. He is assisted in the investment activities by Alessandro Damiano, Stefania Petruccioli, Paolo D. Siviero, Alessia Rigoni, Piero Angelone, Michele Fodde and Adriana Piccitto. To complete the team, Stefano Ronchi, CFO, Giacomo Francesconi take care of the Administrative Activities while Giada La Micela is the Office Manager. Eleonora Granata manages the Executive Secretary and the Communication and Marketing activities.


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CONTACTS


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Principia SGR

Via Pietro Mascagni n.20
20122 Milano, Italia
P.i. 03629920962