Algebris Launches First Climate-focused VC Strategy with €60 Million First Closing
Funding | Feb 04, 2025 | Legal Community Italy
Algebris Investments, a global asset management firm founded by Davide Serra in 2006, has announced the launch of its first venture capital strategy, Algebris Climatech. This strategy has closed its first round of funding at approximately €60 million, with a target of €100 million. Key investors include significant institutional entities and CDP Venture Capital, serving as an anchor investor through its Technology Transfer Fund and Green Transition Fund supported by the EU's NextGeneration EU funds. Ashurst, Aster Avvocati Associati, Legance, and DLA Piper provided Algebris with cross-border and multidisciplinary assistance in fiscal, regulatory, and legal fund management. Algebris Climatech will bolster Algebris's alternative investment unit in the green transition, focusing on sectors like energy, materials, industry, and food, and aims to build a concentrated portfolio of 15-20 positions in tech companies with growth strategies and sector leadership aspirations.
Sectors
- Venture Capital
- Green Technology
- Asset Management
- Legal Services
Geography
- Italy – Algebris Investments is based in Italy, and several law firms involved are also located there.
- European Union – The article mentions the involvement of EU funds through the NextGeneration EU initiative.
- Luxembourg – Luxembourg is relevant because legal teams from this location were involved in providing support.
Industry
- Venture Capital – The article discusses Algebris Investments launching a venture capital strategy focusing on climate technology.
- Green Technology – The article involves Algebris Climatech's investment focus on climate and deep tech, targeting sectors such as energy and materials.
- Asset Management – Algebris Investments is an asset management firm, and the article discusses its strategies in expanding investment portfolios.
- Legal Services – Multiple law firms provided regulatory and legal support for Algebris’s launch of the Climatech strategy.
Financials
- €60 million – The first closing amount of the Algebris Climatech strategy.
- €100 million – The target fundraising amount for the Algebris Climatech strategy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Algebris Investments | Fund Manager | Company | A global asset management firm launching its first venture capital strategy in climate technology. |
| CDP Venture Capital | Anchor Investor | Company | An institutional investor playing a key role in the funding of Algebris Climatech. |
| Ashurst | Legal Advisor | Company | Provided cross-border tax, regulatory, and fund management advice for the launch of Algebris Climatech. |
| Aster Avvocati Associati | Legal Advisor | Company | Assisted Algebris with legal structuring and negotiations with cornerstone investors. |
| Legance | Legal Advisor | Company | Supported Algebris in structuring co-investments of the management team. |
| DLA Piper | Legal Advisor | Company | Advised CDP Venture Capital on all aspects of their investment in the scheme. |
| Davide Serra | Founder | Person | Founder of Algebris Investments. |
| Silvia Corbella | Head of Legal | Person | Head of Legal at Algebris Investments who played a role in the operation. |