Deep Ocean Capital launches fund dedicated to artificial intelligence
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Invest in artificial intelligence. A must also for Italian venture capital funds. The announcement of Deep Ocean Capital Sgr goes in this direction, launching Deep Blue Ventures, a deep tech fund created to support startups, spin-offs and more generally innovation initiatives in the aerospace sector with a particular focus on AI applied to the healthcare and sustainability sectors.
Fund partners
The fund debuts with an endowment of 40.8 million euros, out of a total funding target of 70 million euro. The first closing was signed by European Investment Fund (EIF) of the EIB Group and by Cdp Venture Capital Sgr through the Technology Transfer fund (as corner investor) together with Blue Ocean Finance and ReItaly21 as investors. Looking ahead, the fund will be open to entry by other subjects, professional and non-professional investors.
The initiative also sees the participation of industrial and institutional partners such as Leonardo, the European Space Agency, the business incubator of the Turin Polytechnic I3P and again the Cnr and the Italian Institute of Technology (IIT). «With Deep Blue Ventures we have opted for an operating model based on the creation of a deep tech and technology transfer ecosystem that involves all the players necessary for the growth of the companies, each of them operating in compliance with their role, but in close synergy with the others» comments Emilia Garito, chairman and co-founder of Deep Ocean Capital Sgr.
Investments
Deep Blue Ventures will focus on phase seed And early stages of young companies, i.e. the path from the stage where companies verify the product-market fit up to the moment in which the organization has built solid foundations to start “scaling” in its growth process.
«Europe and Italy, thanks to their heritage of universities, which are among the best globally, research centers and scientific and industrial ingenuity, are well positioned to support today’s innovators and transform them into great entrepreneurs of tomorrow. We at Deep Ocean Capital are here to seize and accelerate this great wave of innovation», underlines Domenico Nesci, CEO and co-founder of Deep Ocean Capital Sgr.
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