‘Primo Space’ has Lift-off: First Italian Fund to Invest in Space Economy

  • Primomiglio SGR launches first Italian venture capital fund – ‘Primo Space’ – focusing on space investments, with first closing at €58 million and target size of €80 million.
  • European Investment Fund (EIF) and CDP Venture Capital SGR act as cornerstone investors in the fund, which was developed with the support of the Italian Space Agency.
  • €30 million EIF commitment backed by the new InnovFin Space initiative and the Investment Plan for Europe of the European Commission.

BRUSSELS (European Commission PR) — Italian fund manager Primomiglio  announces the first closing of Primo Space, an early stage venture fund focused on space start-ups.

The first closing of Primo Space reached an initial amount of €58 million with contributions of the European Investment Fund (EIB group), CDP Venture Capital SGR through the VenturItaly Fund of Funds, Compagnia di Sanpaolo, Luigi Rossi Luciani S.a.p.a., Banca Sella, in addition to the SGR itself and its key men.

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European Commission, EIB Group Invest EUR 200 Million in Space Sector

Artist’s view of the configuration of Ariane 6 using four boosters (A64) (Credit: ESA – D. Ducros)
  • EUR 100 million contingent loan for the new Ariane 6 launcher programme, a European Space Agency programme with ArianeGroup as Industrial lead contractor and design authority
  • First EUR 100 million venture capital programme under InnovFin to support innovation and growth of European smaller and medium-sized space technology companies

LUXEMBOURG (EIB PR) — The European Commission is partnering with the European Investment Bank Group, announcing EUR 200 million of investments into the EU space sector, supporting ground-breaking innovation in the industry. During the European Space Policy Conference  in Brussels, EIB Vice-President Ambroise Fayolle is signing an agreement with André-Hubert Roussel, CEO of ArianeGroup, confirming a EUR 100 million loan for the new Ariane 6 launcher programme.

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