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The week in Italian startups - Issue #47

The week in Italian startups - Issue #47
By Niccolò Sanarico • Issue #47 • View online
My name is Niccolò and this is my digest of what happened last week in the Italian startup ecosystem.
In this issue: new investments in Bipi, Altilia, Epicode, and others. Two new funds announced. A big M&A deal in Italian fintech. VC Hub has a new President. The end of Bio-on.
Enjoy the reading!
See you on the other side,

The Money
New funds
M&A News
Reading this week
Congratulations, Mr. President!
Gianluca Dettori (chairman and founder of Primomiglio SGR), 🇮🇹was elected as new president of VC Hub Italia. The board of the association welcomed also Lucia Faccio, Roberto Magnifico, Alessio Beverina, Fausto Boni, Enrico Pandian, and Stefano Portu.
(disclaimer: I work for Primomiglio SGR)
This is a story of acute business analysis and well-timed short-selling, in a time when GameStop had not yet occurred, and hedge funds would not fear retail investors.
Bio-On was a public company, developing bio-plastics with an environment-friendly attitude. I say “Was” because, in 2019, Quintessential Capital Management released a report calling Bio-on a “castle of cards” built by the management with the goal of “getting rich at the expense of shareholders”.
As you can imagine, 🇮🇹 legal battles ensued, but the management had to give in and the company 🇮🇹 was forced into bankruptcy within a few months.
Bio-on was trading at its peak at a >€1b market capitalization. In May, 🇮🇹the company’s assets (including production facilities, brands, and patents) will be auctioned, with a starting price of €95m.
If you are into bio-plastics, there might be something interesting for you in this auction.
Ending notes
This is it for this issue. As always, feedback and comments are welcome!
Oh.. and happy women’s day! 💐
Have a great week,
Supported by VC Hub Italia
Supported by VC Hub Italia
Did you enjoy this issue?
Niccolò Sanarico

The week in Italian startups is a weekly collection of the most interesting news in the Italian startup ecosystem, with a focus on funding rounds, milestones, major partnerships, and innovation news. The weekly email will be in your inbox on Monday morning(-ish).

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