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The week in Italian startups - Issue #47
CDP Venture Capital announced its Evolution Fund (Fondo Evoluzione), a €100m fund focused on deep-tech technologies.
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".
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.
This is it for this issue. As always, feedback and comments are welcome!
Oh.. and happy women's day! 💐
Have a great week,