The interest in Nova I, Canova SGR’s first Venture Capital fund, continues to steadily grow. Recently, the soft commitment has seen a further increase confirming the positive trend of investor participation.
This result is particularly significant in a favorable context, where savings managers are increasingly orienting their strategies towards illiquid assets. Various tax advantages are offered, such as deductions equal to 30% of the investment.
A consolidated trend emerges, already evident in 2022 according to a report by Mercer ¹, which revealed several key elements highlighting the attractiveness of illiquid assets for Wealth Managers. 73% of them stated that they have invested, are investing, or are planning to invest in such assets, while 86% indicated private markets and other illiquid asset classes as preferred destinations to obtain higher returns compared to traditional investments.
In summary, illiquid assets represent a significant opportunity to diversify investment portfolios, confirming a market trend that is constantly growing.
Nova I stands out not only for the market dynamics it exploits but also for the solid know-how of its investment team. The initiative is promoted by Alessandro Bruscagin, founder of Canova SGR and renowned entrepreneur from Treviso. Bruscagin boasts over twenty years of experience in the credit, financial, and fund management sectors, giving Nova I experienced and authoritative leadership.
Furthermore, Nova I’s investment team boasts a unique combination of skills and successes. Among the team members is a founder who has successfully led a significant international exit, bringing value to investors and demonstrating a deep understanding of the process of creating and enhancing innovative companies.
In addition, Nova I can rely on a Venture Capitalist with a significant track record in managing a portfolio of over 15 startups. This tangible experience in identifying and supporting high-potential companies adds value to the fund’s investment strategy, providing a unique and valuable perspective in selecting the most promising opportunities in the Venture Capital landscape.
The mix of skills, experiences, and successes of Nova I’s investment team makes it a reliable and competent partner for investors seeking investment opportunities in the Venture Capital market. Nova I is committed to investing mainly in innovative startups, focusing primarily on opportunities in the Italian market. The fund aims to support growing companies through early-stage financing rounds. This strategy allows Nova I to capture the potential of emerging companies and actively contribute to their growth and success.
Unlike most venture capital funds that focus on the early or advanced stages of a startup’s lifecycle, Nova I takes a unique approach by investing in companies that have already identified their target market, with a product in the testing phase and/or already tested, and have already started generating revenue. This phase is characterized by a lower risk component compared to pre-seed investments, while offering attractive profitability.
The SGR’s management team has conducted in-depth analyses that have highlighted the opportunities and challenges specific to this market segment. Startups in the identified phase, in most cases, require reorganization and consolidation to manage the rapid growth they are facing. Additionally, they require greater attention from domestic venture capital funds in preparation for future dialogues with international funds.
It has been observed that these companies need capital to support their growth and development both in the Italian and international markets, in order to expand their customer base and increase revenues. With a targeted focus on this market segment, Nova I is able to offer added value to growing startups, supporting them in consolidating their market position and expanding their activities.
Nova I’s investment policy is characterized by a multisectoral approach, allowing the fund to explore opportunities in a wide range of industrial, commercial, and technological sectors. This targeted diversification enables the fund to mitigate risks and seize the best investment opportunities available on the market.
Currently, the Nova I fund is in the subscription collection phase. The first closing is set once subscriptions reach a total of €30 million. Once the first closing is completed, Nova I will begin the investment period, which will last for 5 years, with the possibility of extending for up to an additional 12 months. The maximum duration of the fund is set at 10 years from the date of the first closing. Canova SGR has the option, with prior consent, to extend the duration of the fund up to two times, for periods not exceeding one year each. This option can be exercised if the complete divestment of investments has not occurred by the original expiration date, or if the extension is deemed appropriate in the interest of investors, taking into account market conditions.
1 https://www.milanofinanza.it/news/i-wealth-manager-preferiscono-gli-asset-illiquidi-cosa-dice-il-report-di-mercer-202210031549065045
