Finlombarda
Regional financial company subject to direction and coordination of Regione Lombardia
Also known as Finlombarda S.p.A.
Milan financial company of Regione Lombardia (since 1971); manages the Lombardia Venture and Lombardia Venture STEP funds of funds that commit ERDF money to VC funds’ Lombardy parallel vehicles.
- HEADQUARTERS
- Milan, Italy
- FOUNDED
- 1971
- AUM
- —
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 2 people
Focus
- STAGES
- Series ASeries BGrowth
- ASSET MIX
- Funds (as LP)Venture capital
- GEOGRAPHY
- Italy
Investment arms & vehicles
- €40M regional fund of funds (PR Lombardia FESR 2021-2027) managed by Finlombarda; minority commitments in VC funds backing Lombardy deep-tech start-ups and scale-ups
- About €101M regional fund of funds (PR Lombardia FESR 2021-2027) managed by Finlombarda for deep-tech, biotech and clean-tech companies under the EU STEP strategy
Overview
Finlombarda S.p.A. is the financial company of Regione Lombardia and a financial intermediary supervised by the Banca d’Italia, implementing regional development programmes since 1971 through loans, guarantees and grants. Its equity activity is indirect: after the Next fund of funds (2004) and the AlpGIP platform (2017), it manages two ERDF-funded funds of funds, Lombardia Venture (2022, €40M) and Lombardia Venture STEP (2025, about €101M), which take minority stakes in venture funds selected by public call. Committed managers include 360 Capital, United Ventures, Indaco, Claris Ventures, Panakes Partners and Neva SGR.
Investment thesis
Minority commitments to venture funds (typically through Lombardy parallel funds) that invest in Lombardy deep-tech start-ups and scale-ups (excluding pre-seed and seed for Lombardia Venture) and, under Lombardia Venture STEP, in large companies and SMEs developing critical deep-tech, biotech and clean-tech technologies.
PORTFOLIO (8)
- 360 Capital Italia SICAF / LV360 parallel fund (Lombardia Venture, €10M)Deep Tech
- United Ventures III / United Ventures III Lombardia (Lombardia Venture, €14.589M)Software & SaaS
- Indaco Ventures I / Parallel Lombardia (Lombardia Venture, €14.589M)Deep Tech
- POLI360 2 / LV 360 2 (Lombardia Venture STEP, €15M)Deep Tech
- Indaco Bio Fund / Indaco BIO Lombardia (Lombardia Venture STEP, €20M)Biotech & Life Sciences
- Claris Biotech I–II / Claris Biotech Lombardia (Lombardia Venture STEP, €10M)Biotech & Life Sciences
- Panakes Fund / Panakes Fund – Fondo Parallelo Lombardia EuVECA (Lombardia Venture STEP, €8.5M)HealthTech
- Neva II / Fondo Neva II – Parallelo Lombardia (Lombardia Venture STEP, €20M)Climate & Energy
People
Links
Frequently asked questions
Finlombarda is a government-backed fund based in Milan, Italy, founded in 1971.
Finlombarda does not primarily put its own money into private companies. It also commits capital to third-party funds as an LP.
Finlombarda invests at Series A, Series B and Growth stages in Deep Tech, Biotech & Life Sciences, Climate & Energy, HealthTech and Artificial Intelligence.
Key people at Finlombarda include Andrea Mascetti (Chairman) and Giovanni Rallo (General Manager).
Finlombarda's investments include 360 Capital Italia SICAF / LV360 parallel fund (Lombardia Venture, €10M), United Ventures III / United Ventures III Lombardia (Lombardia Venture, €14.589M), Indaco Ventures I / Parallel Lombardia (Lombardia Venture, €14.589M), POLI360 2 / LV 360 2 (Lombardia Venture STEP, €15M), Indaco Bio Fund / Indaco BIO Lombardia (Lombardia Venture STEP, €20M), Claris Biotech I–II / Claris Biotech Lombardia (Lombardia Venture STEP, €10M), Panakes Fund / Panakes Fund – Fondo Parallelo Lombardia EuVECA (Lombardia Venture STEP, €8.5M) and Neva II / Fondo Neva II – Parallelo Lombardia (Lombardia Venture STEP, €20M).
No. Finlombarda invests its own capital and does not raise money from outside investors.