Key Takeaways
- • Panakès Partners has launched the Panakès Fund – Lombardy Parallel Fund, backed by €8.5 million from Lombardia Venture STEP, the Lombardy Region's fund-of-funds.
- • The vehicle will co-invest alongside the main Panakès Fund and Purple Fund in life sciences, medtech and biotech companies operating in Lombardy.
- • Lombardia Venture STEP is financed with European funds under the Lombardy ERDF Operational Programme 2021–2027 and managed by Finlombarda.
- • The investment falls under Action 1.6.2, which supports deep tech and biotech start-ups and scale-ups through venture capital.
Summary
Panakès Partners has announced that it raised €8.5 million from Lombardia Venture STEP, the venture capital fund of funds promoted by the Lombardy Region, according to Startupbusiness.it. The capital is financed with European funds from the Lombardy ERDF Operational Programme 2021–2027 and managed by Finlombarda, the regional finance company that promotes access to risk capital for innovative businesses, particularly start-ups and scale-ups in Lombardy.
The dedicated vehicle, the Panakès Fund – Lombardy Parallel Fund, will co-invest alongside the firm's main Panakès Fund and Purple Fund in companies operating in Lombardy within life sciences, medtech and biotech. Investments are targeted at businesses that demonstrate strong potential for technological innovation. The structure aligns with Action 1.6.2 of the Lombardy ERDF Regional Programme, which funds the development of critical technologies through venture capital support for deep tech and biotech companies. A separate action, 2.9.2, covers clean-tech start-ups and scale-ups.
Diana Saraceni, founder and managing partner of Panakès Partners, said the firm is pleased to launch the fund with Regione Lombardia and Finlombarda, describing it as a further step in supporting the most promising start-ups and scale-ups in medtech and biotech. Lorenzo Giordano, CFO of Panakès Partners, said the Lombardy Region's contribution expands the firm's investment capacity in medtech and biotech, and that public-private collaboration of this kind is strategic.
Additional coverage describes Panakès as a Milan-based life sciences investor. Separately, the firm has previously announced the first closing of a global biotech/medtech fund at €150 million ($180 million), which is a distinct vehicle from the Lombardy parallel fund.
The dedicated vehicle, the Panakès Fund – Lombardy Parallel Fund, will co-invest alongside the firm's main Panakès Fund and Purple Fund in companies operating in Lombardy within life sciences, medtech and biotech. Investments are targeted at businesses that demonstrate strong potential for technological innovation. The structure aligns with Action 1.6.2 of the Lombardy ERDF Regional Programme, which funds the development of critical technologies through venture capital support for deep tech and biotech companies. A separate action, 2.9.2, covers clean-tech start-ups and scale-ups.
Diana Saraceni, founder and managing partner of Panakès Partners, said the firm is pleased to launch the fund with Regione Lombardia and Finlombarda, describing it as a further step in supporting the most promising start-ups and scale-ups in medtech and biotech. Lorenzo Giordano, CFO of Panakès Partners, said the Lombardy Region's contribution expands the firm's investment capacity in medtech and biotech, and that public-private collaboration of this kind is strategic.
Additional coverage describes Panakès as a Milan-based life sciences investor. Separately, the firm has previously announced the first closing of a global biotech/medtech fund at €150 million ($180 million), which is a distinct vehicle from the Lombardy parallel fund.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.