Pesenti Foundation has signed in 2017 a commitment with Oltre Venture II, accompanied by a side letter aimed at evaluating possible synergies for the development of initiatives to enhance the respective relational and institutional know-how.
Oltre Venture is the first Italian impact investing fund that invests in companies creating innovative solutions with a strong social impact. From early stage to growth, it invests in each phase of development of the company assisting in the various financing rounds.
Luciano Balbo and Lorenzo Allevi – the founders – are pioneers of the concept of “impact investing” in Italy and in Europe (through the EVPA) since the beginning of the 2000s. Oltre Venture I (since 2006) and Oltre Venture II (since 2016) support the development of entrepreneurial projects aimed at creating value for shareholders and the community.
As of December 31st, 2020, the total commitment is equal to € 42.725.000, subscribed by 55 shareholders (of which 14 institutional ones).
As of December 31st,2020 the total amount invested in portfolio companies is equal to € 16.558.120 (net of a divestment cost of € 6.930.651), for 19 portfolio companies.
During the first half of 2020, the Company also completed two divestment transactions (the main one relating to Società and Salute SpA, the company that manages the Santagostino Medical Center).
Impact investing is generally defined as an act of investing in companies that provide, in parallel, financial return as well as positive social or environmental impact. In its modern interpretation, impact investing started 20 years ago with the aim of adopting the competencies of venture capital and private equity to promote solutions with high social impact. Impact investing, in this sense, represents the decisive transition from investments that cause no damage to those that generate a positive impact for all company stakeholders and, more generally speaking, for society as a whole.
With the goal of investing in new solutions aimed at satisfying, efficiently and effectively, certain basic needs of the community, such as health, education, food, environment, housing, employment, management of savings, whilst at the same time generating economic value that is equitably distributed between all the stakeholders, consumers, workers and shareholders.
Oltre II’s portfolio includes about 20 companies, some of which have pioneered their sector in Italy.