Primo Capital has recently launched a new private equity fund called Primo Health, with a target of €120 million. This fund represents a significant expansion of the firm's investment strategy, which has traditionally focused on digital ventures.
Primo Health aims to invest in small and medium-sized enterprises (SMEs) in the healthcare sector, reflecting the growing importance of health innovation in Europe. The fund has already reached its first closing at €64 million, with support from institutions such as the European Investment Fund (EIF), the Italian Investment Fund, and the ENPAM Foundation. This financial backing highlights the recognition of the potential for growth and innovation in the healthcare sector.
Primo Capital's broader strategy includes not only healthcare but also the space economy and climate technologies, demonstrating a diversified approach to investment. With over €500 million in assets committed across various funds, the firm has built a strong portfolio of more than 55 companies. Antonio Concolino, managing director of Primo Capital SGR, emphasizes the firm's commitment to economic development in Italy and its ambition to strengthen international positioning.
The focus on healthcare is timely, as the sector is undergoing significant transformation driven by technological advancements and increasing demand for innovative solutions. The firm's investment strategy aims to create value for investors and the national technology ecosystem, supporting sustainable economic growth. The backing of Primo Health by the EIF under the InvestEU program highlights the strategic importance of the fund in supporting SMEs that contribute to innovation in the healthcare sector.
The management team behind Primo Health, including Andrea Pavero, Carlo Vanoli, and Emiliano Tonelli, brings expertise in navigating the complexities of the healthcare market. Their role is crucial in identifying and nurturing promising SMEs that can make significant contributions to healthcare innovation. As the fund progresses, it is expected to play a pivotal role in shaping the future of healthcare in Europe, aligning with broader trends in health technology and patient care.
Overall, the launch of Primo Health represents a strategic move by Primo Capital to capitalize on opportunities in the healthcare sector. With substantial backing from institutional investors and a clear focus on innovation, the fund is set to make a significant impact on healthcare investment in Europe, fostering a competitive and innovative environment.