Milan-based Panakès Partners has raised €8.5 million from Lombardia Venture STEP, a venture capital fund supported by the Lombardy Region in Italy. The fund focuses on investing in companies working in life sciences, medical technology (MedTech), and biotechnology (BioTech).

Lombardia Venture STEP is funded through the European Regional Development Fund under the PR FESR Lombardy 2021–2027 programme and managed by Finlombarda. Its main goal is to improve access to venture capital for innovative businesses in Lombardy, particularly startups and scaleups.

“We consider it strategic to participate in initiatives like Lombardia Venture STEP, which foster effective collaboration between public and private capital: the contribution of the Lombardy Region allows us to expand our investment capacity in MedTech and BioTech, supporting the growth of innovative companies in the Lombard territory,” adds Lorenzo Giordano, CFO of Panakès Partners.

Founded in 2015 by Fabrizio Landi, Alessio Beverina, and Diana Saraceni, Panakès Partners is a venture capital firm based in Milan, Italy. The firm manages around €300 million in assets and invests in ambitious companies developing innovative technologies and products in the life sciences sector.

“We are delighted to launch Panakès Fund – Fondo Parallelo Lombardia together with the Lombardy Region and Finlombarda: a further step in our commitment to supporting the most promising startups and scaleups in MedTech and BioTech, helping to build an increasingly solid innovation ecosystem in the Lombardy area,” says Diana Saraceni, Founder and Managing Partner of Panakès Partners.

The fund aims to support the growth of digital technologies, DeepTech, biotechnology, and clean technologies. It also focuses on renewable energy and solutions that use natural resources more efficiently.

Under Action 1.6.2 of the PR FESR Lombardy 2021–2027 programme, the dedicated investment fund, Panakès Fund – Fondo Parallelo Lombardia, will invest alongside the main Panakès Fund and Purple Fund.