Novagria Ventures launched with €5.65 million initial investment

Novagria Ventures, a new venture builder focused on innovation in the agri-food sector, has officially been launched. The initiative is promoted by Cdp Venture Capital, Gellify, Mutti, Sipcam Oxon, and Crédit Agricole Italia. Additional partners participating in the initiative include the Emilia-Romagna Region, ART-ER Agency, and Aretè.

Novagria Ventures, in which Gellify — a global innovation factory — will operate as venture builder partner managing the implementation of new initiatives, was established with the objective of fostering the creation and development of innovative companies in the agri-food value chain. The project foresees the establishment of up to six new companies over the next three years, with an initial investment of approximately €5.65 million and prospects for subsequent funding rounds that could mobilize total resources of up to €45 million (Cdp Venture Capital’s Boost Innovation Fund alone foresees further equity investments of up to approximately €25 million).

The new companies are expected to address process and technological gaps in the agri-food chain, aiming to enhance operational efficiency, environmental sustainability, food safety, and the global competitiveness of the sector.

Bird & Bird acted as deal counsel, advising all parties involved in the transaction, with a team composed of partner Calogero Porrello, senior associate Sara Calamitosi, and associate Alice Maria Cuccio.

Mutti was advised by Dentons, with a team led by partner Alessandro Dubini, co-head of the Corporate M&A department in Italy. Gellify was assisted by the international law firm Gianni & Origoni, with a team composed of partners Federico Dettori and Rodrigo Boccioletti, and counsel Matteo Canonico within the Gop4Venture practice area.