Milan-based venture capital firm Panakès Partners has raised 8.5 million euros from Lombardia Venture STEP, the venture capital fund of funds promoted by the Lombardy Region and managed by Finlombarda. The capital will be deployed through a dedicated parallel vehicle focused on medtech and biotech opportunities in Lombardy. The commitment expands Panakès Partners' ability to support innovative startups and scaleups across the region.
A Dedicated Lombardy Vehicle
The newly created Panakès Fund Fondo Parallelo Lombardia will co-invest alongside the main Panakès Fund and Purple Fund. It will target companies operating in Lombardy that are active in life sciences, medtech, and biotech. Eligible companies must demonstrate strong potential for technological innovation, scalable growth, and the capacity to strengthen the regional life sciences ecosystem.
European and Regional Backing
Lombardia Venture STEP is financed by European funds from the PR FESR Lombardy 2021-2027 program and managed by Finlombarda. The fund of funds promotes access to venture capital for innovative companies, with particular attention to startups and scaleups. It supports digital technologies, deep tech, biotechnologies, and clean resource-efficient technologies under specific regional actions.
Alignment with Regional Actions
The investment is consistent with Action 1.6.2 of the PR FESR Lombardy 2021-2027, which targets deep tech and biotech startups and scaleups. It also reflects the broader framework of Action 2.9.2, focused on clean technology ventures. These actions aim to develop critical technologies through venture capital support, matching public resources with private investment capacity.
Founder and Managing Partner Perspective
Diana Saraceni, Founder and Managing Partner of Panakès Partners, described the launch as a further step in supporting promising medtech and biotech startups and scaleups. She emphasized the importance of building an increasingly solid innovation ecosystem in the Lombardy area. Saraceni welcomed the collaboration with the Lombardy Region and Finlombarda as a strategic milestone.
CFO Perspective on Public-Private Capital
Lorenzo Giordano, CFO of Panakès Partners, said the firm considers participation in initiatives like Lombardia Venture STEP strategic. He noted that the Lombardy Region's contribution allows Panakès Partners to expand its investment capacity in medtech and biotech. Giordano stressed that effective collaboration between public and private capital supports the growth of innovative companies in the Lombard territory.
Panakès Partners Profile
Panakès Partners is a venture capital firm based in Milan and founded in 2015 by Fabrizio Landi, Alessio Beverina, and Diana Saraceni. The firm currently manages assets of approximately 300 million euros. It focuses on ambitious companies and teams developing revolutionary technologies and products in the life sciences field, with a presence that supports its regional investment strategy.
Implications for the Regional Ecosystem
The parallel fund is expected to provide targeted equity to Lombardy companies that combine scientific expertise with commercial ambition. It supports the region's goal of developing critical technologies through venture capital mechanisms. The initiative also illustrates how European structural funds can be channeled into early-stage and growth-stage life sciences ventures, an approach that may serve as a replicable model for other Italian regions seeking to strengthen their deep tech and biotech pipelines.
The 8.5 million euro commitment from Lombardia Venture STEP strengthens Panakès Partners' capacity to back life sciences innovation in one of Italy's most dynamic regions. By aligning public and private capital, the initiative aims to accelerate the development of critical technologies in medtech and biotech. Panakès Partners is positioned to translate this support into tangible growth for Lombardy's startup and scaleup ecosystem.