Fondaco SGR, which today manages a client portfolio of 15 billion, has made a partnership with Ersel SIM to collaborate in the creation and management of a thematic fund dedicated to innovation: Fondaco Global PE II is dedicated to investments in private markets and was launched in March last year.
The two investors, together with ten partners, have already raised and invested €100 million in 250 companies in Europe, the United States and Australia such as the 100% online bank Revolut, the Nasdaq-listed online meme stock broker Robinhood , the $40 billion online graphic design platform Canva, the 3D printed space rocket company Relativity. The portfolio companies provided the fund with a 70% annualized net return, with a return multiple of 1.6 times, which is unusual for a portfolio created so recently.
Andrea Rotti, CEO of Ersel, commented: "With this initiative, in joint effort with Fondaco, the Ersel Group has given its private clients access to an investment program that has very high quality characteristics, normally reserved for large institutional investors".
Fondaco SGR, chaired by Alberto Dal Poz and led by Davide Tinelli, has among its investors 27 non-profit organizations, 5 pension funds, 4 insurance companies and other institutional investors for a total of 46 investors. "There has been a formidable, almost exponential growth in the number of private market managers, today it's quality and who comes first that counts," adds CEO Tinelli. "That's why we see Ersel as a long-term partner: we offer them exposure to a high-quality institutional portfolio, with an international approach, cultural proximity and service."
From Fondaco's perspective, tech companies like those already named got a considerable boost during lockdown periods but are maintaining their performance over time even after restrictions ended: "We have exposure to companies that benefited from pandemic conditions, I'm thinking of smart workers who adopted Canva en masse. Pandemic made 10 years happen in 10 months, we believe these ongoing trends will remain."
