May 25, 2022

ClubDealFiduciaria: partnership with Italian Angels for Growth to use ClubDeal Digital Platform

IAG, Italy's largest network of professional business angels investing time and capital for the growth of innovative Italian and international startups, will use the services of ClubDeal Digital Platform to manage future club deals and the activation of fiduciary mandates in a fully digital and remote mode.

The partnership was inaugurated with an initial investment: completed the first round of funding for Built AI, an analytics platform for commercial real estate investments

ClubDealFiduciaria, a 100 percent online fiduciary, announces that it has signed a partnership with Italian Angels for Growth (IAG), the largest network of Italian business angels, particularly active in early-stage financing rounds in companies in the Life Science, Deep Tech, Digital and Fintech sectors.

Through this agreement, IAG simplifies the management of all future club deals through streamlined and cost-effective processes that benefit from the technological expertise and all-digital, seamless, and user-friendly services offered by ClubDealFiduciaria.

ClubDeal Digital Platform, the 100% digital platform, will make it possible to streamline club members' participation in individual club deals and facilitate the administration of holdings and consultation of periodic reporting and accounting for each portfolio company. In addition, the use of the platform will simplify the submission of documentation for tax benefits and the disposal of holdings.

The network, which celebrates 15 years since its establishment this year, has significantly evolved over time from a limited group of business angels to the leading player in Italian seed venture capital. Over time, more than 500 investors have come on board, and today IAG does more than 20 deals each year. This continued growth has driven the move toward a leaner investment model suited to current investment volumes. IAG members have so far adopted the vehicle instrument through a legal entity SRL to finalize club deal investment transactions. This allowed the raising of capital from a multitude of investors in a single entity that could protect the members due to the rights and duties included in the bylaws and shareholders' agreements of the vehicle itself, however, showing some limitations on timing and rigidity of adaptation according to the dynamics of investments.

ClubDealFiduciaria and IAG have already worked together on the first round of funding under the partnership: Built AI, an analytics platform for commercial real estate investments. Through an artificial intelligence-based algorithm capable of processing a huge amount of data, Built AI enables real estate professionals to analyze commercial real estate opportunities more quickly and efficiently, supporting them in their investment decisions.

The funding round for Built AI represents the first deal that kicked off the partnership; ClubDealFiduciaria and IAG are already working on the next ones that will be finalized soon.

"The partnership with ClubDealFiduciaria," comments Leonardo Giagnoni, IAG Managing Director, "represents a step forward in the services offered to our members, particularly in investment management, to make the process of these operations even more efficient. Several in fact are the benefits of the Fiduciaria for individuals or legal entities that invest, including economic convenience, faster investments with different denominations as well as the possibility of moving on a totally digital platform. All this will allow for a streamlining of activities related to investments, the number of which has grown significantly over the years: in fifteen years of activity IAG has analyzed more than 6,500 startups and its members have made more than 100 investments, for a total of more than 300 million euros invested by IAG members and co-investors."

Cristiano Busnardo, President of ClubDealFiduciaria, commented, "The agreement with a prestigious and well-established reality in the world of club deals in Italy such as IAG, represents a confirmation of the validity of our solutions and expertise, and comes a few months after the partnership with Luiss Alumni 4 Growth, announced at the end of 2021. In this case what makes us particularly proud is that the first investment round identified by IAG and supported by the offer of ClubDeal Digital Platform's services and technological competencies has already been successfully carried out, beyond the Italian borders. We are happy to have contributed to the development of a new innovative reality such as Built AI, a UK-based start-up that, thanks to its high-tech services, is able to simplify investment activities in the real estate sector."