Primo Space Fund

Primo Space Fund is the first venture capital fund in continental Europe to focus exclusively on the space economy. Closed at over €85 million in 2022, the fund invests in seed-to-early-stage technology spin-offs, startups, and SMEs across four verticals: Space Infrastructure (launch systems, satellites, in-orbit servicing), Space-Enabled Applications (satellite data and connectivity), Space-as-a-Service (Earth observation, connectivity, in-orbit manufacturing), and Space-Enabling Technologies (cybersecurity, robotics, additive manufacturing, advanced materials). The fund targets approximately 25 investments, acting as lead or co-lead investor in Italy (75% of capital) and as a follower in other EU countries, the US, and Israel. It is backed by CDP Venture Capital SGR, the European Investment Fund, and Compagnia di San Paolo, and receives technical due-diligence support from the E. Amaldi Foundation. As the fund's team states, they are 'all about spotting and backing brilliant teams working on the next big thing in space tech' in a market expected to reach $1.8 trillion in sales by 2035.