Indaco Venture Partners

Indaco was founded in 2016 as an independent spinout from Menarini, the Italian pharmaceutical and diagnostics conglomerate. Davide Turco and his partners had previously managed corporate venture activities inside Menarini. The firm operates as a fully independent SGR regulated by Banca d'Italia, but retains a strategic relationship with Menarini that generates deal-flow advantages in life sciences.

Indaco runs multiple funds. Its flagship venture strategy sits inside Indaco Ventures I, II and III, targeting technology, industrial and digital health companies. Separately, Indaco Bio is a dedicated biotech fund focused on early-stage therapeutics and diagnostics. The two strategies share back-office and compliance infrastructure but have distinct investment committees.

Historically, Indaco concentrated on Italian companies, leveraging relationships with universities and research institutions in Milan, Turin and Bologna. In recent funds, geographic scope has expanded to select European opportunities in deep-tech and synthetic biology where Italian scientific networks provide a sourcing moat.

Managing Partner Davide Turco chairs the investment committee. Partner Alvise Bonivento oversees a significant portion of deal execution. The firm's pharma-adjacent deals benefit from an advisory network linked to Menarini's R&D leadership, though final authority rests with the independent SGR board.

Yes. Indaco frequently participates in syndicates with other European venture managers, particularly in deep-tech rounds where Italian startups raise cross-border capital. Confirmed co-investors include CDP Venture Capital and other Italian institutional managers in multiple portfolio companies.