# Indaco Venture Partners

Indaco Venture Partners is a Venture Capital based in Milan, Italy.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Milan, Italy
- **Region:** Europe
- **Address:** Milan, Italy
- **Founded:** 2016
- **Assets under management:** Undisclosed
- **Website:** www.indacosgr.com
- **LinkedIn:** https://www.linkedin.com/company/indaco-venture-partners

## Regulatory record

- **Reports private funds:** No

## About

Indaco Venture Partners is a private equity firm based in Milan, Italy. It pursues a Venture Capital strategy and manages $388.05 million in assets, with $54.89 million in dry powder. The firm has 18 staff, including 13 investment professionals.

## Sectors

- Enterprise Software
- AI/ML
- Digital Health
- Industrial Tech
- Robotics & Automation
- AgriTech & FoodTech

## People

- Davide Turco — Managing Partner
- Alvise Bonivento — Partner

## Questions

### How is Indaco Venture Partners related to the Menarini Group?

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.

### Does Indaco operate a single fund or multiple vehicles?

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.

### What is Indaco's geographic focus?

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.

### Who runs investment decisions at Indaco?

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.

### Does Indaco co-invest alongside other venture firms?

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.

## Related profiles

- [Indaco Capital](https://altss.com/profile/indaco-capital)
- [INDEE Capital](https://altss.com/profile/indee-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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