Azimut launches ELTIF venture capital on energy technologies with the advice of Eni Next

Eni Next and Azimut have signed a collaboration agreement under which Azimut will launch a new European long-term investment fund ( ELTIF ) of venture capital for which it will also avail itself of the consultancy and expertise of Eni Next on technological developments in the energy sector. The ELTIF fund, which is expected to launch in September 2025, will support investments in the energy tech sector .

With a collection target of 100 million euros , the Luxembourg-based fund, currently undergoing authorization by the competent Authorities, will be accessible to a broad range of investors, both institutional and private, according to the criteria established by the new ELTIF 2.0 Regulation. The portfolio will consist of mainly US startups and scale-ups active in the so-called “ clean tech ” sector, with a focus on decarbonization, energy efficiency, sustainable mobility and the circular economy. Furthermore, the fund will also be able to invest in European companies and other international markets.

“We continue our commitment to driving financial innovation in Italy, through a new high-value collaboration with Eni Next,” said Giorgio Medda , CEO of Azimut Holding. “Thanks to new technologies, the energy sector is undergoing a generational transformation, oriented towards the search for increasingly efficient solutions, and with the fund we will give investors the opportunity to access the most promising and high-potential opportunities, helping to bring the group's total investments to at least 470 million euros, from 2022, in favor of the global energy transition and environmental sustainability.”

The collaboration agreement combines Azimut's financial experience in private markets with the technological and industrial skills of Eni Next, which has always been at the forefront in promoting innovative solutions in the energy sector.

The choice of Eni Next as one of the fund's advisors gives the project a unique ability in the phase of identifying technologies and therefore high-impact start-ups, thanks to the company's direct presence on the frontiers of innovation and its international presence in the various energy business sectors. Azimut, for its part, provides its know-how in the management and structuring of alternative products and in cross-border distribution.

“The collaboration launched with Azimut offers Eni Next further leverage to enhance innovative businesses in the energy sector. By combining our vertical knowledge with Azimut’s investment raising capacity, the partnership will further contribute to the acceleration and growth of Eni Next’s portfolio,” commented Clara Andreoletti , CEO of Eni Next. “The energy sector, like many other industrial sectors, is undergoing a profound transformation driven by technological innovation. To support this process of change and ensure its economic sustainability, private capital is crucial, allowing new technological solutions to emerge and scale rapidly.”