New €100M ELTIF for Clean Tech: Azimut to launch a venture capital fund targeting U.S. and global startups in decarbonization, energy efficiency, sustainable mobility, and the circular economy, with advisory from Eni Next.
Strategic Industry Collaboration: Partnership leverages Azimut’s private market experience and Eni Next’s deep technological expertise to back breakthrough energy solutions.
Broadened Investor Access: Fund will be open to institutional and private investors under ELTIF 2.0 Regulation, expanding reach and supporting global energy transition goals.
Azimut Group and Eni Next have announced a strategic collaboration to launch a €100 million European Long Term Investment Fund (ELTIF), targeting high-potential startups and scale-ups driving clean energy innovation. The Luxembourg-domiciled fund, expected to launch in September 2025, will focus on investments in decarbonization, energy efficiency, sustainable mobility, and circular economy technologies.
The fund will be accessible to a broad range of institutional and private investors under the updated ELTIF 2.0 Regulation, with a diversified portfolio centered on U.S.-based clean tech companies, and potential investments across Europe and other global markets.
Azimut will lead the fund’s structuring and cross-border distribution, while Eni Next—Eni’s corporate venture capital arm—will serve as a key advisor, offering technical and strategic insight into emerging energy technologies. This dual capability brings together Azimut’s extensive experience in alternative investment products and Eni Next’s industrial know-how and global innovation network.
Clara Andreoletti, CEO of Eni Next, emphasized the value of this joint initiative:
“This strategic collaboration initiated with Azimut provides Eni Next with an additional lever to support innovative companies in the energy sector. By combining our specialized expertise with Azimut’s fundraising capabilities, the partnership will further accelerate and enhance the growth of the Eni Next portfolio. The energy sector, like many other industrial sectors, is undergoing a profound transformation driven by technological innovation. To support this transition and ensure its economic sustainability, private capital plays a crucial role in enabling new technological solutions to emerge and scale rapidly.”
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Giorgio Medda, CEO of Azimut Holding, highlighted the fund’s significance in both financial and industrial innovation:
“We are proud to continue driving financial innovation in Italy through this strategic partnership with Eni Next. Rooted in our shared presence in the United States and our aligned vision of the future, this collaboration leverages our expertise in private markets and focus on technological advancement. As new technologies reshape the energy sector, driving a generational shift toward increasingly efficient solutions, this fund aims to give investors access to the most promising and high-potential opportunities. This will help bring the Group’s total investments since 2022, dedicated to global energy transition and environmental sustainability, to at least 470 million euros.”
“Following the agreement signed with our Automobile Heritage Enhancement fund and Ferrari, this new alliance with another Italian champion marks a further step in our growth journey as a global investment partner to the country’s leading innovators.”
Azimut is a global independent asset manager listed on the Milan Stock Exchange (AZM.IM), with operations across 20 countries and a strong focus on emerging markets. Its diversified offering spans asset and wealth management, fintech, and investment banking. The Group’s shareholder base includes about 2,000 managers, employees, and financial advisors, jointly controlling around 21% of the company.
The partnership between Azimut and Eni Next represents a powerful alignment of capital, expertise, and innovation aimed at accelerating the deployment of transformative energy solutions.
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