NextUp, a nonfinancial holding company based in Reggio Emilia, announces that it has signed the deed of merger by incorporation of Sweet Lilium, a vehicle launched in Milan in 2017. The deal, which can be seen as unique in the fragmented landscape of startup investment vehicles, represents a possible evolutionary model for local club deals. As a result of the merger, NextUp will take over all of Sweet Lilium’s assets.
NextUp’s portfolio thus indirectly expands with six new startups joining the eleven already present, and they are: FrescoFrigo, asmart refrigeratorwith RFID technology; Gamindo, active in the development of customized video games for companies; Mirta, a marketplace that supports and the work of Italian artisans;
Renoon,
a solution for transparency management and sustainability compliance;
Screevo,
voice assistant for Industry 4.0; and This Unique, cotton tampons with subscription pattern.
“We are proud of this transaction,” says Alessandro Annovi, president of NextUp, in a note, “and of the entry of the new partners from Sweet Lilium, which will increase NextUp’s prestige and its positioning as one of the leading players in the field of early stage investments. The concomitant capital increase resolved by NextUp will also enable us to continue investing in high-potential realities, as are the eleven startups already in our portfolio and the six we are preparing to welcome, which have already demonstrated that they can establish themselves as leaders in their target sectors.”
According to Monica Granieri, sole director of Sweet Lilium, “the transaction represents a smart move in the Italian club deal chessboard. Through critical masses, management is streamlined, return potential is increased, and attractiveness to new investors is improved. NextUp, boosted by Sweet Lilium’s holdings, increases in visibility and establishes itself as an extremely qualified operator in a critical area of the country. We are convinced that we did the right thing.”
NextUp is a nonfinancial holding company that was founded as an incubator and transformed into a special purpose vehicle in 2020, thanks to the efforts of a management team composed of professionals and experts in innovation and the startup world.
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