Key Takeaways
- • Milan-based Panakès Partners raised €8.5 million from Lombardia Venture STEP, the fund-of-funds promoted by the Lombardy Region, to launch Panakès Fund – Fondo Parallelo Lombardia.
- • The vehicle will co-invest alongside Panakès' main funds, Panakès Fund and Purple Fund, under Action 1.6.2 of the PR FESR Lombardy 2021-2027 programme.
- • Lombardia Venture STEP is financed by European funds and managed by Finlombarda; the vehicle targets life sciences, MedTech and BioTech startups and scaleups in Lombardy.
- • Panakès currently manages approximately €300 million, according to the article.
- • The launch follows public regional commitments elsewhere in Italy, with Lazio Innova backing Eureka! Venture and NVM Ventures totalling €34.83 million combined.
Summary
Milan-based Panakès Partners has raised €8.5 million from Lombardia Venture STEP, the venture capital fund of funds promoted by the Lombardy Region, according to EU-Startups. The capital will fund Panakès Fund – Fondo Parallelo Lombardia, a dedicated vehicle that will invest in startups and scaleups active in life sciences, MedTech and BioTech.
Lombardia Venture STEP is financed through European funds under the PR FESR Lombardy 2021-2027 programme and managed by Finlombarda. Its stated purpose is to promote access to venture capital for innovative companies in Lombardy. In line with Action 1.6.2 of the programme, the parallel vehicle will co-invest alongside Panakès' main funds, Panakès Fund and Purple Fund.
Diana Saraceni, Founder and Managing Partner of Panakès Partners, described the launch as a further step in the firm's commitment to the most promising startups and scaleups in MedTech and BioTech. CFO Lorenzo Giordano said the regional contribution expands the firm's investment capacity in these sectors and reflects effective collaboration between public and private capital.
Panakès was founded in 2015 by Fabrizio Landi, Alessio Beverina and Diana Saraceni. The firm manages approximately €300 million and focuses on early-stage life sciences companies developing revolutionary technologies and products. Its broader remit also includes digital technologies, DeepTech, and renewable, clean and resource-efficient technologies.
The announcement sits within a wider pattern of regional venture initiatives in Italy backed by European funding. EU-Startups noted that Milan- and Rome-based Eureka! Venture launched a €20 million DeepTech fund in September 2026 with a €16 million commitment from Lazio Innova, and NVM Ventures announced a €23.6 million first close in October, including €18.83 million from the same regional investor. Lombardia Venture has also previously backed startup financings through parallel vehicles, including ISAAC's €14 million round in March 2026 and Resilco's €5 million Series A in 2025.
Lombardia Venture STEP is financed through European funds under the PR FESR Lombardy 2021-2027 programme and managed by Finlombarda. Its stated purpose is to promote access to venture capital for innovative companies in Lombardy. In line with Action 1.6.2 of the programme, the parallel vehicle will co-invest alongside Panakès' main funds, Panakès Fund and Purple Fund.
Diana Saraceni, Founder and Managing Partner of Panakès Partners, described the launch as a further step in the firm's commitment to the most promising startups and scaleups in MedTech and BioTech. CFO Lorenzo Giordano said the regional contribution expands the firm's investment capacity in these sectors and reflects effective collaboration between public and private capital.
Panakès was founded in 2015 by Fabrizio Landi, Alessio Beverina and Diana Saraceni. The firm manages approximately €300 million and focuses on early-stage life sciences companies developing revolutionary technologies and products. Its broader remit also includes digital technologies, DeepTech, and renewable, clean and resource-efficient technologies.
The announcement sits within a wider pattern of regional venture initiatives in Italy backed by European funding. EU-Startups noted that Milan- and Rome-based Eureka! Venture launched a €20 million DeepTech fund in September 2026 with a €16 million commitment from Lazio Innova, and NVM Ventures announced a €23.6 million first close in October, including €18.83 million from the same regional investor. Lombardia Venture has also previously backed startup financings through parallel vehicles, including ISAAC's €14 million round in March 2026 and Resilco's €5 million Series A in 2025.
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