First exit from Neva SGR's new funds, Intesa Sanpaolo's venture capital arm: what the numbers say - Economyup

▤ Summary

Neva SGR reports its first exit from the Neva II and Neva II Italia funds through the sale of cybersecurity startup Phosphorus. Dragos acquired Phosphorus, and Dragos itself has just been acquired by Accenture. The exit enables the funds to make their first capital distribution to investors and shows early liquidity in a very young fund cycle. Neva highlights strong early DPI and TVPI figures, but the article notes that the lack of transaction value makes the financial outcome hard to assess. The piece also frames the deal as a sign that the venture capital and M&A market is reopening after a slower period.

▦ Linked Companies

Dragos

$1M to $5M

Phosphorus

$10M to $25M