PRESS
Quadrivio Group launches Artificial Intelligence PE Fund
Quadrivio has launched the Artificial Intelligence PE Fund, Italian-language daily Il Sole 24 Ore reported, citing the private equity group's CEO Alessandro Binello.
The report said that the fund intends to raise EUR 300m to invest into AI firms with 70% of that amount to be ploughed into Italy and the remainder earmarked for Europe and the US.
The article noted that the fund will seek to take majority stakes in companies utilizing AI in manufacturing, cybersecurity, data analytics, software and IT with the aim of creating value through the application and integration of AI solutions.
The Artificial Intelligence PE Fund will favour buy and build strategies as well as looking to expand and consolidate acquired companies' international position.
The fund will be headed by Quadrivio Group partner Fabio Boschi, the article added.
The item said that Microsoft is acting as technology partner to the fund.