MILANO – Two exit operations in rapid sequence for the Italian venture capital fund. The sales, signed in these days, involved two Spanish subsidiaries of the fund which went respectively to the British group JD Sports Fashion and RCI Bank and Services of the Renault group. Here they are:
Deporvillage: exit for the company that had a turnover of 6 million in 2015 and which projects 2021 to over 200 million
The British retailer, Jd Sports Fashion, through the subsidiary Iberian Sports Retail Group (joint venture formed together with Sprinter and Sport Zone) has stipulated in recent days, with the shareholders of Deporvillage (P101, Samaipata, Mediaset and numerous Spanish business angels and the founders) a conditional agreement to acquire the80% of the company. Launched in 2010 by Xavier Pladellorens e Angel corcuera – currently minority shareholders – Deporvillage is a online retailer specializing in the sale of articles ed sports equipment that in 2015, the year of the first investment round of P101, had a turnover of around 6 million euros. With the passage under Jd Sports, all financial partners will sell their shares. The company based in Manresa, Barcelona, has closed thefinancial year 2020 with a turnover of almost 120 million euros.
Bipi: lightning exit less than 6 months after the investment
Announced at the beginning of last February, the investment led by P101 sgr together with Toyota Ventures, Maniv and Adevinta Ventures, in Bipi – Spanish car subscription start-up already owned by Toyota Ventures – and realized through vehicles managed by P102 e ITALY 500 (, concluded with the sale of the Spanish company leader in car-as-a-service, active since 2017 (120 employees and over 10,000 customers in 3 years of activity) a RCI Bank and Services, a banking company wholly owned by Renault and specialized in automotive financing and services for customers and dealership networks Renault Group and Nissan. The operation involved 100% of the shares of the Spanish start-up. RCI Bank and Services, which is carrying out a campaign to consolidate its offer in the emerging car as a service sector, intends to capitalize on the peculiarities and strengths of the Bipi offer to develop offers in collaboration with Mobilize, a new dedicated Renault Group brand to car sharing, and dealers. Founded by Hans Christ and Alejandro Vigaray in 2017, Bipi offers consumers a “worry-free” alternative to their own car through a monthly subscription, all inclusive and completely flexible, a new and used cars of each category. The mission of the Spanish startup is to turn this service into an experience totally digital, in a market like the European one in which 98% of these types of transactions are still offline. Thanks to its model, Bipi has now become the reference platform for many fleet owners and for some of the major car manufacturers and dealerships.
P101 SGR is one of the leading venture capital fund managers in Italy, specializing in investments in innovative and technology driven companies in Europe. Born in 2013 and founded by Andrea Di Camillo, it counts among the investors of its funds Azimut, the Italian Investment Fund, the European Investment Fund, the BCC Pension Fund, the Cassa Forense as well as some of the main Italian entrepreneurial families. P101 SGR currently manages two funds, in addition to the first retail investment vehicle for venture capital developed in collaboration with the Azimut Group. With assets under management of over € 200 million, P101 has invested in over 40 companies including BorsadelCredito.it, Cortilia, Milkman, MusixMatch, and Tannico. “These two operations, in rapid succession – he comments Andrea Di Camillo, founder and managing partner of P101 – demonstrate how venture capital also from Italy and internationally is starting to express excellent case histories able to change the pace in this sector. dimensions such as JD Sports and Renault are the sign that start up – innovation – venture capital is not a formula that works only on other markets but also from Italy and internationally “.
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