Panakès Partners is now targeting a final close upwards of $210m for its Purple Fund, which has reached its Menarini-backed first close.

Italy-based venture capital firm Panakès Partners has achieved a $180m first close for its second fund with a commitment from pharmaceutical firm Menarini. The Purple Fund was anchored by the European Investment Fund and FoF VenturItaly, a fund-of-funds managed by VC firm CDP Venture Capital. The vehicle is also backed by unnamed Italy-based banking foundations,…

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