Squire Patton Boggs has advised CDP Venture Capital SGR S.p.A. on a Series A round in Radical Storage, a global online platform providing travellers with a convenient, secure international luggage storage service through local companies and businesses.
CDP Venture Capital, through its Digital Transition Fund, which uses resources from the EU via the NextGeneration EU initiative and aims to foster the digital transition of supply chains and small and medium-sized enterprises, co-led the transaction together with Azimut Libera Impresa SGR S.p.A., through “ALIcrowd III” fund, and Opes Italia Sicaf EuVeca S.p.A., an impact investment fund. Banca Finint also participated in the deal, along with current shareholder Vertis SGR S.p.A., through its funds Vertis Venture 2 Scaleup and Vertis Venture 4 Scaleup Lazio. Part of the fund investment was also raised through an equity crowdfunding campaign on Mamacrowd.
The Squire Patton Boggs team advising CDP Venture Capital was led by Corporate partner Daniela Sabelli assisted by Francesco Cieri.
The funding will support Radical Storage in accelerating the conversion of new local businesses, achieving 30,000 storage points (known as ‘Angels’) by 2027; increasing marketing efforts and boost brand awareness; optimizing its tech infrastructure; introducing new features for users and optimizing data flow management; and diversifying operations through the launch of new business lines leveraging synergies with the Angels’ network.