Rancilio Cube has transfer its venture capital assets to start a new journey with "Cube3".
Rancilio Cube, the Rancilio family office, has transfer its international venture capital investment assets collected over six years of work, creating a new vehicle and preparing for a new journey "out of the box".
Cube3, the name of the new company, has approved a capital increase of 11 million euros fully subscribed by a pool of Italian family offices to continue and expand its investment strategy in specialized funds and companies at different stages and in multiple sectors.
Born from this extraordinary operation, the company can count on assets of about 27 million euros (over 30 million dollars) and is proposed as an exclusive investment vehicle for a patient, granular and international strategy characterized by consolidated synergies and a global network in continuous evolution.
Founded in 2013, Rancilio Cube has been dedicated in the recent years to manage the activities of the Rancilio family, the result of the exit from the well-known espresso coffee machine company, founded by Roberto Rancilio in 1927.
From the very beginning, the family office has shown its innovative DNA, seizing investments such as the round F of “Lyft”, in 2016 (followed by the exit in August 2019) and also in 2016, in “Deliveroo” the food delivery platform and the Italian company “Treedom”.
Luca Rancilio, co-founder of Rancilio Cube with Silvia and Adele Rancilio, said: "We are happy to be able to expand our international investment strategy in companies and venture capital funds with selected families. We would like, with patience and curiosity, to complete new and bigger operations based on our experiences in the recent years. We are very grateful to those who trust in our project, which is aimed at seizing innovative business opportunities and itself out of the box, crossing geographical and cultural boundaries and becoming the venture capitalist reference in Italy“.
Cube3 now count on a panel of 77 investments, 17 of these in funds for an exposure of 18% in Italy, 33% in Europe and 49% in US and Israel. This "dowry", the result of intense daily work and Rancilio Cube’s spin-off, is aimed at creating an exclusive intercontinental co-investment network.
Direct investments in the portfolio include, among others, the americans SpaceX, Airbnb, 23andme, Flexport, Capsule, Coursera, Toast, Omaze, Naadam, N26, Taboola and Heart Flow, as well as the italians Casavo, Treedom, Freeda, Supermercato24, Soundreef and the europeans Deliveroo, SumUp, Tier, Lyst, Fraugster, Bnext, Prodigy Finance, Travelperk and many others.
Investments in funds are, for example, in Firstmark V, DST VII, Jackson Square Venture III, GSquared IV (US), Speedinvest F and 3, Target Global Mobility and Early Stage II, Oxford Science Innovation, Triodos Organic Growth (EU) and others on the international scene.
The partnership includes among its investors Ares (Cassina-Pezzoli family), Luigi and Tiziano Doppietti, Nico Ventures (Marco Nicosia), Rancilio Farm (Roberto Rancilio), R301 (Alessandro Rivetti), Finn Holding (Claudio Tavazzani), Mlts (Emilio Tommasi), Vis Capital (Giovanni Tremonti) and CubOne srl.
"We decided to become part of the Rancilio family's journey, joining forces to broaden our borders and seize international investment opportunities, winking at strategic innovation” Giulia Pezzoli said.
For Alessandro Rivetti “the investment in Cube3 consolidates the collaboration with the Rancilio family and aims to achieve the best international investment partnerships”.
The Board of Directors and the Investment Committee are composed by Luca Rancilio, Alessandro Rivetti, Alessandro Piccioni, Giulia Pezzoli and Emilio Tommasi. Marta Pradella and Massimo Ruffoni complete the operational team.
Advisors of the company are Gilad Engel (partner of the Target Global fund), John Denniston (former partner of the american fund Kleiner Perkins), Irene Mastelli (Phenix Capital), Matteo Sarzana (Deliveroo), Riccardo Pozzoli (Delirus Capital), Patrick Elmer (iGravity) and Matteo Novelli (Borletti Group).
Gilad Engel said: "I am happy to be able to help the Rancilio family to create an international investment strategy in innovative companies".
For Matteo Sarzana, "Cube3 will allow our country to get in touch, know and deepen the best success stories on a global scale. A unique opportunity to connect with the rest of the business world".
And John Denniston said: "Under Luca Rancilio's leadership, Cube3 has charted an impressive and innovative investment path, successfully accessing international entrepreneurial and growth opportunities. Luca and I have formed a close friendship, and I'm honored he has asked me to serve as an advisor to Cube3."
Rancilio Cube was assisted by the accountant firm Doppietti and the professional firm MM Advisors Maraschi and Marchesan for the administrative part, while Studio Legale Gattai, Minoli, Agostinelli & Partners handled the contracts for the new initiative.
The operation has treated by the notary's office of Dr. Filippo Zabban, assisted by Dr. Francesco Costantini.