Since the October 7 massacre, Italy has adopted a critical stance towards Israel and the war in the Gaza Strip, even though the right-wing Italian government and the Israeli government see eye-to-eye on many issues. Nevertheless, “Globes” has learned that the Cassa Depositi e Prestiti (CDP), Italy’s official government technology investment fund, has started to invest in Israeli companies.
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The fund operates under the aegis of the Italian Ministry of Finance, and manages €4.7 billion. It seeks to invest tens of millions of euros, and perhaps even more, in Israeli startup companies, mainly in artificial intelligence and quantum computing, with the aim of bringing the companies’ activity to Italy, to develop and advance the local technology industry.
Policy tool
The investments in Israel are managed by Hagai Badash, an Italian of Israeli origin who lives in Rome, and who previously served as an investment manager and analyst in several Italian companies. Badash led the investment on the CDP’s behalf in Israeli company Classiq, developer of an operating system for quantum computers, an investment round estimated at $20-30 million, in conjunction with Japanese investment firm Softbank.
The investment was an expansion of a round in May that gave the Israeli company a valuation of $400 million. The expectation is that Classiq will contribute to advancing quantum computing in Italy. No comment was forthcoming from CDP or Classiq.
“Giorgia Meloni, the Italian prime minister, is well aware of the fund’s activity. It is considered an important tool of government policy and a means of advancing its aims, such as a billion euro program for supporting artificial intelligence,” a senior Israeli source familiar with the activity of the fund says.
Published by Globes, Israel business news – en.globes.co.il – on August 11, 2025.
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