MILAN – Dec. 5, 2022 – Greenberg Traurig Santa Maria advised Neva S.G.R., the venture capital company of the Intesa Sanpaolo Group (Italy’s biggest bank), in its investment through the Neva First Fund in Classiq Technologies, an Israeli company at the forefront of quantum computing, a new technology that takes advantage of the laws of quantum mechanics to solve problems too complex for traditional computers.
Quantum computing will foster the evolution of cybersecurity and enable the creation of innovative solutions, especially in financial services, banking and insurance, with the creation of better-performing machine learning algorithms, solving optimization problems (for example, of a financial portfolio or a system for allocating collateral in credit) and scenario simulations, such as predicting the value of a financial instrument or performing stress tests to assess responsiveness to unexpected events.
The deal was managed by a cross-border team lead by Shareholder Pietro Caliceti of the Milan office, and which included Israeli Shareholder Joey Shabot, and Of Counsel Ephraim Schmeidler, together with U.S. Shareholder Cyril Brennan, and the Associate Francisco J. Vélez.