Several top scientists charged with overseeing research into disease prevention and cures at the National Institutes of Health (NIH) were notified that they were subject to a reduction in force on Tuesday as part of a devastating purge of federal employees carried out by US Health and Human Services secretary Robert Kennedy Jr., WIRED has learned. Multiple sources at the NIH, granted anonymity because they were not authorized to talk to the media, confirmed Tuesday afternoon that at least 10 principal investigators who were leading and directing medical research at the agency had been fired. Among them is Dr. Richard Youle, a leading researcher in the field of neurodegenerative disorders previously awarded the Breakthrough Prize in Life Sciences for his groundbreaking research identifying mechanisms behind Parkinson's disease. The Breakthrough Prize ceremony, often referred to as the 'Oscars of Science,' was last year attended by Elon Musk, whose Department of Government Efficiency (DOGE) has served as the tip of the spear in President Donald Trump's campaign to eliminate large swaths of the federal workforce....

The latest closing attracted both existing and new backers, including CDP Equity, Fondazione ENPAM, UniCredit, Intesa Sanpaolo, and Inarcassa'many of whom supported the original FICC vehicle. Meet and hear more from Fondo Italiano by joining Italy's Largest Private Equity Conference in Milan. FICC II continues its mission of backing high-growth Italian companies in sectors critical to national competitiveness, including Made in Italy, digital transformation, industrial technologies, healthcare, tourism 4.0, and life sciences. The fund operates under Article 8 of the SFDR, integrating ESG factors into its investment process. Gianpaolo Di Dio, CIO and Senior Partner, noted that this fundraising milestone reflects investor confidence in the firm's consolidation-focused strategy. 'The first three exits from our FICC portfolio allowed us to return almost all invested capital, even in a tough market,' he said. Current holdings, including Mecaer, HNH, and RINA, reinforce the team's positive outlook....

French VC firm Daphni is announcing the first closing of its new fund, Daphni Blue. The firm has raised '200 million (around $215 million at current exchange rates). It expects to raise as much as '250 million ($270 million) by the end of the year. With its latest fund, Daphni plans to invest in another 40 startups. Limited partners in Daphni Blue include Credit Mutuel Arkea, Bpifrance, the European Investment Fund, PRO BTP and Swen Capital Partners. 'We need to ask ourselves how we can both differentiate ourselves, and support technologies or services that are sustainable when we invest in new projects,' founding partner Pierre-Eric Leibovici told me. 'Because at the end of the day, there are cycles, and we can see that at a given moment, either the market consolidates, or it is dominated by American players, or in the end, there wasn't enough of a breakthrough to begin with.' While most VC firms mention artificial intelligence in every other sentence, Daphni wants to put an emphasis on science (at large) as the main factor for the next wave of innovation: life sciences, biology, physics, chemistry and mathematics....

Launched in 2023, FIPEC focuses on co-investing alongside private equity firms to support Italian SMEs with revenues of up to '300m. It targets six key sectors: made-in-Italy supply chains, life sciences, industrial technologies, IT and digital, agrifood, and tourism and hospitality. The fund typically invests between '5m and '15m in minority stakes, either during acquisitions or in portfolio company expansions. In its first year, FIPEC has already deployed 25% of its capital across four co-investments. These include Errevi System, a cloud and cybersecurity IT services provider, in partnership with Kyip Capital; The Nice Kitchen, a producer of professional kitchen accessories, backed by 21 Invest; Eurosirel, a medical devices and cosmetics manufacturer, supported by Arca Space Capital and Alto Partners; and CRM ' Casa della Piada, a baked goods company, in collaboration with Wise Equity. Fondo Italiano, founded in 2010 as an initiative by the Ministry of Economy and Finance, is supported by CDP Equity, Intesa Sanpaolo, UniCredit, and other institutional investors. The firm manages '4bn across 21 closed-end mutual funds, executing both direct and fund-of-funds investments....