MILAN (AIMnews.it) - At the end of 2017, the equity of Digital Magics increased to 18.9 million, thanks to the capital increase and the conversion of warrants, the net financial position was positive with 2.4 million. The operating companies in the portfolio amount to 58, of which 32 are innovative startups and 7 innovative SMEs. During the year, the digital venture incubator recorded a production value of 2.8 million euros, a negative ebitda of 638.000 euros and a net loss of 6.8 million euros, which was affected by the write-down of investments and related receivables. "It was a particularly significant year during which we consolidated our position in the digital innovation sector in Italy - explained the president Alberto Fioravanti - We continued our investment activity in 19 new companies, sold the investments in ProfumeriaWeb and Building App, the write-off of 7 participations, bringing the number to 58 of operating companies present in our portfolio. Through the 10 Open Innovation programs activated in the first half of 2017, we are aiming to foster a path of innovation for international businesses operating in Italy. Also in terms of shareholding structure, 2017 was characterised by the strengthening of the presence of our majority and reference shareholder Tamburi Investment Partners through its subsidiary StarTIP, which allows us to implement a unique digital innovation investment chain in Italy ranging from participation in the early stages to accompaniment, for the most profitable companies, along longer growth paths ". Now the company has 6.2 million cash and cash equivalents for investments. Those of 2017 amounted to 2.8 million euros, but the companies in the portfolio also collected third-party capital for over 4.6 million: the total deal flow amounted to 1,378 projects assessed. From 2011 to 2017, Digital Magics raised over € 50.2 million for incubated startups, of which € 23 million directly invested and € 27.7 million from third-party investors. The 39 operating holdings, already in portfolio at the end of 2016, achieved an aggregate turnover of € 33.3 million in 2017, an increase of 43% compared to the previous year.