Lingotto Mosaic Fund Files $501M Across Two Tranches: EXOR's Growth-Stage Tech Bet

Lingotto Investment Management, the investment arm of EXOR, the holding company of the Agnelli family with $8.2 billion in assets under management, filed two tranches of its Mosaic Fund strategy on August 18. Mosaic Fund I-A raised $301 million and Mosaic Fund I-C raised $200 million, bringing the combined filing to $501 million across what Lingotto describes as a private markets strategy that invests across asset classes, industries and capital structures.

The Mosaic Strategy and Pam Chan

The Mosaic strategy is led by Pam Chan, who joined Lingotto as Managing Partner after serving as Chief Investment Officer and Head of Direct Private Opportunities at BlackRock, where she co-founded the firm's Alternative Solutions group and grew it to over $12 billion in assets under management. Her mandate at Lingotto is to build exposure in high-growth sectors with structural tailwinds. The two-tranche filing structure, a $301 million primary vehicle and a $200 million supplementary vehicle, suggests LP demand strong enough to require splitting across separate vehicle types, a common signal of oversubscription or tiered LP access.

Lingotto's Tech Focus and AUM Growth

Lingotto's confirmed investment themes span digital health, fintech, industrial tech, mobility, robotics and energy transition. The firm invested in Indian EV maker Ultraviolette in late 2025, signalling an appetite for growth-stage bets in emerging markets. At $8.2 billion in AUM, up from $6 billion at the end of 2024, Lingotto is deploying capital at scale across sectors where EXOR has long-horizon conviction.

What This Means for Founders

For founders at Series B and beyond, Lingotto Mosaic represents capital with a family office mandate: long time horizon, no fund lifecycle pressure, and cross-sector operational networks through the EXOR ecosystem. Founders in digital health, fintech, industrial tech and mobility should take note of a $501 million private markets vehicle now in active deployment.

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AngelLinx Intelligence | angellinx.ai