Programma 101 hits first close

The vehicle will embark upon its investment period towards the end of January 2014, Andrea di Camillo, head of P101, told unquote". 

A final close on €50m is expected within six months. Institutional investors and Italian entrepreneurs will be targeted in the final leg of the fundraising process. 

The fund will work closely with university accelerators in order to boost dealflow and strengthen ties with the entrepreneur community. 

Investments
P101 will back local technology companies with commitments of €250,000-4m to Italian start-ups operating in the digital sector, including e-commerce and digital media.  

Around 15-18 investments will be made via the vehicle. 

Investors
State-supported fund Fondo Italiano di Investimento has committed €15m to the vehicle.  Italian asset manager Gruppo Azimut has made an equal contribution to the fund. 

Remaining capital commitments were provided by angel investors and P101 partners. 

People
Andrea di Camillo will manage the vehicle. Luigi Tommasini manages fund-of-funds investments at Fondo Italiano di Investimento..  

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