Italian VC house P101 has led a €2m funding round for German real estate startup Projects Co-living.
The VC firm deployed capital from its Programma 102 fund, which was launched in May 2018 with a €120m target and has raised €75m so far. The fund targets digital and technology startups offering B2C and B2B services to the food, fashion, design, travel, real estate, fintech and cybersecurity sectors.
This is the third investment made by the fund, following its injections in big data specialist Wonderflow and online flower delivery startup The Colvin Co.
Projects Co-living plans to use the fresh capital to expand internationally, primarily in the Italian, French and Spanish markets.
Projects Co-living raised €500,000 in 2017 from several angel investors, including entrepreneurs Florian Swoboda and Jakob Maehren.
Founded in Berlin in 2017 by two Italians, Luca Bovone and Giorgio Ciancaleoni, Projects Co-living is a digital platform that manages and offers community-driven co-living spaces for young professionals.
P101 – Giuseppe Donvito (partner).
Projects Co-living – Luca Bovone (co-founder, CEO).
Quadriga reinvests in the business and retains a minority stake, alongside the company's management team
Entrepreneur Franvisco Fernandez, the founder of banking platform Avaloq, leads the round
It plans to back 20 companies, offering equity cheques of up to €40m across the life of an investment
This is the second investment made by Nobel Capital via its recently raised €40m fund