New VC investor launches in Italy

The initiative includes a €50m fund that will make investments of €250,000-4m in Italian start-ups operating in the digital sector, including e-commerce and digital media. 

Fondo Italiano di Investimento and Italian asset manager Gruppo Azimut have committed capital to the vehicle, which began fundraising in February, Andrea di Camillo told unquote". A first close is expected in July. 

Private investors are also expected to support the vehicle, though a hold-up in the introduction of fiscal incentives for investment in Italian VC funds has delayed some contributions, di Camillo explained. 

The initiative intends to strengthen ties between the local venture capital scene and incubators focused on digital start-ups. Programma 101 has an agreement with around five local incubators that will present promising start-ups, providing an important source of dealflow for the fund. 

Further announcements regarding the closing of the fund and initial investments are expected in September. 

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

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• Topics
• Southern Europe
• Venture
• Italy
• Fondo Italiano di Investimento