This new investment fund wants to raise €200M for startups in Italy

startups fund programma 102 italy

There’s been a surge in new Italian investment funds for startups over the past few years, and today we can add Programma 102 to the list. P101SGR, the venture capital management firm that launched the fund, claims to be aiming at raising a total of €200M to finance innovative startups in Italy. Several institutional funds, both Italian and European, have contributed to its first closing, totalling over €65M: one of the largest later-stage technology funds ever raised in Italy.

Following startups through to the later stage

Programma 102’s investments will target digital and technology-driven firms in several fields, from food to design, from fashion to travel, from real estate to cyber security and fintech. As mentioned, this fund will not, like most of its predecessors, focus on early-stage startups, but on following the companies through to the later stage of their development, with individual tickets that can total between €1M and €10M. The beneficiaries of this fund will be Italian startups operating both in Italy and abroad and international startups operating in Italy, which makes this excellent news for aspiring entrepreneurs hoping to launch their business in Italy.

Attracting foreign capital

The fund aims at increasing the scope of its investments, by attracting international venture capitals. The group itself, after all, is not new to such operations. In the past, P101 received the financial support of institutional investors for the founding of subsidiaries. They now aim at obtaining similar results in their effort to support the creation of new and innovative companies, for which there is a high demand in the Italian market. P101 has essentially spotted a need and it’s taking steps to meet it, adopting a strategy that has already proven successful in past operations.

An Italian group with a European profile

By adding a second fund to its assets, P101 is strengthening its position on the Italian market and putting itself on the European market too, by increasing the level of individual rounds they are able to grant to each company. This will hopefully bridge the gap that has existed so far between the average investment per company in Italy, compared to the rest of Europe. With its roots in Italy, P101 plans on keeping on investing in deep tech and innovative companies, embracing the new era of connectivity, that will change the shape of business and day-to-day interaction by influencing virtually every aspect of our existence. This operation aims to put Italy at the forefront of progress and innovation, by putting Italian startups (and international startups operating in Italy) on a level field with their European counterparts. In its previous funds, the group has proven the ability to create value in several companies that can generate excellent financial returns for their investors. There’s every indicator that new successes will result from their expanding portfolio.

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Angela

She is a part-time digital nomad. She would go full-time, if only she could stay away from Berlin for long enough without pining for a Pretzel. She was born in Italy and she enjoys life as an expat, but visits home often enough and can still remember how to bake a perfect lasagna. She is passionate about writing, marketing, languages and the systematic demolition of cultural stereotypes.

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