TLDR:
- Italian Founders Fund (IFF) has raised over €50 million to support Italian start-ups.
- Italy’s venture capital ecosystem is progressing but still lags behind other European nations.
Article Summary:
Italian start-ups have historically struggled to gain traction and investment, with many leading founders feeling compelled to move to other countries for better opportunities. However, Lorenzo Franzi of Italian Founders Fund (IFF) is optimistic about the future. IFF has successfully raised over €50 million from a group of investors, signaling a turning point for Italian venture capital. While Italian start-ups raised only €1.2 billion last year, down 53% from the previous year, there are signs of hope. Scalapay and Satispay, two Italian unicorns, have attracted global investors, and there is increased interest from the business angel community and private wealth. IFF aims to provide a structured approach to investing in Italian start-ups, offering not just financial backing but also support and access to networks. The fund plans to invest in around 25 companies over the next few years, with its first investments already made in Jet HR and Glaut. The founder-led approach of IFF, backed by successful Italian entrepreneurs, aims to replicate the models seen in other successful markets, providing a boost to Italy’s entrepreneurial ecosystem.
