Turin-based Vento, a private early stage venture capital fund, said it has launched its second fund of €75 million to further support Italian entrepreneurship globally.
The new fund will be chaired by John Elkann, with an investment committee for follow-ons that includes tech industry veterans Diego Piacentini, Mike Volpi and Jean de La Rochebrochard.
Elkann is CEO of Exor, the holding company of Italy’s Agnelli family.
“Almost three years ago, we launched Vento with a clear mission: to back Italian founders building game-changing companies, wherever they are in the world,” said Vento.
“Since then, we’ve reviewed over 3,500 startups, invested in 100 of them, founded and fueled by Italian talent, and built a highly selective early-stage portfolio with a 2.5% conversion rate.
“But this is just the beginning.
“Today, we’re taking a major step forward: we’re launching our second fund of €75M to further support Italian entrepreneurship globally.
“With this new fund, we’re aiming big, continuing and strengthening the path we started in 2022 with the launch of Vento.
“We believe Italy has the talent, ambition, and creativity to lead in tech, but for too long, it has lacked the right support system.
“We want to change that by strengthening Italy’s innovation and startup ecosystem. That means backing Italian talent wherever it is and creating initiatives that give founders and industry professionals the stage and opportunities they deserve.
“We’ve built the most active private fund in Italy and now we’re doubling down on our commitment.”
Vento CEO Diyala D’Aveni said: “We believe Italy’s entrepreneurial and technological potential has been underserved for too long.
“Through our three-pronged approach, combining direct investment, venture building, and an annual tech conference, we are committed to positioning Italy as a major European tech hub.”
Elkann said: “Almost three years after launching Vento, we’re proud to renew our commitment and back top Italian entrepreneurs with a new fund.
“The passion behind their ventures and our shared successes so far drive us to pursue even more ambitious goals together.”