Italian startup founders are set to benefit from Vento’s newly launched €75M fund, designed to propel global growth. Over the past 15 years, European venture capital has evolved significantly, with a growing focus on supporting founders from specific countries—regardless of where they reside.
This approach has been instrumental in strengthening national startup ecosystems by encouraging entrepreneurial talent to reconnect with their roots. A prime example of this strategy was pioneered by Paris-based Kima Ventures. Now, Italy is following suit with the launch of a new venture fund dedicated to its founders.
A Fund Rooted in Italian Tech Innovation
The new sector-agnostic fund stems from the team behind Italian Tech Week (ITW), an annual event in Turin that has attracted global tech leaders such as Sam Altman, Reid Hoffman, and Elon Musk. The initiative was originally spearheaded by John Elkann, a key figure in Italian business, who serves as the chairman of Vento. Elkann also holds leadership roles at Stellantis (Fiat’s parent company) and Exor, the Agnelli family’s investment holding.
Elkann’s extensive connections in both Europe and Silicon Valley bring significant advantages to ITW and Vento. The firm’s investment committee includes seasoned industry figures like Diego Piacentini, Mike Volpi (formerly of Index Ventures), and Jean de La Rochebrochard. Interestingly, Rochebrochard recently joined Kima Ventures, the very model that Vento aims to replicate, following his departure from French venture firm Newwave in 2023.
Investing in Italy’s Entrepreneurial Future
Since its inception, Vento has backed over 100 startups, including Bee, JetHR, and Qomodo. With its second fund, the firm aims to make 375 investments over five years.
Diyala D’Aveni, CEO of Vento, recently emphasized Italy’s growth potential: “Italy lags behind other European nations in the startup ecosystem, but we believe it is on the same trajectory. That’s why we’re doing this. Italian Tech Week allows us to bring global investors into contact with Italian founders, showcasing the untapped potential of our ecosystem. The lack of high-profile success stories in Italy has hindered its growth, but we aim to change that.”
D’Aveni further noted that the primary challenge isn’t a shortage of capital but rather a need for more promising startups: “The ecosystem just needs a few breakout successes to trigger a chain reaction, much like what we witnessed in France.”
A Strategic Approach to Deal Flow
Vento’s strong connection to Italian Tech Week allows it to evaluate thousands of startups, selecting only the top 2.5% for investment. The firm provides an initial €150,000 investment, with the potential for follow-on funding.
John Elkann explained the motivation behind Vento’s launch: “When we established Vento’s first fund in 2022, we saw that Italy’s tech and entrepreneurial potential was significantly underserved. Italian founders have always demonstrated remarkable drive, but the necessary ecosystem was lacking. Vento was created to bridge this gap—not just through funding but by offering a robust support system encompassing direct investment, venture building, and network expansion via Italian Tech Week.”
Overcoming Structural Challenges
Italian company law has often been seen as less favorable for startups compared to the regulatory frameworks in the UK or the US. However, Elkann stressed that Vento’s approach is founder-first: “Our priority is to identify and back exceptional Italian founders, no matter where they operate. Italy is taking important steps to become more competitive on the global tech stage, and we believe regulatory differences will soon become less significant.”
The Growing Strength of Italy’s Startup Ecosystem
Italy’s tech ecosystem is gaining momentum. According to Dealroom data, venture capital investment in Italian startups reached $5.72 billion between 2020 and 2024—more than triple the $1.7 billion recorded in the previous five years.
Vento is already building an international network, connecting with Italian founders based in global tech hubs like New York, London, Berlin, and Paris. As D’Aveni pointed out, “We’re actively engaging with Italian entrepreneurs abroad who introduce us to promising deals. These micro-communities of Italian talent play a crucial role in fueling our investment pipeline.”
With a clear vision and a robust strategy, Vento aims to accelerate Italy’s transformation into a thriving hub for global innovation. By backing Italian founders wherever they are, the firm is setting the stage for the country’s startup ecosystem to flourish on an international scale.
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