Italy-based VC firm P101 closes new fund, Programma 103, at €150M: Know more

Milan-based P101, a venture capital firm focused on early-stage investments in digital and technology-based companies, announced on Wednesday, December 21st that its new fund, 103, has closed a €150 million round. . 250 million euros by 2023

This investment is 40% funded by new investors and 60% by existing investors. Some of the investors include Azimut, CDP, European Investment Fund, BPM, Inarcassa, ISP Group Pension Fund, and some Italian family offices.

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With this funding, P101’s assets under management now exceed €500 million. Currently, the firm oversees two funds, Program 101 and Program 102, as well as ITA 500, a retail venture capital fund managed by Azimut.

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What to expect from the new fund?

The 103 program supports early-stage and growth digital and technology-driven companies, providing B2C and B2B services in sectors including fintech, proptech, edutech and cybersecurity. All investments emphasize that sustainability tickets range from 1 to 10 million euros.

The fund’s main focus countries will be Italy and Spain, where P101 SGR has already invested. Other European countries will also be considered.

With a history of more than 100 investment rounds, 15 exits, 46 portfolio businesses (with a total revenue of 2 billion euros), 4 funds under management, and deals such as Tannico and Campari, Moet-Hennesy, P101 has attracted the attention of international players. has attracted MusixMatch and TPG.

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“This closure allows P101 SGR to strengthen its position in Italy and Europe,” said Andrea Di Camillo, founder and managing partner of P101. Our goal is to raise higher investments for each company to create start-ups and scale-ups that can attract external capital – as some of our companies have done recently. The reforms of NASDAQ and the US markets have clarified the European and Italian scenario and emphasized the attractiveness of our larger companies to large companies and PE activists.

Briefly about P101

Founded in 2013 by Andrea Di Camillo, P101 is a venture capital firm backing digital and technology-driven companies in Europe. The company claims to be one of the first operators in Europe to create dedicated staff to help its portfolio companies flourish.

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The company is backed by Azimut, Fondo Italiano di Investimento, the European Investment Fund, Fondo Pensione BCC, Cassa Forense as well as some of the main Italian entrepreneurial families.

Since its inception, the firm has invested in 35 technology companies, including Cortilia, Milkman, MusixMatch, Velasca and Tannico.

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