Italy's venture ecosystem has matured fast: bigger funds, more repeat investors, more structured follow-on, and (crucially) more "institutional muscle" behind early-stage tech. If you're raising in 2025, the game isn't "find any investor in Italy." It's: pick the 10–20 investors whose stage + thesis + decision style match your company, then run a tight process.

Below is a curated list of 10 of the most active, high-reputation Italy-based (or Italy-core) investors—with founder-useful detail on what they fund, how they behave, and how to approach them.

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1) How to pick the right Italian investors (so you don't waste 6 weeks)

Start with stage math, not vibes

The #1 mismatch I see: founders pitch the "right brand" at the wrong stage.

Pre-seed/Seed (first institutional money): prioritize speed, founder support, and a partner who'll work the round.
Seed → Series A: prioritize follow-on capacity, syndicate leadership, and hiring/BD support.
Series A+ / Growth: prioritize check size, governance experience, and international scale-up support.

Build your shortlist using 5 filters

Use these filters in order:

Stage fit (their typical first check + whether they lead)
Category fit (what they repeatedly fund: B2B SaaS, deep tech, healthcare, etc.)
Geography fit (Italy-only vs. pan-European; comfort with US expansion)
Follow-on power (do they reserve capital; do they reliably support winners?)
Decision mechanics (partner-led vs. committee; typical timeline)

Italy-specific nuance that matters in 2025

Public-backed capital is real and influential. CDP Venture Capital is a major cornerstone LP and direct investor across the market, and it has launched multiple vehicles (including fund-of-funds) shaping the ecosystem. (aifi.it)
Cross-border ambition is increasingly expected. Many top Italian funds underwrite "Italy roots, global outcomes"—especially for software, deep tech, and life sciences.
If your roadmap touches manufacturing/supply chain: be ready to discuss global sourcing and partnerships (including East Asia/China where relevant) with a fact-based, non-hand-wavy plan—investors will test operational realism hard.

2) The 10 most active, high-reputation Italy investors (2025) — detailed profiles

1) CDP Venture Capital SGR (Rome)

Why they're top-tier in Italy: CDP Venture Capital is effectively the country's national innovation platform—active across stages and sectors, via direct investing and funds-of-funds.

Scale & mandate: CDP Venture Capital manages 15 investment funds with €4.6B+ in resources, supporting companies across lifecycle stages. (aifi.it)
How they invest: multi-vehicle strategy (direct funds, sector funds, accelerators, FoFs). Example: the Large Ventures fund launched with initial AUM (and a larger target) for later-stage growth. (cdpventurecapital.it)
Founder fit: best if you're building in Italy with credible scale potential, or you need a structured Italian institutional anchor in a round.
How to approach: treat them like a platform—be explicit which vehicle fits you (AI, digital transition, deep tech, etc.) and what "Italian advantage" you create (talent, IP, go-to-market, industrial partnerships).

2) P101 SGR (Milan)

Why founders chase them: P101 is one of the most established "Italy-first, Europe-scale" VCs for digital and tech-enabled businesses.

Fundraising momentum: P101 announced the final closing of Programma 103 at €250M (April 22, 2025). ([p101.it][3])
What they like: early + growth-stage, tech-driven companies; they're known for underwriting scale, not just prototypes.
Good fit if: you have real traction or a very clear path to it (revenue, strong usage, repeatable GTM), and you want a partner with European ambition.
Pitch angle that lands: "This is a category-winning machine, not a nice product." Show distribution + compounding.

3) United Ventures (Milan)

Why they're respected: strong track record in Italian tech, with a clear appetite for leading early-stage rounds and backing companies through growth.

Current fund: United Ventures announced United Ventures III, a €150M early-stage fund, aiming to invest in 15–18 companies. ([United Ventures][4])
Institutional signal: EIF documentation describes the fund focus as early-stage ICT primarily in Italy (and to a lesser extent elsewhere). ([eif.org][5])
Good fit if: you're Seed/Series A-ish, product is ambitious, and you want a lead investor who can help you level up execution.
How to approach: show a crisp wedge + expansion story (the "why now" and the "why us" must feel inevitable).

4) Innogest Capital (Milan/Turin)

Why they're high reputation: long-running Italian VC with strong presence in healthcare and technology, and a history of working with research-driven companies.

What they do: their own positioning is partnering with ambitious founders building meaningful companies. ([innogestcapital.com][6])
Proof of continued activity: Innogest appears as an investor in a 2025 Series B round for Newronika (company announcement coverage). ([innogestcapital.com][7])
Good fit if: you're in medtech/digital health/health-adjacent tech, or you're a technical founder with real defensibility.
How to approach: bring a clinical/regulatory/data plan that is investable, not "trust me."

5) 360 Capital (Milan + Paris)

Why they're valuable in Italy: a pan-European early-stage investor with meaningful Italy footprint—useful if you want Italy roots plus international scaling support.

Recent fund signal: reporting around 360 Capital notes a first closing of €30M for its early-stage fund "360 Digitaly" (as cited in deal coverage). ([Vestbee][8])
Good fit if: deep tech / frontier digital, and you want a fund comfortable going cross-border early.
How to approach: highlight technical moat, speed of iteration, and why you can win beyond Italy.

6) Primo Capital (formerly Primo Ventures) (Milan)

Why they're strong: one of the most visible early-stage platforms in Italy; plus they expanded into healthcare private equity (useful signal for founders in regulated/clinical markets).

Platform expansion: Primo Ventures rebranded as Primo Capital and launched Primo Health, which reached a €64M first closing (Oct 2024). ([primo.capital][9])
Activity signal: Primo continues publishing investments and updates (showing an active platform posture). ([primo.capital][10])
Good fit if: you're a Seed-stage founder who wants hands-on support and a fund deeply plugged into Italy's tech network.
How to approach: be concrete—pipeline, milestones, use of funds, and specific help you want from them.

7) Indaco Venture Partners SGR (Italy)

Why they matter: a recognized local VC manager with participation in meaningful Italian rounds, often around tech + innovation-driven companies.

Fund activity signal: Indaco announced a first closing for a vehicle associated with Indaco Ventures (reported by ecosystem databases). ([Nordic 9][11])
2025 deal participation: Indaco appears as an existing investor in the 2025 Newronika Series B financing (coverage). ([innogestcapital.com][7])
Good fit if: you're building from Italy and need an investor comfortable with the local ecosystem + follow-on dynamics.
How to approach: emphasize capital efficiency, execution cadence, and the "Italian unfair advantage" you're leveraging.

8) Neva SGR (Intesa Sanpaolo Group) (Turin/Milan)

Why they're distinctive: corporate-backed VC with a high-tech focus and strong institutional credibility.

Who they are: Intesa Sanpaolo describes Neva SGR as the group's venture capital arm, investing in high-tech areas like AI, cybersecurity, cloud, 5G, blockchain. ([Intesa Sanpaolo Group][12])
Active investing signal: Neva II Fund investment in Phosphorus Cybersecurity (April 28, 2025). ([Phosphorus][13])
Good fit if: you're in enterprise/security/infra/AI-adjacent tech and want a strategic investor with deep networks.
How to approach: make security, compliance, and enterprise GTM credible—this audience hates hand-waving.

9) Italian Founders Fund (managed by Koinos Capital) (Milan)

Why founders like the concept: a "founder-led" angle with a clear intention to back ambitious Italian founders early.

Positioning: the fund describes itself as built by founders, for founders, with typical initial investments (as presented by Koinos). ([Koinos Capital][14])
Launch signal: Koinos announced Italian Founders Fund going live with €50M (June 2024). ([Koinos Capital][15])
Good fit if: pre-seed/seed with high ambition, and you want founder-operator energy rather than pure finance energy.
How to approach: tell a bold story, but back it with numbers: retention, margins, growth loop, or scientific validation.

10) LVenture Group (Rome)

Why they're a staple: one of Italy's best-known early-stage investors/accelerator-linked platforms.

Scale signal: LVenture states €174M invested, 130+ accelerated startups, and multiple exits on its site. ([LVenture][16])
Good fit if: you're very early and want acceleration + structured support in Italy's ecosystem.
How to approach: be "accelerator-ready": tight narrative, clear MVP, clear customer path, fast iteration cadence.

3) Five quick tips for pitching Italian VCs (and actually getting the meeting)

Lead with momentum. Even pre-revenue: show velocity (waitlist conversion, pilots, LOIs, retention, weekly growth). Then explain why it compounds.
Make the "Italy → world" story explicit. Your plan can start in Italy, but show how you expand to larger markets (EU/US/MENA) with a believable wedge.
Have a clean financing plan. How much you're raising, why, milestones, and what "success" looks like in 12–18 months. No fog.
Engineer the warm intro path. Italian VC is networked. A good intro from founders they backed, co-investors, or ecosystem operators can compress timeline massively.
Be specific about what you want from them. Not "smart money." Say: hiring help for X, enterprise intros to Y, regulatory guidance for Z, follow-on leadership at Series A, etc.

Why professional data rooms matter for Italian startup fundraising

Italian startups need to present complex documentation—financial projections, regulatory compliance, partnership agreements, and market expansion plans—professionally to build investor confidence.

Peony helps Italian startups create investor-ready data rooms with AI-powered organization that sets up in minutes instead of weeks. Key benefits: page-level analytics show which documents investors review most, enterprise security protects sensitive information, and transparent pricing at $40/user/month—93-99% cheaper than legacy platforms charging $5,000-20,000 per deal.

Conclusion

Italian venture capital has matured significantly in 2025, with bigger funds, more institutional backing, and clearer stage specialization. The investors on this list are actively deploying capital, but they're selective. Match your stage, thesis, and geography to the right investors, and bring momentum—not just vision.

Having a professional data room is table stakes for serious fundraising. Peony helps Italian startups organize investor materials, track engagement, and securely share sensitive data at a fraction of legacy platform costs.

Ready to pitch Italian investors? Set up your investor data room with Peony in minutes, not weeks.

Q&A Section

What's the best way to organize investor materials for Italian startup fundraising?

Peony offers AI-powered document organization that automatically structures financials, regulatory filings, and partnership agreements into a professional data room in minutes. Page-level analytics show which documents investors review most, helping you anticipate questions.

How can I track which investors are most engaged with my Italian startup pitch?

Peony provides page-level analytics showing which documents investors review and how much time they spend on each section. This helps identify serious investors and tailor follow-up conversations with actionable insights.

What's the most cost-effective data room solution for Italian startups raising seed or Series A?

Peony offers transparent pricing at $40/user/month—93-99% cheaper than legacy platforms charging $5,000-20,000 per deal. For a 5-person team, Peony costs $200/month vs $3,000-5,000+ for legacy platforms, delivering enterprise features at startup-friendly pricing.

How do I securely share sensitive financial and regulatory information with Italian investors?

Peony provides enterprise-grade security with identity-bound access, dynamic watermarking, and screenshot protection. With link expiry and instant access revocation, you maintain complete control over sensitive documentation.

What data room features are essential for Italian startups pitching to investors?

Italian startups need data rooms that handle complex documentation: financials, regulatory compliance, partnership agreements, and market expansion plans. Peony offers AI-powered organization, page-level analytics, custom branding, and comprehensive security. With 10-minute setup vs weeks for legacy platforms, Peony helps Italian startups look professional without breaking the budget.

Related Resources

Impress Investors

Top 10 Active Investors in Italy (2025): Complete Founder Guide to Italian VC Firms