Italian Founders Fund Raises Inaugural €50m for Seed and Pre-Seed Startups
TL;DR
Italian Founders Fund (IFF) is launching a €50m fund to be the lead investor in pre-seed and seed rounds of innovative startups led by Italian founders.
IFF is backed by a diverse group of Italian entrepreneurs and has a collaborative community approach to offer expertise, experience, time, and network to its portfolio companies.
IFF aims to empower Italy’s next generation of exceptional talent and digital innovation, shaping the future economy for the better by unifying the country's ambitions and talents.
Jet HR, a tech company focused on removing the pain of HR management bureaucracy, has achieved €1 million in annual recurring revenue in just a few months since its official launch.
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Italian Founders Fund (IFF), the first-ever Italian Venture Capital fund created by founders, for founders, has announced the launch of its debut €50m fund. Backed by a diverse group of Italian entrepreneurs, IFF aims to empower Italy's next generation of exceptional talent and digital innovation.
The fund, with over €50 million of entirely private capital raised, was established in response to the Italian founders community's desire to elevate Italy's position in Europe for company startups. Led by Lorenzo Franzi, IFF focuses on being the lead investor in pre-seed and seed rounds of innovative startups led by Italian founders, whether operating in Italy or abroad.
Lorenzo Franzi, founding partner at Italian Founders Fund, highlighted the significance of this initiative, stating that the fund aims to promote and support Italy's promising ecosystem both domestically and globally. IFF, housed within the management company Koinos Capital SGR, offers its portfolio companies expertise, experience, time, and network of a diverse and highly qualified investor base.
The fund plans to complete 25 transactions over its investment period, with initial investments ranging from €500,000 to €1.5 million. Notably, IFF has already finalized two investments, one in Jet HR and the other in Glaut, with three additional transactions in progress.
Jet HR, a tech company focused on HR management, has already achieved €1 million in annual recurring revenue since its launch, positioning itself among the top 10% of Software as a Service startups globally. Marco Ogliengo, founder and CEO at Jet HR, praised IFF's unique network, stating that the fund provides better access than any other VC in Italy.
Marco Morgese, CEO of KOINOS Capital SGR, emphasized the importance of founder-led funds in driving innovation. He noted that IFF represents a natural evolution for Koinos, transitioning from private equity to venture capital while maintaining an entrepreneurial spirit.
Italian Founders Fund aims to invest in and empower Italy's next generation of exceptional talent and digital innovation, solidifying its position as a key player in Italy's venture capital ecosystem.
Curated from News Direct
