Invitalia Ventures

Invitalia Ventures SGR S.p.A. was an asset management company established by Invitalia, the National Agency for Inward Investment and Economic Development, which is owned by the Italian Ministry of Economy and Finance. Launched around 2016, its primary mission was to foster innovation and economic growth in Italy by providing early-stage venture capital to promising hard-tech startups and small and medium-sized enterprises (SMEs). Based in Rome, Invitalia Ventures played a crucial role in supporting the nascent Italian startup ecosystem, particularly in sectors requiring significant R&D and capital expenditure.

The firm managed the "Italia Venture I" fund, which was initially endowed with €50 million and later increased to approximately €80 million. This fund was dedicated to investing in innovative companies with high growth potential across various advanced technology sectors, including advanced manufacturing, life sciences, and digital technologies. Invitalia Ventures typically provided initial investments ranging from €500,000 to €2 million per company, often participating in seed and Series A rounds. These investments were strategically designed to help startups scale their operations, develop their products, and access new markets, thereby contributing to the broader economic development goals of Italy.

A significant development in the trajectory of Invitalia Ventures SGR occurred when its operations and funds were absorbed into CDP Venture Capital SGR S.p.A. This transition, completed around 2020, consolidated the Italian state's venture capital initiatives under a single, larger entity, CDP Venture Capital, which is part of the Cassa Depositi e Prestiti (CDP) group. Consequently, Invitalia Ventures SGR no longer operates as an independent investment firm. Its legacy, however, continues through CDP Venture Capital, which has expanded the scope and scale of state-backed venture investments in Italy, building upon the foundation laid by Invitalia Ventures in supporting innovative Italian enterprises.