Total investments in Italian Venture Capital reached €527 million in Q3 2022, pushing the total for the first nine months of the year to over €1.5 billion – already surpassing the full-year figure for 2021. The number of rounds in Q3 (58) remained steady compared to the previous quarter (62), bringing the total for the first nine months to 197. Fintech led in capital raised, while Software had the highest number of rounds. There was also an increase in participation from international investors, with two rounds exceeding €100 million.
This is the snapshot provided by the Venture Capital Observatory in Italy, produced by Growth Capital – Italy’s leading advisor specialized in capital raises and extraordinary finance for startups and scaleups – in collaboration with Italian Tech Alliance, the national association of venture capital, innovation investors, startups, and innovative SMEs. Now in its third edition, the report outlines key investment figures and trends in the Italian VC ecosystem for the July–September 2022 period.
“As predicted earlier this year, Italian Venture Capital continues its strong growth, surpassing in this quarter the total investment volume of 2021,” said Fabio Mondini de Focatiis, Founding Partner, Growth Capital.
“According to our estimates, the Italian market could grow by 40% to 60%, reaching €1.8–2.0 billion by year-end — a trend that runs counter to flat expectations for Europe. Among the most encouraging signs of maturity in the ecosystem are the rising (and converging) average and median values for Series A rounds, as well as an increase in Late Stage rounds. Key drivers of this growth include a more consistent presence of international investors in Italian deals and increasingly active support from institutions. The evolving numbers and infrastructure in Italy’s VC market, combined with the highest level of dry powder ever available to domestic investors, give us reason to be optimistic for the years ahead.”
