VENTURE CAPITAL: €200 MILLION INVESTED IN ITALY IN Q1 2023
A total of €201 million was invested in startups and innovative SMEs in the first three months of 2023, raised across 84 funding rounds. Excluding "mega rounds" (funding over €100 million), the amount invested is in line with the average of the last 10 quarters. There was an increase in Seed stage fundraising, while Series A or later rounds saw a decrease. A total of 11 exits were recorded, in line with the last quarter of 2022. In Q1-23, Europe continued the slowdown that began last year: 1,571 rounds were announced (-39% compared to Q4-22), raising a total of €11 billion (-14% compared to Q4-22).Italy, on the other hand, with €201 million raised across 84 rounds, is essentially in line with Q4-22, both in terms of the number of rounds (+5%) and the amount raised (-5%).
The report was presented today in Turin at the OGR, hosted by LIFTT and Azimut. During the event, speakers included Fabio Mondini de Focatiis, Founding Partner of Growth Capital; Francesco Cerruti, General Director of Italian Tech Alliance; Guido Bocchio, Head of Venture Capital at Azimut Libera Impresa; Giancarlo Rocchietti, President of the Club degli Investitori; Maria Cristina Odasso, Head of Business Analysis at LIFTT; and Nicolò Petrone, CEO of 1000 Farmacie.
“We confirm our forecast for 2023 as a year of consolidation for the Italian market, in contrast to the major European ecosystems that have recorded a contraction in recent months. As anticipated at the end of 2022, after a record high in terms of total investments, the overall Venture Capital investments in Italy will benefit from the highest level of dry powder available, the sector’s verticalization, and the emergence of new VC funds, but will be influenced by the presence of mega rounds and the evolution of the macroeconomic context. We also expect 2023 to be a very dynamic year for M&A activity, leveraging the significant reduction in multiples, particularly in certain sectors,” said Fabio Mondini de Focatiis, Founding Partner, Growth Capital.
