Programma 101 Holds First Close at €32M

p101Programma 101 (P101), a new Milan, Italy-based vc fund, held its first close at €32m, Reuters reported.

As we anticipated in June 2013 (read here), backers included Gruppo Azimut (read the press release here) and Fondo Italiano di Investimento (FII), which made a €15m investment each.

Led by serial entrepreneur and vc Andrea Di Camillo, P101 will invest between €500k and €1.5m in 15-18 tech/digital companies which have an international perspective and are scalable in business model and technology.
To identify investment opportunities, the fund will work closely with private and university-based accelerators. The web site already lists NanaBianca, H-Farm, I3P, Boox, among others (have a look at the list here).

The final target of the fund has been fixed at €50m.



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