In its first 12 months of activity, growITup involved around 1,000 startups, evaluated over 200 and participated in 40 innovation-related events throughout Italy. In addition, it has partnered with top partner solutions, including Accenture Strategy Consulting, Avanade, HP Enterprise and the two Business Schools of the Politecnico di Milano And LUISS – Guido Carli University, and companies such as Alpitour, Barilla, CNH Industrial, Enel, Generali, Intesa Sanpaolo and Luxottica.
The investment fund, which will benefit from growITup’s ability to generate deal flows and its expertise and services, will now focus on post-seed startups engaged in the development of digital technologies.
The fund’s target is €100m, with a first closing set at a minimum of €25m. The final closing is expected by the end of 2018, but the launch of investment activity is scheduled for the last quarter of 2017.
The fund, through its lifecycle within 10 years and reaching the fundraising target, will make 10/20 post-seed investments and 7/15 Series A investments (on average €4-5m).
Investment areas include:
– Fintech & Insurtech
– Energy & Environment
– Manufacturing 4.0
– Italian Experience (Tourism, Culture & Entertainment)
– Fashion & Design
– Modern Wellbeing (Health & Wellbeing).