United Ventures, a Milan, Italy-based venture capital firm, has launched its second fund, holding the first closing at €75m.
UV2, which aims to raise up to €120m during 2018, “UV2” has Fondo Italiano d’Investimento, the European Investment Fund, Banca Mediolanum, Banca Sella Holding and Fondazione di Sardegna among its its anchor investors.
The fund will continue to make early stage and Series A round investments in innovative companies in the business and consumer software and digital technologies sectors.
In particular, UV2 will focus on enabling technologies that will speed up the innovation of sectors that are not yet digitized, thus increasing their productivity.
Founded in 2013 by Massimiliano Magrini and Paolo Gesess, United Ventures invested over €50m through its first fund, UV1, over 5 years. The firm’s portfolio includes 13 early stage tech companies, including Moneyfarm, Cloud4WI, Musixmatch, Faceit, Loop AI and Mainstreaming.