United Ventures, a Milan, Italy-based venture capital firm, launched a new fund called UV T-Growth.
The new vehicle, which has a target of €150m, will support highly innovative growth-stage businesses in order to develop technological projects in Italy and abroad, with a particular focus on 5G technology.
TIM, through its arm dedicated to Corporate Venture Capital TIM Ventures, signed an agreement with United Ventures, will commit €60m. The new fund will also be open to other Italian and foreign institutional investors.
TIM Ventures will make its resources and strategic assets available to the fund.
Founded by Paolo Gesess and Massimiliano Magrini, United Ventures is a venture capital firm supporting visionary entrepreneurs to reinvent industries through technology. The firm has a long-standing track record of both startup and scaleup technological companies, also offering industry expertise, mentorship and business networking to support portfolio companies. Backed companies include Datrix, brumbrum, exein, Credimi, Fiscozen, and many others.