United Ventures Receives €20M from EIF

united venturesUnited Ventures, a recently launched vc firm, received a €20m investment from the European Investment Fund.

The firm has now over €50m under management having held the first close in March 2013 (read here).

Led by Massimiliano Magrini and Paolo Gesess, United Ventures focuses on helping tech startups (software and cloud-enabled services, mobile, Internet & consumer services) scale up globally. Its Seed Revolution is a 6-month acceleration program, which provides each startup with €25k from United Ventures, up to €25k in cash and/or services from a partner incubator, and €12.5k in services from a mentor with specific expertise and extensive industry network.

The firm has already invested in 20Lines, Halldis, LOVEThESIGN and MoneyFarm.

The final close of the fund is expected in April 2014 at €60m.



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