P101 SGR, a Milan, Italy-based venture capital firm investing in digital and technology-driven companies, held the first closing of its latest fund, Programma 103, at €150M.
Investors included Azimut, CDP, European Investment Fund, BPM, Inarcassa, ISP Group Pension Fund, and some Italian family offices. The fund aims to reach €250M by 2023.
Led by Andrea Di Camillo, Founder and Managing Partner, Programma 103 will invest in early and growth stage, digital and technology-driven companies, providing B2C and B2B services in these sectors: fintech, proptech, edutech, cybersecurity. Sustainability will be a major feature of all investments. Tickets will range between €1M and €10M+ each.
The fund’s main focus countries will be Italy and Spain, where P101 SGR has already made some investments. Other European countries will also be taken into consideration.
With this close, P101’s asset under management reaches almost €500M. The firm is currently managing the two funds, Programma 101 and Programma 102, and a retail VC fund, ITA 500, managed on behalf of Azimut. P101 has a track record of over 100 funding rounds, 15 exits, 46 portfolio companies (with an overall turnover of €2bn), 4 funds under management, and deals like the ones of Tannico and Campari, Moet-Hennesy; MusixMatch and TPG.
FinSMEs
21/12/2022