Vento's Mission

Vento, one of Italy's most active private early-stage VCs, is launching its second fund, hard-capped at €75 million, specifically to back Italian startup founders at home and abroad. The sector-agnostic fund originated from the organizers of Italian Tech Week, held annually in Turin, which has hosted prominent figures such as Sam Altman, Reid Hoffman, and Elon Musk.

The event was originally launched by Fiat family scion John Elkann, chairman of Vento, but also chairman of Stellantis (the parent company of Fiat) and Exor (the holding company of the Agnelli family, which controls Fiat and other assets). Elkann's extensive network in Europe and Silicon Valley is expected to benefit Vento's investment committee, which includes tech industry veterans such as Diego Piacentini, Mike Volpi, and Jean de La Rochebrochard.

Addressing Italy's Entrepreneurial Gap

According to Diyala D'Aveni, CEO of Vento, Italy is behind other European countries in terms of entrepreneurial growth, but the company believes that with the right support, Italian founders can achieve success. Vento's fund aims to provide not only capital but also a comprehensive platform that combines direct investment, venture building, and network development through Italian Tech Week.

Italian Tech Week has already evaluated over 3,500 startups, with a selective 2.5% conversion rate and a standardized €150,000 ticket size. The event has also led to some follow-on investments. Vento has already invested in 100 startups, including Bee, JetHR, and Qomodo, and plans to invest in 375 more over the next five years.

Regulatory Environment

While Italian company law is often considered less favorable to startup founders compared to the UK or US, Elkann believes that Italy is making significant strides to become more competitive in the international technology landscape. He expects that regulatory differences between countries will become less relevant over time.

Dealroom data shows that venture capital investment in Italian startups has increased significantly over the past five years, totaling $5.72 billion. Vento's fund is expected to contribute to this growth, supporting Italian founders and helping to bridge the gap in the country's entrepreneurial ecosystem.