United Ventures announces the launch of its second venture capital fund “UV2”
- First closing concluded at Euro 75 million
- “UV2” will focus on “Early Stage – round A” investments, seeking out the best Italian entrepreneurs aiming to build global and innovative companies within high growth potential sectors
Milan, 4 December 2017 – United Ventures SGR – the independent Italian Venture Capital manager, specialised in investments in innovative companies in the software and digital technologies sectors – announced the launch of its second Venture Capital Fund named “UV2”, after concluding its first closing at Euro 75 million, higher than the total capitalisation of the first fund launched in 2013.
“UV2” aims to raise up to Euro 120 million during 2018 and its Anchor Investors will include leading institutional investors such as Fondo Italiano d’Investimento, the European Investment Fund, Banca Mediolanum, Banca Sella Holding and Fondazione di Sardegna.
United Ventures, founded in 2013 by Massimiliano Magrini and Paolo Gesess, invested over Euro 50 million with its first fund “UV1”, over 5 years in 13 “early stage” tech companies – including Moneyfarm, Cloud4WI, Musixmatch, Faceit, Loop AI and Mainstreaming – which collected a total of Euro 70 million, leaving it with Euro 20 million available for follow-on activities within the “UV1” portfolio.
The “UV2” strategy – which focuses on “early stage – Round A” investments – will be in line with what has been achieved so far. United Ventures will continue to seek out the best entrepreneurs aiming to build global companies in digital technologies, business and consumer sectors.
In particular, the new fund will concentrate on enabling technologies that will speed up the innovation of sectors that are not yet digitised, thus increasing their productivity.
Massimiliano Magrini, Co-founder and Managing Partner of United Ventures, stated: “Our mission is to support new or serial entrepreneurs in the development of tech companies that can radically innovate sectors with high growth potential. Ubiquity of access and data availability will make it possible to apply Artificial Intelligence, Machine Learning and Predictive Analytics to already operative companies as well as start-ups deciding to explore new markets and to adopt new business models.”
Paolo Gesess, Co-founder and Managing Partner of United Ventures, added: “With the new fund we want to continue, as we have done over the past 5 years, to be a solid partner for all entrepreneurs wishing to develop their businesses internationally, and who are looking for a capital partner to support their innovation process.”
United Ventures SGR is an independent Italian Venture Capital manager specialised in investments in innovative companies in the software and digital technologies sectors. Founded in 2013 by Massimiliano Magrini and Paolo Gesess, United Ventures manages €150 million in funding from Italian and international institutional investors and has invested in 13 early stage technology companies so far. The current portfolio of investees includes, among others: Loops AI, MainStreaming, Cloud4Wi, FaceIt, MoneyFarm, MusiXmatch and BuzzMyVideos. UV2 is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.
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