Italian financial services company Banca Mediolanum has invested in United Ventures, a venture capital firm that backs Italian tech startups.
According to reports, the operation amounted to €3m.
Led by Co-Founder e Managing Partner Massimiliano Magrini, United Ventures focuses on investing in Italian startups in the Consumer Internet, Software and Mobile sectors. It currently has 10 companies in portfolio aiming to invest €60M in over 20 ventures.
Commenting on the announcement, Magrini said: “In order to develop the vc industry in our country, we need institutional investors with a positive vision of the innovation processes and the solutions necessary to support them“.
FinSMEs
27/11/2014