Milan primarily based VC Step Enterprise has introduced the primary closing and operational launch of its Step Fund at €30 million, persevering with its give attention to Seed-stage investments in Italian startups with the potential of worldwide scalability – with the purpose of elevating €50 million (with a tough cap of €80 million).
CDP Enterprise Capital Sgr acted as anchor investor and dedicated €20 million by way of the Digital Transition Fund – PNRR (DTF), financed by assets supplied below the EU’s NextGenerationEU initiative. Zest, Reale Mutua, and Add Worth additionally joined the venture.
Michele Novelli, Associate at Step Enterprise, stated: “Enterprise capital at the moment is a key asset class to assist the expansion of the European financial system, significantly at a time when Synthetic Intelligence and digital applied sciences are reshaping manufacturing fashions and markets.”
The launch of Step Fund comes amid a interval of notable exercise in Italy’s early-stage and digital funding panorama in 2025.
A number of Italian startups have not too long ago secured Seed-stage financing – as an example, Skillvue raised €5.5 million to advance its AI-powered HR platform, SylloTips obtained €4.2 million to scale its office studying AI, and Lexroom secured €16 million for its generative-AI authorized platform. This diverse funding factors to rising investor confidence in Italy’s AI and B2B software program ecosystem – straight overlapping with Step Fund’s funding domains of FinTech, HealthTech and connected-world applied sciences.
On the fund aspect, Step Fund’s first-close aligns it with a broader European wave of early-stage capital formation. Inside Italy, Maia Ventures not too long ago launched a €55 million automobile targeted on FoodTech and AgriTech. Regionally, comparable funds embody Adara Ventures in Spain with €100 million focusing on utilized AI and digital infrastructure, and Armilar Ventures, which raised €120 million for DeepTech and digital transformation ventures.
Taken collectively, these developments recommend that Italy is strengthening its place inside Europe’s early-stage innovation ecosystem. With native friends comparable to Skillvue, SylloTips and Lexroom increasing quickly and new funds like Maia Ventures and Step Fund growing accessible home capital, 2025 is marking a consolidation of Italy’s enterprise funding capability, significantly in AI-enabled and digital sectors.
“Step Fund was created to assist startups from the very first stage of their journey, offering capital, entrepreneurial experience and a deep understanding of what means to construct a enterprise. I’m thrilled to take this step alongside Maria, Roberto and Gennaro, long-time companions with whom I share sturdy and complementary staff dynamics,” added Novelli.
Step Ventures was based in 2022 by Maria Imbesi, Roberto Montandon, Michele Novelli and Gennaro Tesone, who’ve constructed, scaled and exited tech firms throughout Europe, supporting greater than 100 start-ups and attaining profitable exits by way of IPOs and M&A offers with world gamers comparable to Xerox, Telefónica, Klarna, +Easy, Blackstone and TripAdvisor.
The fund will spend money on high-potential digital firms with a powerful technological edge, significantly these lively in FinTech, HealthTech, B2B software program and the related world, the place AI performs an enabling position.
Andrea Birolo, Head of Digital Enterprise, Company Enterprise Capital and Partnerships at Reale Group, added: “This partnership represents a strategic alternative for Reale Group to interact with high-quality startups able to creating tangible and related options for our enterprise. Step Fund allows us to speed up the adoption of recent applied sciences and working fashions, additional strengthening our path of transformation and progress.”
Step Fund will function from two workplaces, in Milan and Naples, to assist startups rising not solely from main innovation hubs however throughout the nation, with a specific give attention to Southern Italy. Consistent with the targets of the Nationwide Restoration and Resilience Plan (PNRR), a devoted capital reserve can be allotted to this space to assist foster the event of a vibrant native entrepreneurial ecosystem with a world outlook.
Enrico Filì, Head of the Digital Transition Fund – PNRR at CDP Enterprise Capital Sgr, commented: “Our funding in Step Fund is one other key step in our technique to assist Italy’s digital transition, with a specific give attention to Southern Italy, which can obtain no less than 20% of the fund’s assets. We’ve got nice confidence in Step Fund and its staff’s capabilities, and we’re proud to have supported its launch. We’re assured they are going to information portfolio firms towards strong progress and worldwide success.”
The fund is managed by Different Capital Companions Sgr (Acp Sgr), an Italian asset administration firm that has already launched and managed various funding funds with an progressive, thematic and sustainable method. With Step Fund, Acp Sgr expands and diversifies its product providing and administration staff.
Michele Novelli not too long ago joined the board of Acp Sgr, and a devoted Funding Committee has been established, comprising all members of the Step Enterprise staff.
Emanuele Ottina and Ofelia Tougher, respectively CEO and Senior Supervisor Enterprise Growth and Fundraising at Acp Sgr, added: “The launch of Step Fund marks a major milestone for Acp Sgr, strengthening our positioning as an progressive, sustainable and multi-strategy asset supervisor.
“With the confirmed monitor report of the Step Enterprise staff, the belief of our anchor investor CDP Enterprise Capital Sgr, and the engagement of strategic company buyers already on board and others in due diligence, we’re assured in our skill to create worth and contribute meaningfully to Italy’s sustainable progress.”
