Key Takeaways
- • Z_One Fund, the Italian venture capital fund managed by Eureka! Venture, closed its first tranche at more than €35 million against a total fundraising target of €60 million.
- • CDP Venture Capital SGR committed capital through its newly launched Fondo Acceleratori 2, with the Z_One commitment as that vehicle's first investment.
- • The fund targets pre-Seed and Seed startups in two focus areas, AI Applications and UrbanTech and Smart Cities, with initial tickets up to €250k and follow-ons up to €1 million.
- • A parallel vehicle, Z_One Fund Lazio, is managed by Lazio Innova under the Lazio Venture 2 initiative (PR FESR 2021-2027) and directs capital to Lazio-based startups.
Summary
Z_One Fund, the Italian venture capital vehicle managed by Eureka! Venture, has announced a first close of more than €35 million toward a total fundraising target of €60 million. The investor base includes CDP Venture Capital SGR, which committed capital through its newly launched Fondo Acceleratori 2, as well as Euronext Milan-listed Zest, Lazio Innova (via a parallel fund for the Lazio region), Fondazione Compagnia di San Paolo, and several private investors.
The fund is led by Luigi Capello, described as a pioneer of the Italian innovation ecosystem, alongside partner Giulio Montoli and junior partner Giulia Fazzini. Collectively, the team reports more than 340 investments, over 25 exits, and more than €80 million under management, with notable deals including FitPrime, Robot.com, JetHR, Vikey and 2Hire. Montoli has built his career in acceleration and pre-Seed investing, while Fazzini is described as one of the youngest women to hold a partner-level role at an Italian VC firm.
Z_One targets pre-Seed and Seed startups across two themes. In AI Applications, it will back companies embedding artificial intelligence into corporate and public administration workflows, spanning financial services, retail, digital security and new AI model development. In UrbanTech and Smart Cities, it will focus on smart buildings, electric mobility, water and waste management, and the regeneration of public spaces. The fund aims to be the first institutional cheque for startups, with initial tickets up to €250k and selective follow-ons of up to €1 million. As part of CDP Venture Capital's Rete Nazionale Acceleratori, portfolio companies will also access a structured acceleration programme delivered with Zest.
Eureka! Venture, an independent Milan-based asset manager founded in 2019 and supervised by the Bank of Italy and Consob, focuses exclusively on DeepTech. According to the article, the firm has raised over €190 million across a multi-strategy platform and recently launched Eureka! Fund II – Deep Tech Lazio, a €20 million early-stage fund. Stefano Peroncini, CEO of Eureka! Venture SGR, said the Z_One launch reflects the firm's evolution into a multi-strategy platform for alternative investments. Stefano Molino, Head of the Fondo Acceleratori at CDP Venture Capital, described the commitment as the cornerstone of a new acceleration strategy designed to combine specialised managers with operational and mentorship support.
The parallel Z_One Fund Lazio, created through the Lazio Venture 2 initiative and managed by Lazio Innova, applies the same strategy while directing capital to Lazio-connected startups to strengthen local pre-Seed and Seed financing and link innovation with regional universities and industry.
The fund is led by Luigi Capello, described as a pioneer of the Italian innovation ecosystem, alongside partner Giulio Montoli and junior partner Giulia Fazzini. Collectively, the team reports more than 340 investments, over 25 exits, and more than €80 million under management, with notable deals including FitPrime, Robot.com, JetHR, Vikey and 2Hire. Montoli has built his career in acceleration and pre-Seed investing, while Fazzini is described as one of the youngest women to hold a partner-level role at an Italian VC firm.
Z_One targets pre-Seed and Seed startups across two themes. In AI Applications, it will back companies embedding artificial intelligence into corporate and public administration workflows, spanning financial services, retail, digital security and new AI model development. In UrbanTech and Smart Cities, it will focus on smart buildings, electric mobility, water and waste management, and the regeneration of public spaces. The fund aims to be the first institutional cheque for startups, with initial tickets up to €250k and selective follow-ons of up to €1 million. As part of CDP Venture Capital's Rete Nazionale Acceleratori, portfolio companies will also access a structured acceleration programme delivered with Zest.
Eureka! Venture, an independent Milan-based asset manager founded in 2019 and supervised by the Bank of Italy and Consob, focuses exclusively on DeepTech. According to the article, the firm has raised over €190 million across a multi-strategy platform and recently launched Eureka! Fund II – Deep Tech Lazio, a €20 million early-stage fund. Stefano Peroncini, CEO of Eureka! Venture SGR, said the Z_One launch reflects the firm's evolution into a multi-strategy platform for alternative investments. Stefano Molino, Head of the Fondo Acceleratori at CDP Venture Capital, described the commitment as the cornerstone of a new acceleration strategy designed to combine specialised managers with operational and mentorship support.
The parallel Z_One Fund Lazio, created through the Lazio Venture 2 initiative and managed by Lazio Innova, applies the same strategy while directing capital to Lazio-connected startups to strengthen local pre-Seed and Seed financing and link innovation with regional universities and industry.
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