Over the past 15 years, as European venture capital accelerated, one strategy to strengthen a country’s startup scene involved investing in its entrepreneurs, no matter where they were based. This approach helped reconnect talent with home markets. Kima Ventures, based in Paris, pioneered this model in Europe. Now, an Italian firm is aiming to replicate its success, by funding Italian Startups.
Vento, a leading early-stage venture capital firm in Italy, is launching its second fund, capped at €75 million, to back Italian entrepreneurs both at home and abroad. Originating from the team behind Italian Tech Week—an annual event in Turin that has hosted high-profile figures such as Sam Altman, Reid Hoffman, and Elon Musk—Vento seeks to connect local talent with global investors.
John Elkann, chairman of Vento and head of Stellantis and Exor, played a crucial role in shaping Italian Tech Week. With deep ties to both European and Silicon Valley investors, Elkann has attracted prominent backers like Diego Piacentini, Mike Volpi (formerly of Index Ventures), and Jean de La Rochebrochard to Vento’s Investment Committee. Interestingly, Rochebrochard, recently ousted from Newwave, has since joined Kima Ventures, the very model Vento seeks to follow.
Having already funded 100 startups, including Bee, JetHR, and Qomodo, Vento’s second fund plans to support 375 ventures over five years. Initial investments start at €150,000, with selective follow-on funding for high-potential startups.
The Changing Landscape of Italian Startups
Italy has traditionally lagged behind other European nations in startup growth, but Vento’s leadership believes the country is on an upward trajectory. CEO Diyala D’Aveni argues that Italy doesn’t suffer from a lack of funding but rather from a shortage of standout success stories to inspire future entrepreneurs. She sees parallels with France’s startup boom, believing that Italy is poised for a similar transformation.
Italian Tech Week plays a vital role in this vision, reviewing over 3,500 startup applications and maintaining an exclusive 2.5% selection rate. The event fosters international connections, helping bridge the gap between Italy’s untapped potential and the global tech market.
When Vento launched its first fund in 2022, Elkann saw an Italian tech scene filled with ambition but lacking structural support. Vento aims to change that by providing not just capital but also mentorship and strategic partnerships. While Italy’s regulatory framework still presents challenges for startups compared to countries like the UK or US, Elkann expects these hurdles to lessen as Italy’s startup ecosystem matures.
Venture investment in Italy is already on the rise. According to Dealroom data, Italian startups raised $5.72 billion in VC funding between 2020 and 2024—a more than threefold increase from the previous five-year period. To extend its global reach, Vento is also building relationships with Italian founders in key international markets such as New York, London, Berlin, and Paris, aiming to create a more connected and influential startup ecosystem.
