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Ten Months of Venture Capital Here's Who Invests in Italy’S Startups

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Ten Months of Venture Capital Here's Who Invests in Italy’S Startups November 2019 Ten months of venture capital Here's who invests in Italy’s startups EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - head office Corso Italia, 22 - 20122 Milan - PIVA 09375120962 1 The activity of venture capital investors is increasingly effervescent in Italy, although the numbers are still small. What is striking, however, is the rate of growth in the number of deals and above all the fact that we are starting to see numerous scaleups, i.e. startups that are growing and attracting increasing volumes of investments. From the beginning of the year to Friday, November 8, BeBeez Private Data (the BeBeez database available as a subscription, click here for information and an upgrade of your BeBeez News Premium subscription) calculated that 199 startups and scaleups closed venture rounds for a total of 528.6 million euros. The figure also includes money raised thanks to equity crowdfunding campaigns. Infact, according to data from CrowdfundingBuzz (the information platform published as BeBeez by EdiBeez srl), equity From the beginning crowdfunding platforms in Italy as a whole have raised over 52 million euros since the beginning of of the year the year, of which about 13 millions went to finance real estate initiatives for a total value of 12.6 to last Nov. 8th, millions. However, BeBeez as for its venture capital report does not take into account the capital 198 startups raised for real estate projects, so the total of 528,6 million is net of real estate. The remaining 39.6 millions in equity crowdfunding, on the other hand, concerned 103 companies. In reality, however, and scaleups the bulk of the harvest on equity crowdfunding platforms was concentrated in the hands of nine announced companies that alone raised 17 million euros. At the top of that ranking are SixthContinent (3 investment rounds millions) and Italia Startup (2.66 millions), followed by Innovative RFK (2.5 millions). worth 528.6 mln euros The overall figure is therefore particularly important, if we consider that throughout 2018 Italian in Italy startups (or those founded by Italians) financed by venture capital investors, whether structured as funds or as private investor club deals, had raised a total of 510 million euros from investors, spread over 179 companies, considering also venture debt (without venture debt, 480 million euros, see here the BeBeez Venture Report 2018). Moreover, last year the overall figure was biased by the 100 million euro mega-round collected by Prima Assicurazioni and underwritten by Blackstone and Goldman Sachs. The other important data is the one relating to the total capital raised by these same startups and scaleups since the beginning of their activity. We are talking about more than 804 million euros, which is certainly a significant figure, but also shows how EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - head office Corso Italia, 22 - 20122 Milan - PIVA 09375120962 1 much the investment activity of this last year alone weighs on the total. The attractiveness of our startups and scaleups is clearly growing. Having said that, several large investment rounds are worth mentioning, starting from the 62 There are million dollars of the social fashion app Depop, the 61 million dollars of the fintech company 28 companies Soldo, the 44 million euros of the co-working leader Talent Garden, the 35 million dollars of the fintech scaleup TrueLayer and the 20 million euros rised by the automobiles ecommerce who have raised platform brumbrum. At the top of the ranking of those who have raised the most in the year, at least 3 mln euros however, there is Casavo. In fact, this proptech raised 82 million euros in three rounds, of which in a single investment 27 millions in equity and 55 millions in debt. All together, the top 16 companies, selected from round. Of these, those that have announced rounds worth at least 6 millions, have raised this year a total of 389 16 have raised rounds million euros and 686.5 millions since the start of their activities. It should also be noted that there are 12 more companies that have raised rounds of at least 3 millions, for a total of 50.7 million worth at least euros, which since the beginning of their activities have received 69.2 millions from investors. 6 millions So in total we are talking about 28 companies that have raised just under 440 million euros this year in rounds worth at least 3 millions each. In all of 2018 there were 31 super-startups and scaleups based in Italy or founded by Italians who had raised rounds of at least 3 million euros for a total of over 408 million euros, but we have already seen that figure included the 100 million of the "exceptional" round of Prima Assicurazioni. Without that round, we can say that 2019 has already beaten 2018. By 2017, however, only 13 startups had collected rounds of at least 3 million for a total of 110 million euros. Finally, a certain amount of m&a activity on the financed startups should be noted. In particular, it is worth mentioning the total exit of H-Farm from Depop last January, which follows a first partial exit in January 2018, at the same time as the capital increase of Depop from 20 million dollars. The deal as a whole generated for H-Farm a return equal to 6 times the initial investment, with a total collection of 4,57 million and a capital gain of 3,78 million ( BeBeez's article). EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - head office Corso Italia, 22 - 20122 Milan - PIVA 09375120962 1 Then there was the acquisition of the entire capital of fintech Neutrino, the Italian platform for the analysis, investigation and identification of illegal transactions on blockchains, by the American platform for the purchase and sale of bitcoins CoinBase. Neutrino had been financed in 2017 by 360 Capital Partners, which thus held a 30% stake (see article by BeBeez). Finally, last July it was listed on the Aim Italia CleanBnB, the Italian platform leader in the management of short-term rents, which has raised in ipo, all in capital increase, 3.9 million euros, or 26.42% of post-money capital. Founders and the investors of the previous rounds - Boost Heroes, the business angels of the BacktoWork24 network and the investors who participated in the two equity crowdfunding campaigns conducted on the CrowdFundMe platforms (see BeBeez's article), were also diluting themselves. EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - head office Corso Italia, 22 - 20122 Milan - PIVA 09375120962 1 Venture capital deals on Italian companies (or founded by Italians) from 1 January to 8 November 2019 Total Last Last Company Type of activity Founders Investors** capital Article round date round raised real estate instant Giorgio Tinacci, Simon - Greenoaks Capital (20 mln equity Casavo 10/11/19 buying platform Specka and 30 mln debt) 50 >100 BeBeez Casavo 30/06/19 - international venture debt fund 25 BeBeez - Project A Ventures, Picus Capital, 360 Capital Partners, Kervis Asset Management, Boost Heroes, Marco Casavo 27/02/19 Pescarmona, Rancilio Cube 7 BeBeez Total 82 General Atlantic, HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus italian social shopping Depop 11/06/19 Simon Beckerman Ventures, TempoCap, Sebastian 62* 105,6* BeBeez app Siemiatkowski, Red Circle Investments and Lumar Battery Ventures, Dawn Capital, Silicon multi-user expense Valley Bank, Connect Ventures, Accel, account for InReach Ventures, U-Start e R204 Partner e Soldo 09/07/19 companies Carlo Gualandri investitori privati 61* 73 BeBeez EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - head office Corso Italia, 22 - 20122 Milan - PIVA 09375120962 1 Total Last Last Company Type of activity Founders Investors** capital Article round date round raised StarTIP srl (TIP spa), Angelini, D'Amico, Talent networking and 12/03/19 Davide Dattoli Dompè, Drago, Foglia, Ginatta, Holland, 44 71 BeBeez Garden digital training Luti, Monti, Pittini, Rovati, Indaco Ventures, Investors Club, BeConsulting, Social Capital, Digital Magics, 500Startups, Endeavor Catalyst open banking Francesco Simoneschi Tencent Holdings and Temasek, Northzone, TrueLayer 17/06/19 35* 46,5* BeBeez software and Luca Martinetti Connect Ventures and Anthemis Francesco Banfi, Accel, Bonsai Venture Capital, e.ventures, brumbrum 01/02/19 e-commerce car Alberto Genovese, 20 32 BeBeez United Ventures Roberto Testore platform for booking Alessandro Bruzzi, Uala 04/06/19 beauty salons and Enzo Li Volti and Luca Immobiliare.it, Club Italia Investimenti 2 15 20 BeBeez spas Mattivi Gianluigi Casole and Alven, U-Start, Endeavor Catalys and Freeda 10/09/19 media company Andrea Scotti Calderin Unicredit minibond of 2.5 million euro) 15 27 BeBeez Pierluigi Paracchi, Luigi Naldini, Bernhard Qianzhan Investment Management, Fidim, Genenta Gentner, San Raffaele Bromioli family, Fumagalli family, private Science 11/09/19 biotech Hospital in Milan client club deal, Esperia bank, business angel 13,2 30 BeBeez Stanley Black & Decker, Samsung Ventures, technological Emanuele Musini and BioAdvance, Hikma Ventures, Hackensack Pillo Health 03/06/19 platform for home 11* 12,9* BeBeez James Wyman Meridien Health System’s Innovation Center care provision Fund e Civilization Ventures FoodTech delivering Five Seasons Ventures, Indaco Ventures I, fresh food products to Marco Porcaro and Program 101, Barcamper, dPixel, Club Italia Cortilia 18/09/19 your home Antonio Perini Investitori and Boox 8,5 17 BeBeez EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - head office Corso
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