- investments in startups in Italy they also saw a clear increase in the first half of this year, with most of the operations concentrated in the ICT sector and, from a geographical point of view, in Lombardy, Lazio and Piedmont. The says it Venture Capital Monitor Research Report – VeM which shows how in the first half of the year, 161 operations in Italian start-ups were registered in our country for a total amount of almost one billion (957 million) euros, value more than doubled compared to 429 million (with 141 transactions) in the first half of 2021.
The first half of 2022 closed with 172 transactions (initial and follow on) against 153 last year (+12%). If you look only at new investments, initial, these were 157 compared to 137.
«The surprising numbers, for such a complicated first half of the year due to the economic and political scenarios that are developing, show that innovation it is fundamental to allow the economy to advance also and above all in times of crisis» he says Innocent Cipolletta, president of Aifi, the Italian Association of Private Equity, Venture Capital and Private Debt. “The data also demonstrates that domestic startups have all the characteristics to become the great companies of the future”.
On the other hand, there was a slowdown in the amount invested in foreign companies founded by Italian entrepreneurs which went from 379 million to 176 million euros, with a number of operations in line with the previous year (11 rounds compared to 12). But if investments in Italian and foreign companies are added together, the overall total stands at 1,1 billion euros (there were 808 million in the first half of 2021).
The largest number of operations in Lombardy and in the ICT sector
As in past years, at the initial investment level, the Lombardia it is the Region in which the largest number of target companies is concentrated, amounting to 59, covering 38% of the market (37% in the first half of 2021, but with a lower number of deals, 49). They follow Lazio (14%) and Piedmont (9%), says the Report.
From a sectoral point of view, theIct monopolizes the interest of venture capital investors, representing a 40% stake. 41% of ICT is made up of startup operations in the digital consumer services sector, and 59% of companies with a focus on enterprise technologies. Subsequently, 10% of the initial investments were directed towards i financial services (fintech) and 8% towardshealthcare.
The growth of venture capital is even more significant if it is seen in the current situation characterized by sharp declines in the financial markets following the geopolitical crisis and the acceleration of inflation. Maurice Montagnese, President of Intesa Sanpaolo Innovation Center underlines the “ten-year” role of the Piazza della Scala Group “in supporting startups both financially and with acceleration initiatives in the territories: our 100% subsidiary NEVA Sgr and the other institutional and private investors are increasingly inclined to operate by bringing new capital in this market segment to support innovation”.
Focus on Technology Transfer, Corporate Venture Capital and the early stage supply chain
The total investments in TT (Technology Transfer) from 2018 to the first half of 2022 amounted to almost 400 million euros with 175 operations. These results have also arrived thanks to the impact of the funds of the ITAtech platform, says the Report, which to date have raised a total of almost 300 million euros, making 2018 investments since 108 for a total amount of 137 million euros (including co -investors).
With reference to the activity of corporate venture capital, in the first half of the year, it is confirmed as a significant one presence of businesses in venture capital rounds. In particular, the participation of corporates in investments to support companies was recorded nascent entrepreneurial realities or in the phase of early development in about 22% of rounds overall.
With regard only to startups based in Italy, venture capital and corporate venture capital invested 193 million euros in 99 rounds and syndicate activities between venture capital, corporate venture capital and business angels recorded investments of 765 million euros in 62 transactions, while the business angel they invested 27 million in 18 rounds. The total of these activities brings the early stage supply chain in Italy to have invested 985 million euros out of 179 rounds (there were 466 million out of 167 rounds in the first half of 2021).
“Corporate venture capital, in this first part of the year, has shown that it plays an important role in corporate innovation” he declares Anna Gervasoni, professor Liuc -Cattaneo University, "The investments in this sector represented 22% of the total operations, testifying that companies play an important role in the innovation supply chain and are structured with ad hoc vehicles, in order to make their structural and not sporadic interventions”.
"In the first six months of this year, business angels participated in more than half of the investment transactions in Italy, mainly in syndication with venture funds but not only, in fact, investments made independently are also growing", he comments Paul Anselm, president of IBAN. The study was carried out by the Venture Capital Monitor Observatory - VeM active at Liuc Business School and carried out thanks to the contribution of Intesa Sanpaolo Innovation Center and E. Morace & Co. Studio legale and the institutional support of CDP Venture Capital SGR and IBAN
