The venture capital Primomiglio Sgr once again focuses strongly on digital startups, which through the newborn brand Primo Ventures formalizes the launch of Primo Digital, a new 80 million euro fund focused on seed and early stage investments.
“The goal is to start with the first closing by the end of the year – explained Gianluca Dettori, President of Primo Ventures in a note – and the fund will continue with the strategy already implemented by Barcamper Ventures and Barcamper Ventures Lazio, which is offering very promising signals in terms of effectiveness and performance “. The focus is therefore on teams and entrepreneurial projects that intend to become “champions” in their reference sectors and the financing will focus on operations ranging from 500 thousand up to 2 million euros, “with a strong concentration of the fund on follow-on investments within of the portfolio “. The scope of Primo Digital’s intervention, Dettori confirmed, will mainly be the Italian market, but it is already expected that a share of the capital raised will be destined abroad, and in particular in Europe and the United States, in the form of co-investment with other foreign venture capital funds.
The launch of the new fund is in fact a new step forward for Primo Ventures after the departure, last August, of the Primo Space Fund, also with a dowry of 80 million euros and specialized in investments in the new space economy, and after a year, 2020, which despite the Covid 19 pandemic recorded several significant operations in the panorama of technology startups, with four companies in the Barcamper Ventures portfolio (Cortilia, Cubbit, Codemotion and Brandon) which in the last twelve months have collected a total of over 50 million euros.
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