At the boarding of venture capital. The Northwest quadrant continues the race towards full financial maturity. According to the latest report on Venture capital in Italy edited by Ernst & Young, Piedmont, Liguria and Valle d’Aosta are among the most active areas in Italy. From Cortilia to Newcleo, passing through BuddyFit and Armadio Verde, more than 210 million euros have arrived in 2021 alone. And the prospects are on the upside. The unknown factor of recent weeks is the escalation of the conflict between Russia and Ukraine.
2021 has proved to be a record year for the country as regards investments in Venture capital, and the same cannot but be said for the Italian North-Western quadrant. As evidence of this, according to Gianluca Galgano, E&Y start-up and venture capital expert, he points out the dynamics underway. “The protagonist remains Piedmont in both years, with the rounds concluded by the Italian-London start-up Newcleo in 2021 for about 100 million euros and by Cortilia in 2020 for 34 million euros”.
However, underlines Galgano, there is evidence «that investments have more than doubled in both regions, while public data and information are not available regarding operations in the Aosta Valley. Likewise, encouraging is the increase in the number of agreements concluded in Piedmont, from 10 in 2020 to 39 in 2021, while 6 deals were registered in Liguria (2 more than in 2020), but with important rounds concluded by BuddyFit. and Armadio Verde for 5 million euros and 2.6 million euros respectively ».
In both cases, the regional capitals stand out. In 2021 alone, around 200 million euros were raised by start-ups based in Turin. At the same time, in Liguria it is Genoa that dominates the scene, being in fact the only headquarters of companies that have concluded significant rounds, both in 2020 and in 2021.
The sectors of main interest, points out Ernst & Young, reflect the most relevant deals of the year. In Piedmont, therefore, we find the energy sector in the lead with Newcleo in 2021 and the food sector with Cortilia in the previous year – both from Turin -, while in Liguria this year the first places are occupied by the health sector with BuddyFit and fashion with Armadio Verde , two of the most innovative realities for the new generations of consumers.
From a macro-sectoral point of view, as pointed out by the VC Monitor report, the ICT (or “information technology”) monopolizes the interest of venture capital investors, representing a 35% share of the target companies. Subsequently, 14 per cent of the initial investment targets were directed towards financial services, 13 per cent towards healthcare and 8 per cent towards agro-food. Numbers that suggest which direction will be taken in the coming years.
“The data from the Venture Capital Monitor confirm the constant growth of investment activity in start-ups, exceeding for the first time the psychological threshold of one billion euros in capital raised”, explained Maurizio Montagnese, president of Intesa Sanpaolo Innovation Center, which owns 100% of Neva sgr, a venture capital company of the group whose main shareholder is the Turin Compagnia di San Paolo Foundation.
“It will not be easy to maintain this year’s leadership, given that 80% of the capital was raised by 10 companies, one of which alone raised 100 million euros. Turin can count on 543 innovative companies, 14 incubators and accelerators, 11 venture capital and corporate venture capital funds, 4 startup studios and 300 business angels, in addition to the main financial institutions and banking foundations. And let’s not forget the quality of universities and research », says Giancarlo Rocchietti, president of the Investors’ Club. The priority, at this juncture, will be to ensure continuity also in the future. Crucial point both for the North-West and for the rest of the country.