In the first three months of 2022, Venture capital investments in Italy amounted to 365 million euros, in line with what was observed in the first quarter of 2021 (359 million euros), but with a lower number of transactions compared to last year (31 transactions in the first quarter of 2022 against the 61 recorded in the first quarter of 2021). The main operations of 2022 concern startups that have already raised important capital in 2021, such as Scalapay and Everli. These are the numbers that emerged from the first Italy Venture Capital Scanner by Bain & Company, an international consulting company.
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1 billion euros invested in 2021 (+ 84%)
According to the analysis, in 2021 venture capital financing in Italy exceeded 1 billion euros, an almost double value (+ 84% year on year) compared to 2020, with 273 transactions (+ 25% year on year) and a average value of 3.8 million euros (+ 47% year on year). The 3 largest deals in 2021 accounted for 28% of the total value.
Only 1% of investments in Europe
Despite the development recorded last year, Alessandro Cannarsi, partner of the practice, took over Private Equity di Bain & Company“the Italian venture capital market is less mature and more fragmented than the European one. In fact, our country captured only 1% of VC investments in Europe in 2021, and half of these deals were worth less than million euros (against a third of operations of this size recorded at European level) “.
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Compared to Southern Europe, he added, “if in 2020 the Spanish market was about 60% larger than Italy in terms of the number of deals, but with a lower average value, in 2021 Madrid regained ground also from this point of view. In fact, this year the Spanish market was twice as large as Italy in terms of the number of deals and four times greater in value, also due to the greater number of mega deals, ie those with a value of more than 100 million euros ” .
7 out of 10 trades were angel, pre-seed and seed
In particular, it is again noted in the analysis, last year, the Venture capital in the Early and Later stage phases weighed 75% on the total value of the transactions. Angel, Pre-seed and Seed represent the remaining 25% of the value but 70% of the total number of operations.
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In terms of sectors, B2C leads the Italian market with € 475 million in deposits and 102 transactions. Financial services follow, with an increase in relevance in the mix by value, reaching 23% of the overall value share.
Lombardy led the Italian venture capital market in 2021 with 757 million euros invested (73% of the total) and 141 transactions (51% of the total). The Lazio Region follows with 8% of the value and 10% of total operations.