420 million euros invested in Venture Capital in Italy during the first three months of 2022, for a total of 54 financing rounds, with a growth in invested capital of 35% compared to the first quarter of 2021. The first quarter of 2022 recorded a figure of slightly less than the previous quarter (63) and in line with the third quarter of 2021 (55).
This is what emerges from the data ofQuarterly Observatory on Venture Capital in Italycreated by Cross Border Growth Capital, an Italian advisor specializing in capital increases and finance operations for startups and scale-ups, in collaboration with Italian Tech Alliance, the Italian association of Venture Capital, startups and innovative SMEs.
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The analysis also showed that the first quarter of 2022 (420 million) and the third quarter of 2021 (547 million) clearly exceeded the corresponding quarters in the previous five years.
In particular, the first quarter of 2022 recorded the second best result of the last five years, with 2 deals exceeding 50 million (ScalaPay and Moneyfarm) and an average raised amount of 7.8 million euros.
“After a 2021 that represented the record year for the Italian VC, which with over 260 closed deals and over 1.2 billion euros invested had exceeded the one billion euro threshold for the first time, the numbers of the first quarter 2022 we are told that Italy is continuing the growth of the entire sector “explained Francesco Cerruti, General Manager of Italian Tech Alliance.
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In particular, the 54 financing rounds closed in the first quarter of 2022 were 6 Series A, 4 Series B, 2 Series C and 1 Series D. In addition, 10 exits were registered.
With reference to the type of rounds, the Serie B (228.7 million) weigh on the total invested for a share of 54%, given that it is however strongly influenced by the ScalaPay mega round (equal to almost half of the total collected in the quarter). . In terms of the number of rounds, after stabilizing at around 10 from 2018 to 2020, Serie B hit 19 in 2021.
Despite having collected less than the Serie B, the Serie A constitute the real hard core of the total invested thanks to a more homogeneous distribution between the rounds. In Q1 2022, approximately 73 million euros were raised (+ 13% compared to Q1 2021).
There has also been a considerable increase in the average and median size: the former almost doubled the 2021 figures, reaching 8.6 million. The second grew almost 3 times, reaching 8 million. Finally, the seeded rounds are the most represented type (32 deals), with an average denomination of just over one million euros.
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Fintech, food and life science account for 85%
Going deeper into the analysis by sectors, Fintech ranks in the lead with 253.5 million raised in Q1 2022 in 9 rounds. Italian Fintech confirms the trend towards closing rounds of significant size, in line with other European markets.
In second place is Food and Agriculture (53.5 million in 4 rounds), followed by Life Sciences (47.5 million in 7 rounds). Investments in these three macro-sectors account for almost 85% of the harvest in the quarter.
The Top 5
Considering that the Research Observatory considers only the part raised in equity, the first five rounds of the first quarter of 2022 are those of
- Scalapay (Series B, 188.1 million),
- Moneyfarm (Series D, 53 million),
- Planet Farms (Serie A, 30 million),
- Everli (Series C, 22 million),
- Kither Biotech (Serie B, 18.5 million).