Italy's Z_One Venture Fund Raises Over €35 Million at First Close
Z_One Fund, an Italian venture capital fund managed by Eureka! Venture, has announced a first close at more than €35 million. It is targeting €60 million in total and will back AI and UrbanTech startups.
Z_One Fund, an Italian venture capital fund managed by Eureka! Venture, has announced the first close of its fundraising. The fund has so far gathered more than €35 million against a total target of €60 million. It is designed to invest in startups working in artificial intelligence (AI) and urban technology (UrbanTech), giving such companies in Italy an additional source of funding.
Investor base
The fund's investors include some of Italy's most prominent institutional investors. One of them is CDP Venture Capital SGR, a venture capital management company, which has committed capital through its newly launched Fondo Acceleratori 2.
A first close means the fund has secured part of its planned total. Roughly €25 million remains to be raised to reach the €60 million target. The source text does not give further details on the investment strategy or the other investors.
