United Ventures, a Milan-based venture capital firm, has announced the launch of its new fund, United Ventures III, with a €150 million fundraising target. The first closing of the fund has been finalized and has received commitments from Italian and international institutional investors. With the achievement of the funding target, United Ventures will manage a total of 500 million euros, already including two early stage funds and a growth fund.
"We have a strong belief that innovative businesses that address critical issues often overlooked in their early stages have the potential to make significant progress for society. We are excited to support these visionary entrepreneurs who are seeking to make a difference in the technology world," said Massimiliano Magrini, co-founder and managing partner of United Ventures.
United Ventures III will invest in 15-18 early-stage European technology companies, offering initial investments ranging from 1 to 8 million euros. The focus will be on companies that develop technological solutions for sectors that are still not digitalised, with the aim of improving people's quality of life and promoting sustainable development.
The United Ventures team consists of 15 professionals with diverse skills and has a track record of 35 investments in Europe and the United States. In 2022, the company achieved international exits with FACEIT and Musixmatch, generating over 10X return on investment.
Furthermore, United Ventures promoted Giulia Giovannini and Sara Lovato as Investment Partners of the new fund and appointed Jacopo Drudi as Operating Partner to support the growth of the portfolio companies. Mariarosaria Taddeo, expert in artificial intelligence and ethics of digital technologies, has been added to the Board of Directors as a second independent member.