Bebeez Report on the VC market and Italian startups

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Over 5 billion euros has been raised by startups and scaleups with an Italian DNA (Italian founders based in Italy or abroad) in the previous five years, with 2.9 billion raised by Italian firms headquartered in Italy and 2.2 billion raised by Italian companies based overseas.

In 2021, Italian startups and scale-ups raised a total of € 2.9 billion, which was spread over 534 deals. Instead, in 2020, a total of € 780 million was collected in 306 activities. The previous year, €605 million was spent on 244 operations.

This pace isn’t slowing down: in the first months of 2022, Scalapay, an Italian scaleup, closed a $ 497 million round, setting a new high.

The globalization of venture capital accelerated in 2021, with both Italian-based and Italian-founded enterprises growing and attracting overseas investors. At the same time, venture capital funds in Italy are expanding and investing in startups outside of the country. Not just VC firms, but also corporations, are investing abroad: they embrace open innovation with no geographical boundaries, looking for innovation where it is born.

In 2021, a rising number and diversity of investors entered the Italian Venture Capital market, including investment holdings, corporations, business angels, equity crowdfunding platforms, incubators, and accelerators, in addition to specialist funds. The following is a comprehensive list of operations and operators.

Last year, 20 corporations received a substantial portion of the collection, which totaled 2.05 billion euros. Many of these scaleups were started by Italians outside of Italy, mostly in the United States and the United Kingdom, in order to develop a worldwide business model more quickly (details here). Sysdig is the highest-ranking scaleup. It closed a $ 188 million round in April, followed by a $ 350 million round in May. It was created by Italian Loris Degioanni. In 2021, ScalaPay, established by Simone Mancini and Johnny Mitrevski, closed two more transactions. In January, he made $ 48 million, and in September, he made $ 155 million.

The third place on this podium goes to TrueLayer, a UK-based scaleup, founded by the Italians Francesco Simoneschi and Luca Martinetti, which also closed two rounds last year: $ 70 million and $ 130 million respectively.

Finally, between 2016 and 2021, 40 scaleups raised the most money: 3.7 billion euros out of a total of 5.1 billion euros raised by all the mapped startups and scaleups. 16 of the 40 were created by Italians living abroad and have raised a total of 2.4 million euros. In 2021, Italian VCs made 35 investments in overseas startups and scaleups, as well as 15 secondary investments in foreign enterprises.

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