New €30 million Step Fund targets early-stage Italian startups with international growth potential
Milan-based venture capital firm Step Venture has announced the first closing and operational launch of its Step Fund at €30 million, with a goal of reaching €50 million and a hard cap of €80 million. The fund aims to invest in early-stage Italian startups that have the potential for international expansion, targeting companies in FinTech, HealthTech, B2B software, and connected-world technologies. This development highlights the growing investment interest in Italy’s digital and AI-driven sectors and aligns with broader European initiatives supporting early-stage innovation. The Step Fund's initial funding includes a €20 million commitment from CDP Venture Capital Sgr, acting as the anchor investor through the Digital Transition Fund (DTF). The DTF is supported by the EU’s NextGenerationEU initiative. Other investors involved in the project include Zest, Reale Mutua, and Add Value. Step Venture was founded in 2022 by Maria Imbesi, Roberto Montandon, Michele Novelli, and Gennaro Tesone, who bring extensive experience in building, scaling, and exiting tech companies across Europe. This funding will support Italian startups in a variety of sectors, including those focusing on AI-powered HR platforms, workplace learning AI, and generative-AI legal platforms. The launch of Step Fund reflects a growing confidence in Italy’s AI and B2B software ecosystem. This mirrors the broader European trend of early-stage capital formation, where firms like Maia Ventures, Adara Ventures, and Armilar Ventures have also launched substantial funds to support innovation in digital and deep tech sectors.
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