United Ventures

What United Ventures does

United Ventures is an independent Italian venture capital firm founded in 2013 by Massimiliano Magrini (formerly founding Country Manager of AltaVista and Google Italy) and Paolo Gesess, headquartered in Milan with a secondary office in Rome. The firm manages multiple fund vehicles spanning early and growth stages: UV2 (€120M, closed December 2019), UV T-Growth (€150M, with TIM Ventures, July 2020), UV III (€150M target, July 2023) with SFDR Article 8 classification, and regional parallel funds UV2L Lazio (€10M, with Lazio Innova) and UV III Lombardia (€14.589M, with Finlombarda/Fondo di Fondi Lombardia Venture). Across these vehicles the firm has built a portfolio of 30+ companies spanning deep tech, AI, cybersecurity, quantum computing, fintech, SaaS, agtech, edtech, insurtech, hospitality tech, and space economy, including Algorithmiq, Smartness, Cleafy, xFarm Technologies, Moneyfarm, D-Orbit, and Exein.

The firm earns revenue through traditional VC economics — management fees on committed capital and carried interest on successful exits — with limited partners spanning national development institutions (CDP Venture Capital SGR), corporate venture (TIM Ventures), regional government-backed funds (Lazio Innova, Finlombarda), and EU programmes (Horizon 2020/EFSI, Competitiveness and Innovation Framework Programme). An 18-person team covers investment (founders, partners, principals, analysts), platform and data science, ESG/communications, and operations/legal functions, and holds Bank of Italy AIFM authorization.

Go-to-market is network-driven: deal sourcing flows from existing portfolio founder referrals, co-investor relationships (Partech, CDP Venture Capital, Seaya Ventures, Speedinvest, B Capital), and direct outreach, complemented by a Substack newsletter, active LinkedIn presence, the Tech Insights conference, and a public proposal submission portal. United Ventures became a UN-supported PRI signatory in February 2023 and classifies UV III under SFDR Article 8 for promoting social and environmental characteristics, reflecting institutional LP alignment and ESG positioning.

Name

United Ventures

Legal name

United Ventures SGR SpA

Website

https://unitedventures.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

United Ventures is an independent Italian venture capital firm founded in 2013 that manages €440M+ across early and growth-stage funds, investing in deep tech, AI, cybersecurity, quantum, and fintech founders across Italy and Europe.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Other Investment Pools and Funds (5259), Other Financial Vehicles (525990)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industry

Joint Venture CVC / Consortium Funds (Multi-corporate) (FSANAHAE)

Keywords

• Venture capital
• Early-stage investing
• Growth-stage investment
• Deep tech funding
• Technology startups

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Venture Capital Fund Management: United Ventures manages multiple venture capital funds (UV1, UV2, UV2L, UV III, UV III Lombardia) investing in early to growth-stage technology companies. Generates revenue through management fees on committed capital and carried interest on successful exits.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

United Ventures is an independent Italian venture capital firm that invests patient capital in visionary technology founders from early to growth stage across deep tech, AI, cybersecurity, quantum computing, fintech, SaaS, and digital transformation. The firm manages a stack of dedicated fund vehicles (UV2, UV III, UV2L, UV III Lombardia, UV T-Growth) and supplements capital with strategic guidance, operational support, network access, ESG integration, and an internal data science function to assist portfolio companies from inception through exit.

Product overview

United Ventures is an independent Venture Capital firm offering investment across multiple fund vehicles targeting different growth stages. The firm's product suite comprises four primary fund products: UV3 (€150M early-stage fund with SFDR Article 8 designation), UV3 Lombardia (regional co-investment vehicle), UV2 (€120M fund with EU support), UV2L (regional parallel fund for Lazio), and UV T-Growth (€150M late-stage fund with TIM). Beyond fund management, United Ventures provides investment proposal submission services for founders and press/media resources for coverage of portfolio companies.

Differentiator

Problem solved

Functional benefit

Brands

• UV T-Growth: Late stage growth fund in partnership with TIM Ventures targeting innovative enterprises in Italy and Europe
• UV2 Lazio
• UV3 Lombardia

Products and services

• United Ventures III (UV III) Flagship early-stage venture capital fund with a €150M target, investing across deep tech, AI, cybersecurity, quantum computing, fintech, SaaS, and digital transformation in Italy and Europe, while promoting social and environmental characteristics under SFDR Article 8. Limited partners include institutional investors and government-backed fund-of-funds.
• UV III Lombardia Regional parallel fund to UV III targeting deep tech scale-ups in Lombardy, co-financed by Finlombarda SpA through the Fondo di Fondi Lombardia Venture with €14,589,000 commitment approved in September 2023; co-invests alongside UV III in companies operating in Lombardia.
• United Ventures II (UV2) €120M early-stage venture capital fund supported by InnoFin Equity and the European Union under Horizon 2020, focused on early-stage innovative technology companies in Italy and Europe. Investors include the EU's Competitiveness and Innovation Framework Programme and FARE Lazio.
• UV2L (UV2 Lazio) €10M regional parallel fund co-financed by Lazio Region through the FARE Lazio programme (Lazio Innova), co-investing with UV2 in early-stage software and digital technology companies based in the Lazio region.
• UV T-Growth €150M late-stage venture capital fund co-launched with TIM Ventures, targeting late-stage innovative enterprises in Italy and Europe, with CDP Venture Capital SGR as an LP.
• Startup Investment Proposal Submission Service Online submission portal allowing founders of innovative tech startups to submit investment proposals for funding consideration by United Ventures.
• Press & Media Services Press kit and media resources for journalists and media outlets covering United Ventures and its portfolio companies, with contact information for press inquiries.

Quantifiable outcome

• UV2 closed at €120M; UV III targeting €150M; largest Italian quantum VC investment (Algorithmiq €36M total); largest Italy vertical SaaS round (Smartness €47M Series B)

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• ClimatePartnerminorOthers · 1 January 2025United Ventures partners with ClimatePartner to calculate greenhouse gas emissions, continuously reduce them, and offset unabated emissions through carbon offset projects as part of its sustainability commitments.

Scale indicators6 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• P101: P101 is an Italy-focused early-stage VC investing in Italian digital and tech startups. Highly comparable to United Ventures in geography, stage focus, and Italian LP base, though slightly more digital/consumer-leaning than United Ventures' deep-tech tilt.
• Primomiglio: Primomiglio is an Italian early-stage VC backing Italian tech startups. Comparable to United Ventures on Italy-centric mandate and early-stage digital focus, serving a similar founder/regional LP ecosystem.
• LVenture Group: LVenture Group is a Rome-headquartered Italian VC/accelerator listed on Borsa Italiana. Comparable to United Ventures as an Italian early-stage tech investor with a public-market angle and parallel regional/accelerator programs (similar to UV2L/UV3 Lombardia).
• Indaco Venture Partners: Indaco is an Italian early-stage VC with primary focus on Italian deep-tech and digital startups, managing multiple regional/parallel funds. Directly comparable to United Ventures' Italian deep-tech early-stage thesis and regional parallel fund structure.

Broad incumbents

• CDP Venture Capital SGR: CDP Venture Capital is Italy's largest national development VC and a direct LP in UV T-Growth. Comparable as a much larger Italian tech VC platform that both funds and competes with United Ventures, with broader sector and stage coverage.
• Partech: Partech is a pan-European (Paris-headquartered) tech VC that co-invested in United Ventures' portfolio (Smartness €47M Series B, xFarm Series C). Comparable as a larger, pan-European deep-tech and growth-stage investor that overlaps with United Ventures' growth and impact theses.
• Speedinvest: Speedinvest is a Vienna-based European early-stage VC with deep-tech and sector-focused verticals. Co-led United Ventures' Seltz $12.5M seed; comparable in stage focus and European footprint, with much larger AUM and broader sector coverage.
• Earlybird Venture Capital: Earlybird is a Berlin-based European early-stage VC with deep-tech, industrial, and growth funds. Comparable to United Ventures on European tech early-stage thesis, with a longer track record and meaningfully larger AUM.
• Balderton Capital: Balderton is a London-based European early-stage VC backing tech startups from Series A onward. Comparable as a larger pan-European early/growth-stage tech investor operating in overlapping geographies with United Ventures' portfolio companies.

Emerging players

• B Capital: B Capital is a global early/growth-stage VC that co-led United Ventures' Seltz $12.5M seed. Comparable as a growing cross-border tech investor with overlap in fintech, SaaS, and AI infrastructure themes that intersect with United Ventures' portfolio.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks2 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/2985061
• Xx.com/unitdventures
• Facebookfacebook.com/UnitedVenturesOne

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments82 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about United Ventures