Italian Founders Fund

What Italian Founders Fund does

Italian Founders Fund (IFF) is an Italy-based venture capital firm managed by Koinos Capital SGR S.p.A. and headquartered at Via Fatebenefratelli Saffi No. 9, 20121 Milan. Founded in 2024 and positioning itself as "Italy's first founder-backed VC," IFF invests in early-stage technology companies with Italian DNA — those born in Italy, expanding into Italy, or founded by Italians anywhere in the world. The fund deploys initial checks of €250k to €3m from Pre-Seed through Series A, leads or co-leads rounds, and provides active operational support through a founder community of 100+ venture builders and entrepreneurs. As of August 2025, IFF operates with €90 million in total investment capacity following a €35 million commitment from CDP Venture Capital's Digital Transition Fund; this capital enables the IFF Expansion vehicle to participate in follow-on and later-stage rounds across the portfolio lifecycle.

The fund's product is fundamentally equity capital deployment rather than a software or services product, and it does not develop proprietary technology. Portfolio companies operate across B2B SaaS, fintech/payments, HR-tech, construction-tech, healthcare, and AI infrastructure — including Jet HR (payroll/HR), Klearly (hospitality payments), Skillvue (AI skill assessment), Seltz (AI agent web infrastructure), Compri (AI procurement), Pillar (construction OS), Sona (workforce management), ReportAId (healthcare AI), CommerceClarity (e-commerce AI), Glaut (customer research AI), and Salupay (healthcare payments). IFF generates returns through carried interest and exit proceeds on portfolio equity; the entity itself does not sell products or charge portfolio companies for investment services, and LP-level fees are not publicly disclosed. The fund leverages co-investment relationships with international partners (Base10, Balderton, Y Combinator, Speedinvest, B Capital, Earlybird, PayPal Ventures, N47) to extend capital reach and unlock global fundraising pathways for portfolio companies as they scale.

IFF's go-to-market is community-led and founder-network-driven rather than institutionally marketed. Deal flow originates through referrals from the venture founders' network, a structured Entrepreneur-in-Residence program (which has produced portfolio companies such as Compri), an open Notion-based investment proposal form, and the partners' prior founder experience. The operating team is deliberately lean at six investment professionals plus a fund administrator, with two Partners (Lorenzo Franzi, Irene Mingozzi), a Principal (Virginia Bassano), a Senior Investment Manager (Ascanio Orombelli), a Senior Investment Analyst (Livia Figarolo di Gropello), and Investment Operations (Leonardo Cerretani). IFF's customer base therefore consists of (a) portfolio companies receiving capital and operational support and (b) limited partners providing fund capital; the latter is concentrated with CDP Venture Capital's Digital Transition Fund as a major anchor.

Name

Italian Founders Fund

Legal name

Koinos Capital SGR S.p.A.

Website

https://italianfoundersfund.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Italian Founders Fund is a Milan-based venture capital firm, managed by Koinos Capital SGR, that invests €250k–€3m checks from Pre-Seed to Series A in early-stage technology companies with Italian roots globally, operating with €90M in investment capacity and a founder-network-led deal sourcing model.

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

Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)

akta.pro secondary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

Keywords

• Venture capital fund
• Early-stage investing
• Pre-seed to series A
• Founder-friendly financing
• Startup community

Headquarters

HQ city

Milano

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Fund Management / Carry and Returns: Italian Founders Fund generates returns through equity ownership in portfolio companies. The fund earns carried interest and return on investment from successful exits of portfolio companies. It operates as a VC fund managed by Koinos Capital SGR, raising capital from LPs and deploying it into early-stage startups for equity returns.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Italian Founders Fund is a founder-backed venture capital fund that invests from Pre-Seed to Series A in companies with Italian DNA—born in Italy, expanding in Italy, or founded by Italians anywhere in the world. Initial investments range from €250k to €3m per company, complemented by active support from the operating team and a broad founders community, founder-friendly terms, and co-investment support alongside international funds. The fund is managed by Koinos Capital SGR S.p.A. and has a total investment capacity of €90 million.

Product overview

Italian Founders Fund is a founder-backed venture capital firm that provides early-stage investment services to entrepreneurs with Italian roots and global ambitions. The fund operates a portfolio investment model, deploying capital from Pre-Seed through Series A stages with investment ranges of €250k to €3m per company. The fund offers active support through its operating team and founder community, distinguishing itself through speed, transparency, and founder-friendly terms. The fund is managed by Koinos Capital SGR and has investment capacity of €90 million following a €35 million investment from CDP Venture Capital's Digital Transition Fund.

Differentiator

Problem solved

Functional benefit

Products and services

• Italian Founders Fund Pre-Seed to Series A Investment Program Core venture capital investment program deploying €250k to €3m in equity into early-stage companies founded by entrepreneurs with Italian roots, with active operating support and founder-friendly terms.
• IFF Expansion Fund Follow-on and later-stage investment vehicle that builds on IFF's Pre-Seed to Series A program, enabling the fund to support portfolio companies through subsequent rounds as they scale.
• Entrepreneur-in-Residence (EiR) Program

Named customers13 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Koinos Capital SGRcoreOthersItalian Founders Fund is managed by Koinos Capital SGR S.p.A., an investment company built by entrepreneurs and industry and tech leaders. Koinos Capital provides the regulatory, administrative, and operational infrastructure for the fund, enabling IFF to focus on investment activities.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• LIFTT: Italy-based early-stage VC backed by Cassa Depositi e Prestiti. Direct peer in stage and Italian founder focus, with comparable institutional LP backing from CDP Group (the same parent that backs CDP Venture Capital).
• United Ventures: Italy-based early-to-growth-stage VC investing in Italian-founded tech companies. Directly comparable stage, geography, and target founder profile to IFF, and is the most established domestic competitor for the same deal pool.
• P101 Ventures: Italy-based early-stage VC focused on Italian and Southern European digital startups. Operates at the same Pre-Seed/Seed stages as IFF with similar check sizes and an active portfolio support model.
• Primo Ventures: Milan-based early-stage VC investing in Italian tech founders from Seed to Series A. Highly comparable to IFF in geography, stage, and target founder profile, and a frequent co-investor on Italian deals.
• H-Farm: Italian innovation platform combining venture capital, accelerator, and education programs. Comparable as a domestic early-stage capital provider in Italy, with a broader operating model that includes an accelerator track.
• N47: European early-to-growth-stage VC that has co-invested with IFF (e.g., led Sona's $45M Series B). Comparable in stage and the willingness to back Italian-founded companies at growth rounds.

Regional players

• Speedinvest: Pan-European early-stage VC with active Italian deal flow and a co-investment relationship with IFF (co-led Seltz's $12.5M seed). Comparable in stage and check size, and an active competitor for cross-border European deals.
• Base10 Partners: US-based VC investing in 'software for the real economy,' with a relationship to Italian-founded companies and repeated co-investment with IFF (led Jet HR's €25M Series A and co-led Pillar's €12M seed).

Broad incumbents

• Y Combinator: Premier global startup accelerator that IFF has co-invested alongside. Not a direct Italian-stage peer, but its accelerator model and global brand define the competitive reference point for founder-friendly terms and speed of decision-making that IFF aspires to.
• Azimut Group: Italy's largest independent asset manager with a private markets/VC arm. Comparable as a large Italian-domiciled capital allocator with growing early-stage tech exposure, but operates at much broader scale and a more institutional profile.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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

M&A

Investments25 records

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

Frequently asked questions about Italian Founders Fund