Digital Magics
Digital Magics (now Zest Group) is an Italian early-stage venture capital and startup acceleration firm serving tech founders with equity investment, 7 acceleration programs, and 13 sector-themed investment vehicles, alongside Open Innovation and Corporate Venturing advisory for corporate and institutional clients.
- Company typePrivate
- Founded2003
- HeadquartersMilan, Italy
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Digital Magics does
Digital Magics, now operating as Zest Group following its 2023 merger with LVenture Group, is an Italian venture capital and startup acceleration firm headquartered in Milan, with additional offices in Rome and Turin. Founded in 2003, the firm describes itself as the market leader in Italy for early-stage venture capital, startup acceleration, Open Innovation, and Corporate Venturing, and operates across eight sector verticals including AI, Cybersecurity, CleanTech, HealthTech, InsurTech & FinTech, and Smart City & Factory. Its core business is built around 13 investment vehicles, 2 joint ventures, 7 acceleration programs, a portfolio of 250+ startups, and a dealflow pipeline of 20,000+ companies evaluated over time.
The firm's service stack comprises three interlocking lines: (1) early-stage equity investment and acceleration for ambitious tech founders, (2) Open Innovation and Corporate Venturing advisory for enterprises and institutions seeking technological transformation, and (3) sector-specific investment vehicles that deploy capital thematically. Supporting infrastructure includes a three-city Italian office network, a UNIDO ITPO Italy partnership for international Innovation Hub capacity building, and marketing channels centered on LinkedIn, Facebook, Instagram, and a content hub.
The revenue model is primarily transaction-fee and management-fee based: the firm realizes returns through equity investments in early-stage startups (via exits, IPOs, or secondary sales) and earns advisory and Corporate Venturing fees from corporate and institutional clients. Pricing for advisory and acceleration services is quote-based and negotiated individually, and there is no disclosed productized pricing, software revenue, or subscription model.
Digital Magics firmographics
Firmographics- Name
- Digital Magics
- Legal name
- Zest Group
- Website
- https://digitalmagics.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Digital Magics (now Zest Group) is an Italian early-stage venture capital and startup acceleration firm serving tech founders with equity investment, 7 acceleration programs, and 13 sector-themed investment vehicles, alongside Open Innovation and Corporate Venturing advisory for corporate and institutional clients.
- Ownership category
- akta.pro rank
Digital Magics industry classification
Industry- Product category
- Venture Capital and Startup Acceleration
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Investment Advice (6282), Finance Services (6199)
- akta.pro primary industry
- Digital & Technology Transformation Consulting (BPAHACAH)
- akta.pro secondary industries
- Digital Strategy & Transformation (BPAHAEAA), Emerging Tech (IoT, Blockchain, AR/VR, Edge) Consulting (BPAHAEAL)
Keywords
Where Digital Magics is headquartered
LocationHeadquarters
- HQ city
- Milan
- HQ country
- Italy
- HQ region
- Europe
Offices3 records
Markets served
Digital Magics business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Venture Capital Investments: The firm generates returns through equity investments in early-stage startups and technology companies. Revenue is realized through exits, IPOs, or secondary sales of portfolio companies.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Digital Magics product offering
Product offeringCore offering
Digital Magics, now operating as Zest Group following its 2023 merger with LVenture Group, is an Italian venture capital and startup acceleration firm that invests equity capital in early-stage technology startups through 13 investment vehicles and 2 joint ventures. It runs structured acceleration programs, Open Innovation advisory services, and Corporate Venturing engagements to support founders and to drive technological transformation for companies and institutions across sectors including AI, Cybersecurity, CleanTech, HealthTech, FinTech, and Smart City technologies.
Product overview
Digital Magics (now part of Zest Group following a merger with LVenture Group) operates as a venture capital and startup acceleration firm offering a platform of services including startup acceleration programs, open innovation advisory services, and corporate venturing solutions. The company has invested in 250+ high-potential tech startups across sectors including AI, Cybersecurity, CleanTech, Data & Business Software, HealthTech, InsurTech & FinTech, Lifestyle & Consumer Tech, and Smart City & Factory. The services work together to provide 360-degree support from identifying investment opportunities through acceleration and corporate innovation programs.
Differentiator
Problem solved
Functional benefit
Products and services
- Startup Acceleration Programs
- Open Innovation Services
- Corporate Venturing
- Investment Vehicles
Companies that use Digital Magics
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Digital Magics technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Digital Magics partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- UNIDO ITPO ItalyminorZest Innovation and UNIDO ITPO Italy collaborated on a training program for five Iraqi managers to develop new Innovation Hubs in Iraq, supporting innovation capacity building in emerging markets.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Digital Magics competitors and assessment
Company assessmentBroad incumbents
- CDP Venture Capital: Italian state-backed venture capital operator managing multi-billion-euro funds across all stages and sectors. Directly comparable as a domestic Italian VC competitor with substantially greater capital, but broader in mandate and stage.
- Balderton Capital: Leading European venture capital firm based in London, investing across all stages. Comparable as a broader European VC that competes for the same cross-border Italian and EU tech opportunities at slightly later stages.
Direct peers
- P101: Italy-focused early-stage venture capital firm investing in digital and tech startups. Closely comparable as a domestic Italian early-stage VC with a similar seed-to-Series A focus and Italian entrepreneur network.
- United Ventures: Italian venture capital firm investing in B2B software and digital innovation. Comparable as a domestic Italian early-to-growth VC serving the same founder base and limited partner ecosystem as Zest.
- 360 Capital Partners: European venture capital firm with strong Italian presence, investing in deep tech, digital, and sustainability. Comparable as a pan-European early-stage peer with overlapping portfolio sectors (AI, CleanTech).
- Primo Ventures: Italian early-stage venture capital firm with a focus on digital and innovative startups. Comparable as a domestic Italian seed/early-stage VC targeting similar technology sectors and founder profiles.
- Indaco Venture Partners: Italy's largest independent venture capital manager, investing across digital, medtech, and cleantech. Directly comparable as a domestic Italian early-stage VC with a similar multi-sector thesis.
- Speedinvest: European early-stage venture capital firm with sector-focused funds (fintech, deep tech, health, etc.). Comparable as a pan-European peer with specialized sector funds, increasingly active in Italian dealflow.
Emerging players
- Techstars: Global startup accelerator and venture capital firm running mentorship-driven programs worldwide. Comparable as a global accelerator model that intersects with Zest's 7 acceleration programs in methodology and founder support, though Techstars is much larger and global.
Others
- LVenture Group (pre-merger): Now merged with Digital Magics to form Zest Group, LVenture Group was a Rome-based startup accelerator and early-stage investor. Included as a historical reference peer — its assets and programs are now part of Zest, illustrating the consolidation path.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Digital Magics social profiles
Digital presenceDigital Magics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Digital Magics leadership team
Management profileNumber of profiles
Profiles5 records
Digital Magics funding detail
Funding detailFunding overview
Funding rounds5 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Digital Magics M&A and investment
M&A and investmentM&A1 record
Investments94 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Digital Magics
What does Digital Magics do?
Digital Magics, now operating as Zest Group following its 2023 merger with LVenture Group, is an Italian venture capital and startup acceleration firm that invests equity capital in early-stage technology startups through 13 investment vehicles and 2 joint ventures. It runs structured acceleration programs, Open Innovation advisory services, and Corporate Venturing engagements to support founders and to drive technological transformation for companies and institutions across sectors including AI, Cybersecurity, CleanTech, HealthTech, FinTech, and Smart City technologies.
Is Digital Magics a public or private company?
Digital Magics is a private company. It is classified as venture growth investor backed and is currently operating.
When was Digital Magics founded?
Digital Magics was founded in 2003. It employs 51 to 100 people.
Where is Digital Magics based?
Digital Magics is headquartered in Milan, Italy, in the Europe region.
How does Digital Magics make money?
One revenue line is on record: venture Capital Investments.
Who are Digital Magics's main competitors?
Broad incumbents on record are CDP Venture Capital and Balderton Capital. Direct peers are P101, United Ventures, 360 Capital Partners, Primo Ventures, Indaco Venture Partners and Speedinvest. Techstars is listed as an emerging player. LVenture Group (pre-merger) is listed as an others.
Does Digital Magics have an API?
No public API is recorded for Digital Magics.
What industry is Digital Magics in?
Digital Magics's product category is Venture Capital and Startup Acceleration. Its primary akta.pro industry code is BPAHACAH, Digital & Technology Transformation Consulting, with a secondary code of BPAHAEAA, Digital Strategy & Transformation. Its NAICS code is 523940 and its SIC code is 6282.