United Ventures announced the closure of its first fund with 60 million euros, about 10 millions above the original target (download here ihe press release).
United Ventures is the European technology-focused venture capital firm founded by Paolo Gesess and Massimiliano Magrini, who previously founded, respectively, JV Capital and Annapurna Ventures, United Venture launched its fundraising in early 2013 thanks to the sponsorship of the Italian Government promoted private equity fund of funds Fondo Italiano d’Investimento who invested 10 million euros as a corner investor in the new venture fund allowing it to announce a first closing in March 2013 with 30 million euros raised.
The objective is to invest an average of 1-6 millions across a total of 20 companies in Italy and Europe across sectors that include digital technologies, software, mobile, cmmerce and gaming.The new fund, entitled United Ventures One, has already invested over 16 million euos in nine companies operating across Europe and North America (MoneyFarm, Cloud4WI, Halldis, Appsbuilder, 20Lines, Marinanow, LoveTheSign, Musicmatch and Badseed).
