After having invested 500k euros last November, italy’s venture capitl firm P101 bets 800k euros more on Spanish e-commerce sportswear leader Deporvillage, MF Milano Finanza writes today.
This is part of a new 3.5 million euros investment round for Deporvillage, which saw Samaipata Ventures, Cabiedes&Partners and Italy’s media company Mediaset (through its corporate venture Ad4Ventures) as other investors.
Led by its founder Andrea Di Camillo, P101 was already a shareholder in Deporvillage as the fund partecipated in a 3.7 million euros investment round last November, together with Ad4Ventures and well known Spanish entrepreneurs (see here a previous post by BeBeez). So P101 owns now a stake close to 10% in Deporvillage capital.
Founded in 2010 by ceo Xavier Pladellorens and coo Angel Corcuera, Deporvillage saw a very fast grow in the last few years and is now targeting 25 million euros in revenues at the end of 2016 with 2.5 million visits per month.
Thanks to new finance, the company will go on growing both in Spain and in South Europe, especially in Italy. “With Deportvillage we are applying a more international approach to our investments”, Mr. Di Camillo said to MF Milano Finanza, adding that “P101 may invest both in Italian companies and in foregin companies having significant activities in Italy as this is the case of Deporvillage, which is already quite strong here. I think that it is important not to fix geografical horizons for investments as opportunities are transvee and if you invest in a foreign company which in turn invests in Italy, you have done a very good job for Italy’s economy anyway”.
Moreover Mr. Di Camillo said that “in Spain and Portugal there are many more investment opportunities than in Uk or US for a venture capital firm like P101 as competitors are much fewer than there even if there are very good companies where to invest”-
P101 is looking to other areas anyway. Last February the Italian venture capital firm had actually singed a partnership agreement with German venture capital firm Join Capital (see here a previous post by BeBeez) while a P101’s portfolio company, BeMyEye, a specialist in market surveys for in shop control, was born in Italy ut is now headquartered in London and it has recently acquired a company in France (see here a previous post by BeBeez).
