Total investments at 527 million euros in Q3 2022 and over 1.5 billion in the first nine months of the year, a sum that already far exceeds investments for the whole of 2021. The number of rounds in Q3 2022 (58) is in line with the previous quarter (62) and brings the total recorded in the first 9 months of the year to 197.

Fintech is the sector with the highest number of rounds, Software the sector with the highest number of rounds. Growing presence of international investors. Two rounds above 100 million euros. This is the snapshot taken of the Italian innovation ecosystem by the Observatory on Venture Capital in Italy, carried out by Growth Capital, in collaboration with Italian Tech Alliance, the Italian association of Venture Capital, investors in innovation and innovative start-ups and SMEs.

Now in its third edition, the report captures investment and trends in the Italian Venture Capital ecosystem in the July-September 2022 quarter. 

The figure on the involvement of international investors is comforting: in 2022 they participated in 30 percent of the rounds over €1 million, a figure that is up both from 25 percent in 2021. In terms of the amount raised, 2022 saw an increase in the incidence of rounds with the presence of foreign investors (72 percent compared to 57 percent in 2021), a trend already anticipated in previous editions of the Observatory and which is expected to continue in the medium to long term.

"As already predicted at the beginning of the year, Italian Venture Capital continues to record sustained growth, exceeding, in this quarter, the entire invested 2021. According to our estimates, the Italian market will be able to grow between 40 percent and 60 percent reaching 1.8-2.0 billion euros by the end of the year; this is against the flat expectations for Europe," comments Fabio Mondini de Focatiis, Founding Partner of Growth Capital.