Eureka! Venture launches €20M DeepTech fund with Lazio Innova as anchor
What's the deal? Milan-based Eureka! VentureDealroom has a profile for this one. Try Dealroom → has launched Eureka! Fund II – Deep Tech Lazio, a €20 million early-stage venture fund backing Italian DeepTech startups. The fund invests from proof-of-concept and pre-seed through seed and other early-stage rounds.
Who's behind it? Lazio InnovaDealroom has a profile for this one. Try Dealroom → will manage the fund and is anchoring it with a €16 million commitment. It succeeds Eureka! Fund I – Technology Transfer, launched in 2020.
What's the endgame? The fund carries an unusual mechanism for asymmetric allocation of profits and losses in favour of private investors. Eureka! chief executive Stefano Peroncini said it aims to attract new backers to DeepTech, "a strategic asset class that is still under-represented in Italian investors' portfolios."
He added that the tool helps in "reducing barriers to entry and, over time, helping to build a broader base of private capital dedicated to innovation."
Why now? Eureka! enters a European DeepTech market that stayed active through 2026. In Italy alone, recent deals include €14 million for seismic firm ISAAC, €11.8 million for Circular Materials, and Rome-based Exein's €234 million later-stage round in Lazio.
The bigger firm. Founded in 2019, Eureka! Venture is an independent asset manager supervised by the Bank of Italy and Consob. It has raised over €190 million across funds spanning technology transfer, AI, UrbanTech, and SMEs.
The signal: Italy's DeepTech scene is drawing fresh institutional capital, echoing new vehicles like 360 Capital's €85 million Poli360 2 and Elaia's €134 million seed fund. With a regional anchor and a private-investor-friendly structure, Eureka! is betting that public backing can pull more private money into a still-thin corner of the market.
Read more: EU-Startups
Image credit: Generated with Gemini
