Italy's CDP launches early-stage fund, backs over 570 startups to date
What's the deal? CDP Venture CapitalDealroom has a profile for this one. Try Dealroom → has launched Fondo Acceleratori II, a venture fund aimed at strengthening Italy's early-stage startup financing. It will mainly back pre-seed and seed funds run by independent managers, with scope to invest directly in standout companies at Series A and B. The fund size was not disclosed.
What's the endgame? The fund is an evolution of the firm's first accelerator fund, which operated through dedicated vehicles tied to vertical acceleration programmes across Italy. This time, CDP will prioritise managers with strong early-stage investing experience, pairing them with operators that have a track record in running acceleration programmes.
Its first commitment is as anchor investor in the first close of Z_ONE, a new fund dedicated to early-stage startups that uses acceleration programmes.
Why now? The move responds to a mixed market. Italian startups raised €1.465 billion in the first nine months of 2026, up 71% year on year, but the number of rounds fell 31%, with pre-seed and seed deals down sharply.
By the numbers: CDP says the first accelerator fund enabled about €107 million of investment and mobilised a further €180 million in private capital. Over five years, its National Accelerator Network backed more than 570 startups, created roughly 1,200 jobs, and generated €150 million in combined revenue.
Chief executive officer Emanuele Levi said the network "has established itself as one of the country's most important infrastructures for innovation" (translated from Italian). Of those backed, more than 150 startups have raised follow-on rounds and 22 have reached Series A and B stages.
The signal: With early-stage deal volumes falling even as total funding rises, a fund built to shore up pre-seed and seed financing and draw in private capital is more than routine. Its real impact, however, will hinge on its undisclosed size and how much follow-on investment it can mobilise.
Read more: borsaitaliana.it
Image credit: Generated with Gemini
