Poli360, the university venture fund affiliated with Politecnico di Milano and managed by VC firm 360 Capital, has reached an €85 million first close for its second fund.
LPs in the fund include CDP Venture Capital, which operates the Technology Transfer Fund, a vehicle that makes both direct investments in deeptech startups and other funds that do the same.
The European Investment Fund, Italian pension funds, and family offices have also backed Poli360 2, as have automotive parts manufacturer Brembo, missiles developer MBDA, and steel products manufacturer Lucchini RS.
The fund, which has a €100 million target, was launched in 2023 to invest in 20 to 25 early-stage deeptech spinouts and startups.
Its focus is on Italy, though a fifth of the fund may be invested elsewhere in Europe. Politecnico di Milano, its tech transfer office, and its accelerator PoliHub function as important dealflow sources for the fund.
Poli360 2 will seek out opportunities in two broad areas: industry automation and sustainability. The former includes technologies such as robotics, industry 4.0, semiconductors, cybersecurity, AI, IoT, civil and industrial infrastructure, industrial machinery and IT. The latter includes new materials, the energy transition, and the circular economy.
“With Poli360 2, we are strengthening our commitment to transforming world-class Italian and European research into globally competitive companies. By working side by side with universities, research centers, and visionary founders, we aim to support the next generation of deeptech champions who will shape the technological landscape of the coming decade.“
Alessandro Zaccaria, partner at 360 Capital
The first Poli360 fund was established in 2018 and counts 20 portfolio companies.
