United Ventures and TIM Ventures launch €150 million fund for late stage innovative enterprises in Italy and Europe
Summary
The new fund will also be open to other Italian and foreign institutional investors and will be managed independently by United Ventures. “TIM decisively relaunches its presence in the venture capital market alongside a partner with standing, namely United Ventures”, confirmed Giovanni Ronca, Chief Financial Officer at TIM. “With the launch of UV T-Growth we are committed to promoting the growth of 5G in Italy, which will be the enabling technology of the next few years for citizens and businesses. We are convinced that with this initiative we will encourage greater competitiveness, boosting new investments and confirming our support for digital development in Italy.” Massimiliano Magrini and Paolo Gesess, founders and managing partners of United Ventures, stated: “The launch of UV T-Growth is an important milestone for United Ventures and for the entire Italian innovation ecosystem, which thanks to this new fund is becoming stronger and increasingly integrated in its components. We are pleased to do this alongside TIM, a player that has made technology history in Italy, and that is now a virtuous example of a big corporation turning to Venture Capital as an innovation tool.”