NVM Ventures has officially launched with a €23.6 million fund, focusing on dual-use technologies. The initiative is led by founding partners Andrea Bonabello and Niccolò Bienati of Ulixes Capital Lux, alongside fund managers Giorgio Gulienetti and Alessandro Casiraghi.
The primary investor is Lazio Innova, which contributed €18.83 million via the Lazio Venture 2 fund of funds. This capital is supported by the ERDF Regional Programme 2021–2027. The fund aims to support emerging managers and foster startups in Italy's deep-tech sector.
The fund targets sectors including aerospace, maritime, robotics, cybersecurity, AI for defense, and advanced manufacturing. It specifically focuses on the transition phase from technology validation to industrialization for early-stage startups.
The Lazio region serves as a strategic hub, hosting over 300 advanced technology companies. These firms employ approximately 23,000 people and generate annual revenues exceeding €5 billion, with exports accounting for €1.6 billion of that total.
This launch aligns with a broader trend in European defense and dual-use investment. In 2026, EU-Startups recorded approximately €1.73 billion in funding across ten major deals in the sector, including investments in companies like Exein, Mirai Robotics, and ORiS.
