The Italian Z_One Fund has successfully closed its first funding round, securing over €35 million. The capital will be deployed to support pre-Seed and Seed stage startups specializing in AI applications and UrbanTech solutions, including smart city infrastructure and electric mobility.
The fund is backed by major institutional investors, including CDP Venture Capital SGR through its Fondo Acceleratori 2, Zest, Fondazione Compagnia di San Paolo, and Lazio Innova. The latter manages a parallel vehicle, Z_One Fund Lazio, which focuses on startups connected to the Lazio region.
Managed by the Milan-based firm Eureka! Venture, the fund aims to provide initial investments of up to €250 000 per startup, with follow-on funding reaching up to €1 million. Portfolio companies will also gain access to a structured acceleration program developed in partnership with Zest.
The leadership team, consisting of Luigi Capello, Giulio Montoli, and Giulia Fazzini, brings a collective track record of over 340 investments and 25 exits. Eureka! Venture, which oversees the fund, currently manages over €190 million across various technology-focused investment vehicles.
