As the Italian venture capital has changed over the last decades and information on its evolution is rather fragmented in this post I try to put together the relevant information starting since the beginning of the Italian venture capital market till its more recent developments.
The Italian venture capital market has overcome different waves of growth and specialization trends in the past 25 years. The market has notably been affected by the economic cycles and by some major facts that have influenced the whole economy as well. The evolution of the Italian venture capital market can be focused in specific periods. In particular, from 1900 till 1986 (almost a century) venture capital has been present in the country, only in a form that we might call "Informal VC". Important entrepreneurs contributed, by way of private investments, to the foundation of new companies. In the 70s though the capital needed to finance the growth of new and consolidated businesses was primarily coming from the bank system; both the capital market and the Venture Capital were not broadly used by Italian entrepreneurs. 1986 represented an historical change of pattern. Indeed, A.I.F.I. (the Italian Venture Capital and Private Equity Association) was formed and 15 operators took off, starting to implement some pure venture capital investments. This first wave of Institutional venture capital players,decided to enter the Italian market also due to the great success that VC was having in the United States.
The Italian venture capital market has overcome different waves of growth and specialization trends in the past 25 years. The market has notably been affected by the economic cycles and by some major facts that have influenced the whole economy as well. The evolution of the Italian venture capital market can be focused in specific periods. In particular, from 1900 till 1986 (almost a century) venture capital has been present in the country, only in a form that we might call "Informal VC". Important entrepreneurs contributed, by way of private investments, to the foundation of new companies. In the 70s though the capital needed to finance the growth of new and consolidated businesses was primarily coming from the bank system; both the capital market and the Venture Capital were not broadly used by Italian entrepreneurs. 1986 represented an historical change of pattern. Indeed, A.I.F.I. (the Italian Venture Capital and Private Equity Association) was formed and 15 operators took off, starting to implement some pure venture capital investments. This first wave of Institutional venture capital players,decided to enter the Italian market also due to the great success that VC was having in the United States.
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