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United Ventures launches second VC fund

United Ventures SGR, an independent Italian Venture Capital manager, has launched its second fund, UV2, having held its first closing at EUR75 million, higher than the total capitalisation of the firm’s first fund launched in 2013.

“UV2” aims to raise up to Euro 120 million during 2018 and its Anchor Investors will include leading institutional investors such as Fondo Italiano d’Investimento, the European Investment Fund, Banca Mediolanum, Banca Sella Holding and Fondazione di Sardegna.
United Ventures, founded in 2013 by Massimiliano Magrini and Paolo Gesess, invested over Euro 50 million with its first fund “UV1”, over five years in 13 “early stage” tech companies – including Moneyfarm, Cloud4WI, Musixmatch, Faceit, Loop AI and Mainstreaming – which collected a total of EUR70 million, leaving it with EUR20 million available for follow-on activities within the “UV1” portfolio.
United Ventures will continue to seek out the best entrepreneurs aiming to build global companies in digital technologies, business and consumer sectors. In particular, the new fund will concentrate on enabling technologies that will speed up the innovation of sectors that are not yet digitised, thus increasing their productivity.
Massimiliano Magrini, Co-founder and Managing Partner of United Ventures, says: “Our mission is to support new or serial entrepreneurs in the development of tech companies that can radically innovate sectors with high growth potential. Ubiquity of access and data availability will make it possible to apply Artificial Intelligence, Machine Learning and Predictive Analytics to already operative companies as well as start-ups deciding to explore new markets and to adopt new business models.”
Paolo Gesess, Co-founder and Managing Partner of United Ventures, adds: “With the new fund we want to continue, as we have done over the past 5 years, to be a solid partner for all entrepreneurs wishing to develop their businesses internationally, and who are looking for a capital partner to support their innovation process.” 

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