The week in Italian startups - Issue #98
Diadem, a startup developing the first blood-based test for the early prediction of Alzheimer's disease (AD), raised €10m in a round led by CDP Venture Capital and joined by existing investor Panakes Partners.
The Money, international edition 🌎
Excellis, an investment holding specialized in deep-tech, announced the investment of an undisclosed amount in Lausanne-based Zaphiro Technologies, a smart grid spinoff of the Swiss Federal Institute of Technology (EPFL).
MAG, an insurance broker, 🇮🇹acquired the majority of Neosurance, an insuretech startup.
Diego Piacentini, chairman of Exor Seeds since September last year, finally announced the new investment strategy of the firm: Exor Seeds will invest €150k from the group’s assets into two Italian startups a week, in return for between 5% and 8% of the company.
Rolling the numbers, with just €15m of investable capital, in a year the firm could build a portfolio of 100 startups; at €3m average post-money, if just one of them exits after reaching unicorn status, assuming a 50% dilution, it alone will return more than the entire allocation.
This strategy is similar to YC or Kima Ventures - plus the backing of the financial strength of Exor to double down on winners.
One probable scenario is that being selected by Exor Seeds will become some sort of signaling to other investors, quickly attracting capital for the seed/early-stage rounds, with crowding-out and valuation-inflation effects similar to YC.
Great move by Exor and Diego.🙌🏻
Standard VC termsheet
Italian Tech Alliance, the association of Italian investors and entrepreneurs, coordinated a working group to finalize a standard Series A term sheet for Italian startups. The PDF is available for download 🇮🇹here, with a dual-language glossary here.
Every week, I am posting a fundraising tracker based on the news I publish.
Recent job positions from XJobs
Yocabè is looking for a Developer
Vino.com is looking for a Senior Performance Marketing Specialist
Shopfully is looking for an Industry Sales Manager
Dog Heroes is looking for a Graphic Design Intern
IEM is looking for a Data Analyst
The XJobs platform is a free portal listing open job positions from the Italian startup ecosystem, managed by CDP Venture Capital. If you desire, you can apply for free and have your job positions posted on the platform by following this link.
Join the conversation between Giacomo Mollo and myself commenting on the latest news, every Monday at 7:00 pm CET (follow us on Twitter for a live reminder and the link: Nico / Jack). If you miss the live discussion, you can subscribe to our podcast on Spotify, Apple Podcast, and other podcast platforms.
Have a great week,