Venture capital firm P101 has announced that it has acquired Prana Ventures, an operational venture capital firm specialising in seed investments, marking the first consolidation in the Italian venture capital sector.
The deal has resulted in a distinctive and integrated venture capital model: the new hub, which has already raised over 600 million euros, will, for the first time, be able to support technology start-ups from the early stages of development right through to scale-up rounds, providing capital, operational expertise, an international network and the capacity for follow-on investment.
This integration comes at a time of profound transformation in the European venture capital market, characterised by greater concentration of capital, increasing selectivity on the part of institutional investors, and the need for management companies to combine scale, specialisation and the ability to provide operational support to founders.
With the transaction announced today, P101 is expanding its investment platform to directly cover the seed stage as well. It is also strengthening the team led by managing partner Andrea Di Camillo, which will be bolstered by the highly specialised expertise of the Prana Ventures team. The seed strategy, in particular, will be led by Lisa Di Sevo, founder of Prana Ventures, and Guido Giordano, partner, building on the work begun in 2021 and maintaining the same distinctive approach to seed investing, based on close collaboration with founders, operational expertise and support in the areas of technology, finance and go-to-market.
Following the transaction, fundraising began for the Prana101 seed fund – the first fund launched by the new hub – with a target of 100 million euros and the first closing expected by the end of the year.
The fund will focus on pre-seed and seed investments, supporting Italian and European tech start-ups, with an investment strategy centred on the major changes brought about by technology and artificial intelligence in business models, digital infrastructure and services for individuals and businesses.
With Prana101, the capital raised through nine vehicles managed by the group – which currently has more than 80 active companies in its portfolio – could rise to as much as 700 million. In 2025, these companies generated approximately two billion euros in aggregate revenue and employed a total of more than 5,500 people.
Di Camillo said in a statement: “Joining Prana Ventures marks an important step in P101’s growth strategy: we are strengthening our presence in seed capital and laying the foundations for the development of a new venture capital model in Italy, capable of combining scale, expertise and networks to support start-ups throughout their entire development cycle, from the earliest stages right through to international scale-up. The market needs more robust, specialised operators capable of competing on a European scale, and together with the Prana Ventures team we will work to build an increasingly comprehensive, institutional and competitive asset management company, with the ambition of exceeding €1 billion in assets under management over time.”
Di Sevo (pictured in the opening photo) adds: “Prana101 was founded at a time of disruption, both in terms of technology and within the seed segment. Artificial intelligence has redefined the costs and methods of business development, reducing the capital requirements of new start-ups by 70 per cent and increasing their speed of execution by up to eight times compared to just a couple of years ago. In this new context, rapid decision-making and operational efficiency are just as crucial as capital. Thanks to the partnership with P101, Prana Ventures is evolving whilst maintaining its core approach – characterised by specialisation in seed funding, operational support and close collaboration with founders – and enhancing it with more capital, greater capacity for follow-on investment and a broader institutional and international network. We will harness these synergies to support the development of the next generation of European technology companies, capitalising on the new era of AI.”
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