P101 SGR, the Italian venture capital firm investing in digital and technology companies in Europe, continues to expand its presence in the startup ecosystem in Spain, adding more and more success stories to its portfolio. Focused on early-stage investments in the digital sector, P101 supports new entrepreneurs at European level who want to strengthen their businesses and provides them with their experience and knowledge to further develop their businesses. Today, among the Spanish companies financed by P101, prominent companies in their sector such as Colvin, Bipi or Deporvillage.
“The Spanish market is growing at an incredible rate, both in terms of talent and opportunities, and sharing cultural values with Italy intensifies opportunities in terms of understanding and synergies. We are very aware of our involvement in this market, we are aware of all its potential and for this reason our goal and business focus is to become a partner of companies and not just simple investors”, says Andrea Di Camillo, Founder and Managing Director Shareholder of P101.
Italy, the key to Europe for Spanish startups
Founded in 2013 by Andrea Di Camillo, P101’s mission is to support the new generation of entrepreneurs committed to growth and consolidation. The focus is on companies that have already proven their business model, that can scale quickly and establish themselves as market leaders in their market segment by benefiting from technological innovations in products and processes.
In addition to the cultural and geographic proximity they offer Spanish companies, P101 has for years built a network that includes business people, professionals and investors with the aim of sharing their passions, knowledge and resources at a European level. They work closely with private and university accelerators to identify the best investment opportunities and provide companies with a wide range of services and knowledge to manage their activities.
Its name comes from Program 101 or P101, the first personal computer to be manufactured and sold on a large scale worldwide. Designed and manufactured in Italy by Olivetti and engineer Perotto, it was an example of Italian innovation that has left its mark in the history of modern digital technology far beyond the country’s borders.
Investment decisions and success stories
One of the most successful investments in the Spanish market is P101 Colvin, which just closed a $45 million Series C funding round. Founded in 2017, the technological platform for the floriculture sector has raised around 70 million euros in funding over these four years. Since the end of 2018 and until today, P101 has participated in the various rounds carried out and remains the current partner of the company.
another is beep, which was taken over by RCI Bank and Services, the bank of the Renault group. Since its foundation in 2017, the leading start-up of the car subscription model in Europe has raised 25 million euros in several financing rounds over the past three years. This sale comes in a year that has started very well for the company. At the end of February, P101 participated in a new round of Series B worth 16.5 million euros, 6 of which were contributed by the Italian fund.
Finally, drive out It was also recently acquired by British multinational JD Sports through Iberian Sports Retail Group (ISRG). Founded in 2010, the online sporting goods company received the funding and growth it needed after winning the Seed Rocket competition. The development of Deporvillage has not gone unnoticed by large investors. After a year of negotiations, the Italian venture capital company took part in a new financing round of 7 million euros in 2015 and has had all the successes since then. In 2016, Deporvillage’s turnover rose to over 20 million euros, making it a benchmark company in its sector with great prospects for the future.
P101 is one of the leading venture capital firms in Italy investing in digital and technology companies in Europe. Founded in 2013 by Andrea Di Camillo, it is backed by Azimut, Fondo Italiano di Investimento, European Investment Fund, Fondo Pensione BCC, Cassa Forense and some of Italy’s leading entrepreneurial families. P101 SGR currently manages two funds, in addition to the first retail venture capital investment fund developed in partnership with Azimut Group. With over €200 million in assets under management, P101 has invested in more than 40 technology companies including BorsadelCredito.it, Cortilia, Milkman, MusixMatch and Tannico.