# Investors based in Milan (2026 list) > 394 investors based in Milan, 6% active in the last 12 months. Led by Space Capital, P101 Ventures, Club Italia Investimenti. Ranked by what they funded. Source: https://millionrounds.com/lists/investors-based-in-milan (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Investors based in Milan Updated 7 November 2026 Firms with an address in Milan. A head office is a fact about the firm; where it invests is on its own page. [See all 394 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-milan)The top 25 **394** investors on the list No change this week **65** cheques in 12 months *+5%* against the market **$7.2M** median round they joined *-10%* against the market median **6%** wrote a cheque in 12 months **2%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (13) - 1 [Space Capital](https://millionrounds.com/fund/space-capital-2) *Deploying now* Private equity · Italy **79** **$12M** median round **Oct 2026** last seen - 2 [P101 Ventures](https://millionrounds.com/fund/p101) *Deploying now* VC firm · Italy **69** **$7.2M** median round **Oct 2026** last seen - 3 [Club Italia Investimenti](https://millionrounds.com/fund/club-italia-investimenti) quiet VC firm · Italy **68** **$83K** median round **Sept 2015** last seen - 4 [Primo Capital](https://millionrounds.com/fund/primo-capital) *Deploying now* VC firm · Italy **54** **$2.9M** median round **Oct 2026** last seen - 5 [United Ventures](https://millionrounds.com/fund/united-ventures) quiet VC firm · Italy **38** **$7.5M** median round **Oct 2025** last seen - 6 [Growth Engine](https://millionrounds.com/fund/growth-engine) *Deploying now* VC firm · Italy **35** **$2.2M** median round **Oct 2026** last seen - 7 [Principia SGR](https://millionrounds.com/fund/principia-sgr) dormant VC firm · Italy **28** **$39M** median round **Jan 2017** last seen - 8 [Innogest Capital](https://millionrounds.com/fund/innogest-capital) quiet VC firm · Italy **24** **$14M** median round **Dec 2019** last seen - 9 [Fondo Italiano d'Investimento](https://millionrounds.com/fund/fondo-italiano-d-investimento) quiet Private equity · Italy **20** **$15M** median round **Jan 2013** last seen - 10 [Indaco Venture Partners](https://millionrounds.com/fund/indaco-venture-partners) *Deploying now* VC firm · Italy **14** **$25M** median round **Oct 2026** last seen - 11 [Eden Ventures](https://millionrounds.com/fund/eden-ventures-2) *Deploying now* VC firm · Italy **13** **$9.6M** median round **Sept 2026** last seen - 12 [boox.it](https://millionrounds.com/fund/boox-it) quiet VC firm · Italy **13** **$200K** median round **Sept 2014** last seen - 13 [TIM Ventures](https://millionrounds.com/fund/tim-ventures) quiet Corporate VC · Italy **9** **$167K** median round **Sept 2015** last seen - 14 [Contour](https://millionrounds.com/fund/contour) *Deploying now* VC firm · Colombia **8** **$8.6M** median round **Jun 2026** last seen - 15 [SEAGATE](https://millionrounds.com/fund/seagate) dormant Growth equity · Italy **7** **$28M** median round **Oct 2015** last seen - 16 [Panakes Partners](https://millionrounds.com/fund/panakes-partners) *Deploying now* VC firm · Italy **6** **$51M** median round **Oct 2026** last seen - 17 [DeA Capital](https://millionrounds.com/fund/dea-capital-s-p-a) quiet Asset manager · Italy **5** **$7M** median round **Dec 2009** last seen - 18 [H14](https://millionrounds.com/fund/h14) *Deploying now* Family office · Italy **5** **$58M** median round **Jul 2026** last seen - 19 [Italian Founders Fund](https://millionrounds.com/fund/italian-founders-fund) *Deploying now* VC firm · Italy **5** **$18M** median round **Oct 2026** last seen - 20 [RedSeed Ventures](https://millionrounds.com/fund/redseed-ventures) *Deploying now* VC firm · Italy **5** **$31M** median round **May 2026** last seen - 21 [Ad4Ventures](https://millionrounds.com/fund/ad4ventures) quiet Corporate VC · Italy **4** **$3.8M** median round **Nov 2015** last seen - 22 [Embed Capital](https://millionrounds.com/fund/embed-capital) quiet Advisor · Italy **3** **$454K** median round **Oct 2015** last seen - 23 [Maia Ventures](https://millionrounds.com/fund/maia-ventures) *Deploying now* VC firm · Italy **3** **$7.2M** median round **Oct 2026** last seen - 24 [Redseed](https://millionrounds.com/fund/redseed) *Deploying now* VC firm · Italy **3** **$12M** median round **Jul 2026** last seen - 25 [Vela Imprese](https://millionrounds.com/fund/vela-imprese) quiet Private equity · Italy **3** **$531K** median round **Nov 2015** last seen **369 more on this list** All 394 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-milan) ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[Circularity Fuels](https://millionrounds.com/company/circularity-fuels)** Seed · $7M *With* [Sum Ventures](https://millionrounds.com/fund/sum-ventures-2) - **30** Oct **[Complaion](https://millionrounds.com/company/complaion)** Other *With* [Italian Founders Fund](https://millionrounds.com/fund/italian-founders-fund) - **27** Oct **[Agora Labs](https://millionrounds.com/company/agora-labs)** Other *Led by* [P101 Ventures](https://millionrounds.com/fund/p101) - **21** Oct **[Rulen](https://millionrounds.com/company/rulen)** Seed · $2M *With* [Growth Engine](https://millionrounds.com/fund/growth-engine) - **20** Oct **[Vectorial AI Inc.](https://millionrounds.com/company/vectorial-ai-inc)** Seed · $3M *With* [Sum Ventures](https://millionrounds.com/fund/sum-ventures-2) - **19** Oct **[Nouscom](https://millionrounds.com/company/nouscom)** Series D+ · $135M *With* [Panakes Partners](https://millionrounds.com/fund/panakes-partners) ## Stages This Year 60 rounds - Seed **32%** - Venture **15%** - Series A **13%** - Pre-seed **12%** - Series B **12%** - Other **17%** ## What They Backed Sectors, last 12 months - AI **23** - Biotech **6** - Healthcare **5** - Cybersecurity **5** - Big Data & Analytics **4** - Aerospace & Space **4** ## Cheques by Quarter Led Joined 16 Q1 25 16 Q2 25 16 Q3 25 18 Q4 25 19 Q1 26 20 Q2 26 10 Q3 26 12 Q4 26 The last bar is the quarter still running. ## Lists Like This - [Investors based in London 4,496](https://millionrounds.com/lists/investors-based-in-london) - [Investors based in CA 3,746](https://millionrounds.com/lists/investors-based-in-ca) - [Investors based in NY 3,658](https://millionrounds.com/lists/investors-based-in-ny) - [Investors based in WA 2,473](https://millionrounds.com/lists/investors-based-in-wa) - [Investors based in San Francisco 2,377](https://millionrounds.com/lists/investors-based-in-san-francisco) - [Investors based in TX 2,250](https://millionrounds.com/lists/investors-based-in-tx) - [Investors based in Dubai 1,922](https://millionrounds.com/lists/investors-based-in-dubai) - [Investors based in Los Angeles 1,261](https://millionrounds.com/lists/investors-based-in-los-angeles) - [Investors based in Chicago 1,255](https://millionrounds.com/lists/investors-based-in-chicago) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about investors based in Milan ### Who are the most active investors based in Milan? By cheques observed, the most active are Space Capital, P101 Ventures, Club Italia Investimenti, Primo Capital and United Ventures. ### How many investors based in Milan are there? 394 are on record. 6% made an investment in the last 12 months and 2% have led a round. ### Which stages do investors based in Milan back? Of the rounds with a named stage in the last 12 months, mostly Seed (40%) and Series A (17%). ### How big are the rounds investors based in Milan join? The typical (median) round among the leading investors here is $8.6M. ### Which sectors do investors based in Milan back most? In the last 12 months, mostly AI, Biotech and Healthcare. ### Which investors based in Milan lead the most rounds? Space Capital (1 led), P101 Ventures (1 led) and United Ventures (1 led). ### What have investors based in Milan invested in recently? Recent rounds include Circularity Fuels (Seed, Nov 2026, with Sum Ventures), Complaion (Other, Oct 2026, with Italian Founders Fund) and Agora Labs (Other, Oct 2026, with P101 Ventures). ### How is this list of investors based in Milan ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)