P101 invests €1M – €10M in early-stage innovative digital technology businesses

This interview was held by Burak Buyukdemir and the article is written by Jeremiah Uke, a contributor author at Startup Turkey.

Andrea Di Camillo has over 20 years of experience as a venture capital investor and entrepreneur. He has worked with Kiwi I and Cir Ventures, and has invested in more than 40 companies, as well as being a founder of Vitaminic and Banzai. In 2013, he launched P101, of which he is currently the Managing Partner.

P101 is a venture capital firm focused on early-stage investments in the digital sector.  P101 aims to provide new entrepreneurs with capital, expertise, and resources to sustain and accelerate the growth of its companies.

P101 was launched by Andrea Di Camillo, who has over 20 years of experience as a venture capital investor and is among the founders of Banzai (listed leading ecommerce platform for the Italian market) and Vitaminic (the first Italian platform for digital music distribution, founded in 1999, which merged with Buongiorno).

The investment company is named after the first personal computer that was sold on a large scale by the iconic Italian industry brand Olivetti. Programma 101 was designed and manufactured by Olivetti during the 1960s, and was an example of Italian innovation that has left a mark in the history of modern digital technology.

Andrea has been an entrepreneur and venture capitalist for over 20 years. He began my career at Olivetti in 1995 as marketing manager of ItaliaOnline, a pioneer in the Italian digital market. Later, He took part in the launch of the first venture capital fund, Kiwi, which made some of the most successful investments in the digital sector, such as Venere (the first Italian online travel platform), Yoox (luxury fashion e-commerce, the only Italian unicorn), and Tiscali. In 1999, Andrea co-founded Vitaminic and then in 2006, Banzai, which soon became the second web company in Italy. He has made angel investments in several startups, including Cortilia, Iubenda, Fubles and Viamente, the industry leading route planning software which was acquired by a US industrial group in 2012.

In 2013, Andrea launched P101, the venture capital firm investing in innovative and technology driven companies, which now manages 2 funds: Programma 101 and Programma 102. Programma 101 was launched in 2013, it has invested in 26 early-stage tech companies, including BorsadelCredito.it, Cortilia, lkman,Musixmatch and Tannico. Programma 101 has closed exit deals such as those of Musement and Octorate.

Programma 102 was launched in May 2018 with the aim of raising € 120 million and has already closed 3 investment rounds. P101 takes its name from the first personal computer being produced and sold on a large scale globally, which was designed and created in Italy by Olivetti and is an example of Italian innovation leaving its mark in the history of modern digital technology well beyond national borders

Besides economic support, P101 SGR provides new generations of entrepreneurs with the necessary network of knowledge and connections to support the growth of their companies. They provide their expertise, gained both as venture capital investors and as entrepreneurs. The team also shares the relationships built through the years within the Italian and international innovation ecosystem. They focus on enterprises that have an efficient business model, which allows them to quickly scale and become a leader in their market segment, capitalizing on the innovation of technology, products, and process.

P101 does not invest in ideas or projects that haven’t been backed up by a team, product or prototype and a market testing. They look for a business plan and talk about metrics and KPIs in first meetings with startup teams, defining from the outset the goals and the growth strategies in the short and medium term.

P101 focuses on early stage investments. They provide financial resources, and closely follow the development of the companies which they support. Investments are usually between €1 million and €10 million. The Programma 101 Fund has invested around 70million euros and Programma 102 Fund has the aim of raising 120 million euros. Intending startups can get introduced by contacting the team and trying to keep them updated even if they are not interested at first contact.

Andrea advises startups looking for funding to not expect to go through the fund raising just after one meeting. It takes time: you don’t get married after the first date.

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