Exor announces the launch of an Italy-focused seed initiative to support the country’s most promising entrepreneurs building the next generation of great companies. Exor Seeds, early stage venture arm of Exor, will invest in pre-seed and seed stage startups offering a €150,000 investment with an efficient diligence process, founder-friendly terms, and no board seat.
Exor is the leading diversified holding company controlled by the Agnelli family. For over a century, Exor has built great companies and made successful investments worldwide with a culture that combines entrepreneurial spirit and financial discipline. With a Net Asset Value of over €30 billion, its portfolio is principally made up of companies in which Exor is the largest shareholder: Ferrari, PartnerRe, Stellantis, CNH Industrial, Iveco Group, Juventus FC, The Economist, GEDI Gruppo Editoriale and SHANG XIA. Exor Seeds has invested in more than 60 companies globally to date.
This new initiative is rooted in Exor's long, entrepreneurial history of innovation. Consistent with its purpose of building great companies, Exor will support young founders developing new and disruptive businesses. The program aims to unlock the vast potential of Italy’s growing technology ecosystem, enabling the country to play a role commensurate with the size of its economy and tap into its deep talent pool.
A note from Exor states: "Several Italian tech execs with Silicon Valley experience have returned to launch new startups and support younger founders. University programs are attracting more overseas talent. Several new pre-seed incubators to guide entrepreneurs have launched, including the venture building program Vento owned by Exor. Events like Italian Tech Week are bringing in Italy founders and investors from across the globe and inspiring young entrepreneurs to dream bigger“.
Diego Piacentini, Chairman of Exor Seedssaid: "Does speed matter in business? It depends, but it definitely matters when it comes to funding early-stage entrepreneurial initiatives. And speed needs to be coupled with the acceptance of the risk of failure because it’s this mix of courage and energy that will produce the next Italian unicorns. This is something the Italian entrepreneurial system has been lacking and Exor Seeds aims to change that“.
Noam Ohana, Managing Director of Exor Seeds, commented: "Italy’s start-up ecosystem is where leading European countries were 5-7 years ago, and we see this moment as a turning point. Attitudes and ambitions are changing. The quality of founders we’re backing is impressive. We invite any Italian founder building toward a big vision to get in touch with us.“.
(Source: Exor Seeds' Press Release)