Investor Profile: Primo Capital — Thesis, Cheque Size & How to Apply

Primo Capital is a Milan-based venture capital and private equity platform focused on technology-driven sectors, managing funds across digital, healthcare, climate tech and the space economy. Formerly known under the Primo Ventures brand, it has grown into one of Italy's most active technology investors, backing Italian and Southern European founders from seed through Series B.

The thesis is thematic and multi-fund. Rather than a single generalist pool, Primo Capital runs specialist strategies: Primo Digital for software and digital companies, Primo Space for the space economy and dual-use technologies, Primo Climate for climate tech, and healthcare-focused strategies alongside them. Across its funds it manages more than €200 million in assets, according to fund data, with institutional investors, family offices and strategic corporate limited partners across Europe.

On individual funds, Primo Climate reached a first closing of more than €40 million in July 2024, backed by CDP Venture Capital on behalf of the VenturItaly Fund of Funds and the Green Transition Fund, with a target size of €60 million. Primo Space 2, its second space fund, is targeting €120 million and had already secured commitments exceeding €70 million ahead of its anticipated first closing, with support including the European Investment Fund. For cheque size, the firm typically invests between €500,000 and €10 million in Italian and Southern European tech founders.

Notable portfolio companies include Casavo, the property-technology platform; Musixmatch, the music-data company; Tannico, the wine e-commerce platform; Cortilia, the online grocery service; Fatmap, the outdoor-mapping platform; Habyt, the co-living company; Milkman, the delivery platform; and Musement, the travel-activities marketplace. More recent investments include quantum-cybersecurity company Quantum Bridge, AI company Bricks AI, robotics company Mirai Robotics and e-bike technology company Blubrake.

The firm's leadership includes chairman Gianluca Dettori and managing partners Massimiliano D'Amico and Nicolo Petrone, with partners Alessandro Lerro and Emil Abirascid. Primo Space 2 is managed by general partners Matteo Cascinari, Ilaria Cavalleri and Giorgio Minola, with strategic guidance from Professor Roberto Battiston, the former president of the Italian Space Agency. The firm's first space fund supported 19 companies, which collectively generated more than €115 million in revenue, mostly from international markets.

Primo Capital does not run a founder accelerator programme, and no startup credits or perks package is publicly advertised. Its edge for founders is institutional: ties to leading Italian institutions, a multi-fund platform that can follow a company from seed into growth, and specialist teams for space and climate that understand regulated, science-heavy sectors.

How to apply for funding

Founders can contact Primo Capital through its official website, primo.capital, or by email at [email protected]. Climate-tech founders can also use the dedicated [email protected] address published by the firm. Because the firm is organised by specialist fund, a pitch should name the relevant strategy — digital, space, climate or healthcare — and show why the company fits that fund's mandate, alongside evidence of product-market validation for seed-stage digital bets or technical depth for space and climate bets.