Italian Founders Fund (IFF) is a venture capital fund managed by Milan-based Koinos Capital SGR, created to support the growth of digital startups founded by Italian entrepreneurs. Launched in 2024, the fund invests at the pre-seed and seed stages, aiming to strengthen Italy's position in the global startup ecosystem and accelerate the country's digital transformation. In July 2026, IFF reached a final close of over $114M.
IFF backs early-stage digital startups founded by Italians, whether operating in Italy or abroad, as well as international startups establishing a presence in Italy.
As of July 2026, its portfolio spans 32 startups, including 10 companies founded abroad by Italian entrepreneurs and 4 international companies that entered the Italian market with IFF's support.
The fund targets businesses with scalable models and strong potential for follow-on growth.
In June 2024, Italian Founders Fund launched with an inaugural $54 million raised from over 100 Italian entrepreneurs and founders.
In August 2025, the fund added $41 million in "IFF Expansion" capital from the Digital Transition Fund of CDP Venture Capital SGR (using PNRR resources), bringing the total to roughly $104 million.
In July 2026, IFF announced a final close of over $114 million, exceeding its initial $68 million target. LPs include CDP Venture Capital's Digital Transition Fund, European funds-of-funds, and more than 100 individual Italian entrepreneur-LPs.
The Digital Transition Fund is led by Enrico Filì and draws on resources from Italy's National Recovery and Resilience Plan (PNRR). The fund is managed by Koinos Capital SGR, an independent multi-strategy investment firm based in Milan, as part of its venture capital vertical.
Leadership
Italian Founders Fund is led by Partners Lorenzo Franzi and Irene Mingozzi, alongside Francesco Fumagalli, Funding Partner at Koinos Capital SGR.
The team also includes Ascanio Orombelli, an early team member who joined before the fund's first close, and Alessandra Santi, Investment Analyst and member of the founding team.
Investment Strategy
IFF's strategy focuses on identifying high-potential Italian-founded startups early, providing capital, strategic guidance, and follow-on support through its IFF Expansion capital pocket.
The fund co-invests alongside leading global venture funds including Y Combinator, Balderton Capital, Base10 Partners, Emergence Capital, PayPal Ventures, Earlybird, Eurazeo, Partech, Sequoia India, Norrsken, Exor, Picus Capital, B Capital, Speedinvest, and Golden Gate Ventures. Around 24 of the fund's 32 portfolio companies have foreign investors on board.
Notable Investments
Phone: +39 02 81289095
Lorenzo Franzi - Partner
lfranzi@italianfoundersfund.com
Irene Mingozzi - Partner
Francesco Fumagalli - Partner
ffumagalli@koinoscapital.com
Virginia Bassano - Principal
vbassano@italianfoundersfund.com
Ascanio Orombelli - Senior Investment Manager
aorombelli@italianfoundersfund.com
Italy
