Milan-based asset management firm Techshop SGR has completed the first closing of its second venture capital fund, Techshop II, with €43 million committed to back early-stage startups building business-to-business solutions powered by artificial intelligence.
The firm is targeting a total fund size of €100 million, with fundraising expected to continue through 2027.
CDP Venture Capital Anchors Techshop II
CDP Venture Capital emerged as the cornerstone investor in the new vehicle through its FoF VenturItaly II and Digital Transition Fund programs.
The backing provides an important foundation for Techshop II as the firm expands its focus on emerging companies developing AI-driven technologies for business applications.
Fund Targets Pre-Seed and Seed AI Startups
Techshop II will concentrate on pre-seed and seed-stage companies developing B2B solutions based on artificial intelligence.
Its investment strategy is built around the expectation that AI could dramatically expand the addressable market for B2B software-as-a-service, creating a broader range of specialized applications capable of automating tasks, decisions and operational processes.
The fund will look across sectors including consulting, healthcare, financial services, software development, customer communications, data management, enterprise applications, robotics and manufacturing.
Majority of Capital Reserved for European Businesses
At least 70% of Techshop II’s capital will be invested in private companies based in the European Union or European Economic Area that maintain a permanent establishment in Italy.
The structure is intended to enable the vehicle to qualify as a Venture Capital Fund under current Italian legislation, while maintaining a strong focus on companies operating within the European innovation ecosystem.
Techshop Builds on First Fund’s Portfolio
The new fund follows the firm’s first investment vehicle, Techshop I, which has built a portfolio of 23 companies.
Among its investments are Shop Circle, now known as Circeus, alongside Smartness, hlpy, Qomodo, Tot, AxyonAI, GenomeUp, SylloTips and Allsides.
The experience and portfolio developed through Techshop I provide the foundation for the firm’s next stage of investment activity in artificial intelligence and B2B technology.
Giovanni Strocchi Joins as Techshop Partner
Techshop is also strengthening its leadership team with the appointment of Giovanni Strocchi as a Partner.
Strocchi will work alongside Gianluca D’Agostino and Aurelio Mezzotero, bringing experience spanning innovation, artificial intelligence and digital business development.
His career has included roles and experience at McKinsey, Vodafone, ADmantx, Blacksheep and Eden, giving the firm additional expertise as it seeks to identify and support early-stage businesses emerging from the rapidly developing AI market.
A Bigger Bet on AI-Driven B2B Software
With €43 million already secured and a €100 million final target, Techshop II represents a significant expansion of Techshop’s venture strategy.
The fund is positioning itself around a rapidly developing segment of the technology market, focusing specifically on early-stage companies seeking to use AI to transform how businesses handle software, decisions and day-to-day operations.
