BlackSheep Ventures, an investment firm based in Milan, Italy, has launched a fund specializing in MadTech (marketing and advertising technologies).
BlackSheep Fund completed the first close at nearly 40 million euros and will now approach the target of 70 million euros with a hard cap of 100 million euros.
LPs include CDP Venture Capital SGR, which participated through its own fund of funds FoF VenturItaly, and the fund co-invested by the Italian Ministry of Economic Development (MiSE), managed by CDP Venture Capital SGR, as well as leading companies in marketing in Italy and Europe.
The fund will invest in high potential SaaS (Software as a Service) companies operating in the fields of identity resolution, Big Data, process automation and artificial intelligence applied to marketing. It will invest primarily in companies at the Series A and B stage which now need the resources to drive their growth and reach full international scale. For a qualified minority stake, the fund provides portfolio companies with financial resources to develop a shared growth plan, as well as skills, management experience and business relationships to help them continue to grow.
BlackSheep is managed by EUREKA! Venture SGR, with the co-option of Sandro Moretti to the board of directors of the asset management company. An investment committee has also been created with all members including Moretti, Umberto Bootsini, Marco Caradonna and Giovanni Strocchi.