Programma 103 (P101 SGR)

Italy
Series A
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About Programma 103 (P101 SGR)

Programma 103 (P101 SGR) is a venture capital firm based in Italy, focusing on Series A stage investments. The fund actively supports founders building innovative solutions in AI/ML, Climate & Sustainability, Digital Education Consumer, SaaS, providing strategic guidance and capital to help startups scale.

Investment Focus

Location / RegionItaly
Funding StageSeries A
Industry Focus
Ai Ml
Climate Sustainability
Digital Education Consumer
Saas

Investor Signals Profile

active

Sweet Spot

Italian tech founder ready to scale internationally

Italian VC
Early-stage
Late-stage growth
AI
Life Sciences

Bullish Signals

Active publisher, Italy VC ecosystem insightsexternal
Late-stage deals doubled in Italian portfolioexternal
Italy VC hit €1.4B, +17% YoYlinkedin
Life Sciences investment surged +99%linkedin
9 unicorns, 1 decacorn in Italian ecosystemlinkedin
P101 CEO quoted in Corriere della Seralinkedin
Published «State of Italian VC» report 2025linkedin
17K+ LinkedIn followers, high engagementlinkedin

Contrarian Signals

Italy ecosystem still early-stage heavyexternal
AI gap vs. France & Germany persistslinkedin
Exit infrastructure still underdevelopedlinkedin
No European public market for exits yetlinkedin
Talent strong, infrastructure must catch uplinkedin

Founder Do's

Build for European scale from day one
Leverage Italy's growing Life Sciences momentum
Align with institutional tech narrative
Show international capital & corporate traction
Plan exit via European public market angle

Founder Don'ts

Ignore international capital angle
Underestimate exit strategy complexity in Italy
Pitch AI without differentiation vs. FR/DE peers

Key GPs & Partners

AD
Andrea Di Camillo
CEO
ecosystem builderthought leadermedia-active

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Fund Overview

Fund Size€250M
Saves0

Key People

Andrea Di Camillo, Giuseppe Donvito

Andrea Di CamilloCEO

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