European venture capital firm 360 Capital just made a bold bet on the future of science-driven startups. The firm closed €85 million for Poli360 2, a technology transfer fund aimed at turning university research into real companies. With a final target of €100 million, this is one of the biggest deeptech bets in Italy right now.
What Is Poli360 2 and Why Does It Matter?
360 Capital, a venture capital firm with €700 million in assets under management, completed an €85 million fundraising round for Poli360 2, a fund dedicated to technology transfer with a focus on Italy.1 This is the first fundraising round, bringing the firm closer to its overall fundraising target of €100 million.1
The firm is targeting a €100 million final close by the end of 2026.2
Poli360 2 is designed to support early-stage startups emerging from leading European universities and research centers, with a strong focus on transforming cutting-edge research into globally competitive companies.3 In simple terms, this fund takes ideas born in labs and classrooms and helps them grow into real businesses that can compete globally.
This is not just another venture fund. Poli360 2 is classified as an Article 8 fund under the SFDR (Sustainable Finance Disclosure Regulation).1 That means environmental and social goals are baked into every investment decision from day one.
360 Capital Poli360 2 deeptech fund Italy university startups
Who Is Backing the Fund?
The investor list reads like a who’s who of European institutional capital.
Investors include the European Investment Fund (EIF), CDP Venture Capital, pension funds, Italian and international family offices, and numerous corporate investors, including Brembo, MBDA and Lucchini RS.1
Here is a quick look at the key backers:
| Investor Type | Notable Names |
|---|---|
| Institutional | European Investment Fund (EIF) |
| Public VC | CDP Venture Capital |
| Corporate | Brembo, MBDA, Lucchini RS |
| Private | Italian and international family offices, pension funds |
For these corporates, participation goes beyond financial returns. It provides early access to breakthrough technologies and emerging startups that could shape their industries. Partnering with an experienced investor like 360 Capital, which counts corporates for roughly 30% of its limited partners, offers a structured way to stay close to innovation while managing risk.4
Where Will the Money Go?
The ambition is to scale the approach further, targeting 20 to 25 investments. Around 80% of the capital will be deployed in Italy, reinforcing the country’s growing deeptech ecosystem, while up to 20% will support startups across the rest of Europe.4
The fund’s investment strategy is built around two core pillars: Industry Automation and Sustainability.3
Industry Automation covers:
- Robotics and Industry 4.0
- Semiconductors
- Cybersecurity and AI
- IoT and industrial machinery
- Civil and industrial infrastructure
Sustainability focuses on:
- New materials
- Energy transition
- Circular economy
Poli360, which was born in 2018 with the Politecnico di Milano, transforms research and patents into startups.5 Poli360 II is co-managed by 360 Capital and Politecnico di Milano University.6 This university partnership is what sets the fund apart from typical VC vehicles. It puts the fund right at the source of scientific breakthroughs.
Proven Track Record From Poli360 1
This is not a first attempt. It is a sequel built on success.
Poli360 2 is the successor fund to Poli360 1, which became operational between 2018 and 2020. Following the same proven and successful strategy as Poli360 1, which now has 20 startups in its portfolio including Energy Dome, Isaac, Phononic Vibes, PhotonPath, Inxpect and Equixly.1
One standout from that portfolio is Energy Dome. In 2025, they partnered with Google to develop long-term energy storage systems intended to let Google rely on renewable energy to power their data centers.7 The Italian startup announced an $11 million Series A raise from 360 Capital and Barclays in November 2021, and has raised more than $135 million in all.8
That is the kind of outcome Poli360 2 is built to repeat.
Beyond Poli360, 360 Capital itself has a strong exit history. Recent highlights include the €220 million acquisition of Preligens by Safran in 2024, and backing Exotec, now recognised as France’s first industrial unicorn.4
“We aim to help bridge the gap between scientific research and industry. We work side by side with universities, research centres and visionary founders to support startups developing cutting-edge technologies on their growth journey.” — Alessandro Zaccaria, Partner at 360 Capital
Italy’s Deeptech Scene Is Heating Up
360 Capital’s big bet comes at a time when Italy’s startup ecosystem is finally finding its stride.
In the first six months of 2025, Italian startups raised a total of €353.4 million across 99 funding rounds, a 38.88% increase compared to the same period in 2024.9 Italy’s technology sector is showing renewed momentum in 2025, according to new data from Vento Ventures. $768 million has been raised in the first half of the year, already surpassing the country’s full-year investment total from 2020.10
Italian startups have raised $203 million in clean tech in 2025, the second-best funding year on record, according to Dealroom data.11
But challenges remain. Alessandro Zaccaria acknowledges that “the real challenge is to secure an industrial future for these ventures,” noting that “while this is a challenge shared globally, it is particularly acute in Italy, where late-stage capital remains scarce.”11
Active since 1997 and managing around €700 million in assets, the firm has built a reputation around backing technically complex startups early.4 With offices in Milan and Paris and a team of 25 professionals, 360 Capital is well placed to keep pushing Italy’s deeptech story forward.
Italy has long been known for its design, manufacturing and engineering talent. Poli360 2 is a signal that the country’s next chapter could be written in research labs, with startups turning cutting-edge science into global businesses. If you have thoughts on Italy’s growing deeptech scene, drop a comment below and share your take with fellow readers.
