TIM Ventures and United Ventures invest in innovation

TIM Ventures and United Ventures invest in innovation
TIM Ventures, dedicated to Corporate Venture Capital, has entered into an agreement with United Ventures to launch the fund recognized as UV T-Growth. The fund will support investments (in mature innovative companies, small and medium-sized enterprises) in order to allow them to develop technological projects in Italy and abroad.

TIM - which recently awarded the winners of Smart Spaces Hackathon - therefore continues to invest in innovation, with a particular focus on 5G. The investments will concern innovative "late stage" companies mainly in Italy and in the rest of Europe. The technological areas of reference will be: loud, internet of things, edge computing, artificial intelligence, virtual reality, augmented reality, cyber security applications and mobile payment systems.

Giovanni Ronca, TIM Chief Financial Officer , said:

TIM strongly relaunches its presence in the venture capital market alongside a standing partner like United Ventures. With the launch of UV T-Growth, we are committed to promoting the growth of 5G in Italy, which will be the enabling technology of citizens and businesses in the coming years. And not only that: we focus on a wide range of investment verticals related to digital. We believe that venture capital is the right tool to accelerate innovation. We are convinced that with this initiative we will stimulate further competitiveness, boosting new investments and confirming our support for the development of digital technology in the country.

TIM Ventures - which will make strategic resources and assets available to the fund - will sign immediately after the establishment of the fund, 60 million euros of UV T-Growth (the collection target is 150 million euros). The fund - managed independently of United Ventures - will also be open to other investors.

The launch of UV TGrowth is an important milestone for United Ventures and the entire ecosystem of the Italian innovation that this new fund becomes louder and more and more integrated in its components. With the UV T-Growth we aim to identify projects with high growth potential and strong technological content. We are pleased to be able to do at the side of TIM, a player who has made the history of technology in our Country, and that today is a good example of a big corporation that caters to Venture Capital as an instrument of innovation.

This is the comment of Massimiliano Magrini and Paolo Gesess , founders and managing partners of United Ventures.

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