Italian venture capital fund Z_One Fund completes first round of fundraising exceeding €35 million, focusing on early-stage AI and urban tech projects

on October 26, according to EU-Startups, that Z_One Fund, an Italian venture capital fund managed by Eureka! Venture, has completed its first close at over €35 million, with a total fundraising target of €60 million. Investors include Fondo Acceleratori 2, a newly established fund under CDP Venture Capital (which made the first investment), Milan-listed company Zest, Lazio Innova (participating via a parallel fund), Fondazione Compagnia di San Paolo, and multiple private investors.

The fund primarily targets pre-seed and seed-stage startups, focusing on AI applications and urban tech and smart cities. Initial investments will be up to €250,000, with optional follow-on investments of up to €1 million.