Primo Space Fund

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Status

ACTIVE

Global HQ

Milan, Italy

Countries of investment

Italy
France
Germany
United Kingdom
United States
Israel
Spain

Investment stages

Pre-Seed
Seed
Series A

Industries

Space Tech
Satellite
Launch
Earth Observation
Aerospace
Defense
Geospatial

About
Primo Space Fund is the first Italian venture capital fund focused on space investments, managed by Primo Capital (formerly Primomiglio SGR) based in Milan; closed at €80 million target (approximately $87 million) with first close at €58 million; cornerstone investors include European Investment Fund (EIF), CDP Venture Capital, Compagnia di Sanpaolo, Luigi Rossi Luciani, and Banca Sella; portfolio includes U-Space, Caracol, and Eoliann; developed with support of the Italian Space Agency

Min check size: $1M
Max check size: $6M
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Investment Thesis

Primo Space Fund invests in early-stage space technology companies across launch, satellites, Earth observation, and downstream applications; targets European, US, and Israeli startups with focus on Italian space ecosystem; provides capital and strategic support to founders building disruptive technologies in the rapidly growing New Space Economy

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Manager's Experience

Gianluca Dettori (Chairman of Primomiglio/Primo Capital) is a serial entrepreneur and venture capital pioneer in Italy who founded Primo to invest in Italian innovation; he developed Primo Space Fund as the first Italian VC dedicated to space, in partnership with the Italian Space Agency. The team brings deep European space ecosystem expertise managing the €80M (approximately $87M) fund with cornerstone investors EIF and CDP Venture Capital.