Z_One Fund Fund I | 2026 VC Fund

Z_One Fund

Status

ACTIVE

Global HQ

Rome, Italy

Countries of investment

Italy
Spain
France
Germany
United Kingdom
Netherlands
Switzerland

Investment stages

Pre-Seed
Seed

Industries

Artificial Intelligence
AI Applications
UrbanTech
Smart Cities
Mobility
PropTech
Connected Infrastructure
IoT
Enterprise Software
Digital Services

About
Z_One Fund is a Rome-based venture capital firm focused on backing Italian pre-seed and seed AI and urbantech founders. Their focus spans AI applications, urbantech, smart cities, mobility, and connected infrastructure across Italy, Spain, France, Germany, United Kingdom, Netherlands, and Switzerland. The firm supports Italian tech founders from pre-seed through seed stages.

Min check size: $250K
Max check size: $1M
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Investment Thesis

Z_One Fund is a pre-seed and seed stage venture capital firm deploying capital across AI applications, urbantech, smart cities, mobility, real estate technology, and connected infrastructure sectors. They invest in Italian pre-seed and seed AI and urbantech startups with initial checks ranging from €250K to €1M, integrated with Zest Group's acceleration and open innovation ecosystem. The firm differentiates itself as an early-stage AI and urbantech fund managed by Eureka! Venture SGR with Zest as sponsor and lead private investor, part of Italy's leading innovation platform with €130M-€200M expected AUM.

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Manager's Experience

Launched July 2026 by Zest Group and Eureka! Venture SGR. Managed by Luigi Capello (CEO of Z_One Fund, original LVenture Group founder). Marco Gay serves as CEO of Zest Group. Fund managed by Eureka! Venture SGR (Zest holds 20% stake) with Zest as sponsor and lead private investor via €5M commitment. Backed by 20+ years of Italian VC experience via Digital Magics and LVenture Group merger. Combined AUM expected to reach €130M-€200M.