The big picture: Milan-based VC firm Techshop has announced the first closing of Techshop II at €43 million. This second fund is dedicated to pre-Seed and Seed startups developing AI B2B solutions. The firm exceeded its initial fundraising target for this first close and is now aiming to raise €100 million by 2027.
What it will back:
- Stage Focus: The fund will primarily invest in pre-Seed and Seed stage startups.
- Sector Focus: Techshop II targets AI B2B solutions, with a thesis that AI will significantly expand the B2B SaaS market through innovations in areas like consulting, healthcare, finance, software development, and manufacturing processes.
- Geographic Focus: The fund will invest at least 70% of its capital in private companies resident in the European Union or European Economic Area with a permanent establishment in Italy.
Who is behind it:
Techshop’s three Partners, Giovanni Strocchi, Gianluca D’Agostino, and Aurelio Mezzotero, lead the fund. CDP Venture Capital has joined as a reference investor, backing the new fund through FoF VenturItaly II and the Digital Transition Fund, which leverages NextGenerationEU resources. Techshop, founded in 2021, is an asset management company specializing in early-stage VC funds for B2B tech. Its first fund, Techshop I, invested in 23 B2B software and SaaS startups, reporting a MOIC of 1.8 and a TVPI of 1.5.
The catch: Techshop II’s first close comes amid a competitive European landscape, with a broader wave of venture funds raising capital for early-stage AI, B2B software, and enterprise technology. The fund’s target of €100 million by 2027, despite exceeding its initial first-close goal, indicates a sustained fundraising effort in a crowded market.
Key Facts
- Firm: Techshop
- Fund: Techshop II (Fund II)
- Raised so far: €43M
- Status: First close
- Stage: pre-Seed to Seed
- Focus: AI B2B solutions
- Geography: Europe
- Anchor LP: CDP Venture Capital
- Partners: Giovanni Strocchi, Gianluca D'Agostino, Aurelio Mezzotero
- Announced: 2026-09-01
