Observed Signal · Sep 8, 2026 · Funding · Source: EU-Startups (European Venture) · Impact: 3/5 · Sentiment: Positive
Italian VC Techshop Launches Second Fund with €43M First Close
Milan-based venture capital firm Techshop announced the first closing of its second fund, Techshop II, at €43 million, dedicated to pre-Seed and Seed startups developing AI B2B solutions. The fund exceeded its initial fundraising target and aims to raise €100 million by 2027. CDP Venture Capital joined as a reference investor through its FoF VenturItaly II and Digital Transition Fund, backed by NextGenerationEU resources. Techshop II will invest at least 70% of its capital in EU/EEA companies with a permanent establishment in Italy. The firm's strategy focuses on early-stage B2B software, particularly AI-driven vertical SaaS solutions. Techshop's first fund portfolio includes 23 companies and shows a MOIC of 1.8 and TVPI of 1.5. The new fund aims to make Techshop a multi-fund platform with €150 million in total AUM.
Significant VC fund launch for AI B2B startups, indicating continued investment momentum in European early-stage AI, relevant to AdTech/MarTech ecosystem as AI B2B solutions often intersect with advertising technology.
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Key Takeaways & Evidence Grounding
- Techshop II first close at €43 million, exceeding initial target.
- Fund aims to raise €100 million by 2027.
- CDP Venture Capital invests via FoF VenturItaly II and Digital Transition Fund.
- Techshop I portfolio includes 23 companies with MOIC of 1.8 and TVPI of 1.5.
- Fund targets pre-Seed and Seed AI B2B startups, with at least 70% invested in EU/EEA companies with Italian establishment.
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1 Entity mapped“Elaia’s €120 million first close for its B2B-focused Digital Venture Fund V....”
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