The Techshop has announced the €43 million first close of Techshop II, its second venture capital fund, as the Italian investment firm expands its strategy around early-stage B2B software and artificial intelligence companies.
The firm is targeting €100 million for the fund by 2027, giving it additional capital to back technology founders across Italy and the broader European market.
Techshop II follows the firm’s first fund, which invested in 23 companies led by 60 founders, with a concentration on B2B software businesses.
The Techshop said its second fund will build on the same core investment philosophy while placing even greater emphasis on early-stage investing, artificial intelligence and technology talent across Italy and Europe.
The new vehicle comes as the firm sees a significant shift underway in enterprise software.
Historically, software has primarily been purchased by companies to make existing operations more efficient. The Techshop believes AI is increasingly moving beyond that role and becoming an operating layer capable of influencing how companies function across individual sectors.
That transition is creating what the firm views as two complementary investment opportunities.
The first is the development of a new generation of AI-native software businesses, where artificial intelligence is embedded in the core product and business model from the company’s inception rather than added later as an incremental feature.
The second is the opportunity for AI companies to help transform established businesses by redesigning processes, workflows and operating models across industries.
The Techshop expects Techshop II to pursue both categories as it looks for founders building differentiated technology products with the potential to scale across Europe and internationally.
The firm’s approach is centered on becoming the first institutional investor in promising startups and developing a close working relationship with founders during their earliest stages of growth.
Beyond providing capital, The Techshop positions itself as an active partner to management teams, supporting entrepreneurs with areas including recruiting, business strategy and business development.
That operating support is intended to help founders address some of the challenges that emerge as startups move from initial product development toward customer acquisition, team expansion and larger-scale commercialization.
Alongside the first close of Techshop II, the firm announced that Giovanni Strocchi has joined The Techshop as Partner.
Strocchi joins Gianluca D’Agostino and Aurelio Mezzotero, strengthening the firm’s investment leadership as it begins deploying its second fund.
The appointment adds additional resources to The Techshop as it seeks to identify and support a larger number of early-stage companies while expanding its presence across Europe’s technology ecosystem.
The Techshop also highlighted CDP Venture Capital SGR among the investors that have supported the firm’s investment strategy.
The Fund II first close represents an important milestone toward the €100 million target and gives the firm substantial capital to begin executing its next investment cycle before the final close.
The firm’s strategy remains focused on finding companies at an early stage when founders can benefit not only from financing but also from operational guidance and strategic support as they establish product-market fit and prepare for expansion.
Artificial intelligence is expected to play a particularly important role in that strategy.
The Techshop believes the current technology cycle provides an opportunity for new software companies to challenge established providers, while also allowing AI businesses to become increasingly important technology partners to companies across traditional industries.
That thesis broadens the potential opportunity beyond companies developing standalone AI applications to include businesses applying AI to industry-specific workflows and operational problems.
With the €43 million initial close of Techshop II, the firm is now positioned to increase its investment activity while continuing to build a portfolio centered on B2B software, AI and European technology founders.
The Techshop plans to continue fundraising toward its €100 million 2027 target while deploying capital into companies it believes can become significant software businesses in Italy and across Europe.
