Venture Capital Growth in Southern Italy

Between 2017 and July 2025, startups and scaleups in Southern Italy collectively raised 289.9 million euros in equity, distributed over 107 investment rounds. Campania ranks first in terms of investment amount with 142 million euros (38% of the Southern total), followed by Puglia (98 million, 26%) and Sicily (42 million, 11%). This is detailed in the South Innovation 2025 Report just presented in Messina during the South Innovation Summit, dedicated this year to the theme ‘AI for Future. Attractiveness and Competitiveness of Southern Italy.’ Campania is also confirmed as the leading region in the South for total venture capital investments. In the first nine months of 2025, 34 million euros were invested in 10 rounds, already surpassing the total values recorded in previous years. Thus, 2025 is on track to become the best year ever for the region, both in terms of the number of operations and capital raised, as highlighted by the Venture Capital Observatory in Italy conducted by Growth Capital, the leading tech investment bank in the Venture Capital ecosystem, in collaboration with Italian Tech Alliance, the Italian association of Venture Capital, innovation investors, and innovative startups and SMEs. According to the Report presented in Naples, the region accounts for almost half (49%) of total venture capital investments in Southern Italy, which remains below the levels of the North but has shown steady growth over the past seven years, both in terms of capital raised and the number of rounds closed. In the first nine months of 2025, startups based in Southern Italy raised 70 million euros in 34 rounds, marking the best performance ever for this area of the country. The South now accounts for about 12% of the total capital invested in Italy and 9% of the total number of rounds, confirming a growth trend in line with the overall maturation of the national venture capital ecosystem. These numbers align with the study presented in Messina, which analyzed a sample of 73 startups and 8 scaleups born or developed in Southern Italy, mainly active in the Healthcare, Enterprise Software, Engineering & Manufacturing, and Fintech & Insurance sectors, with an average annual revenue growth rate of 102% between 2020 and 2023. Overall, the examined entities generated over 700 direct jobs in 2023, contributing to the construction of a new knowledge economy in the South. Moreover, 2024 marked a record year for venture capital in Southern Italy, with 66 million euros raised by Southern startups, while the first half of 2025 confirms the positive trend with 57 million already invested. Among the most significant operations are HUI (Series A, 25 million, 2024), Sibill (Series A, 12 million, 2025), UnoBravo (Series A, 17 million, 2022), and HT Materials Science (Series A, 14 million, 2023). Additionally, according to the SICI (South Innovation Competitiveness Index), presented for the first time, which measures the competitiveness of the South in innovation and entrepreneurship, innovation capital, governance and competitiveness, inclusion-sustainability-resilience, Campania and Abruzzo are above the Italian average, with solid performance in terms of competitiveness and innovative capacity, with Puglia and Sicily above the average value of other southern regions.