October 16, 2026
The State of VC in Italy 2026
Italy’s climb in breakout capital, its founder diaspora, Bending Spoons’ Europe-leading exit and its per-capita gap with peers. The State of Italian Tech in 2026, published with Wave by Vento.
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Selected charts
Companion charts derived from this report — open any chart in full-screen on the right side.
Italy's VC-backed companies are worth a combined $96B
Enterprise value of Italian VC-backed companies by year, split into private, acquired and listed. Listed companies are now more than half of it.
Italy rose from #15 to #8 in Europe for breakout capital
Italy's rank among European countries for $15–100M rounds, against its rank for smaller and larger rounds, 2021 to 2026.
Italian founders built 31 of their 45 unicorns abroad
The 45 unicorns started by founders who grew up in Italy: 14 built in Italy, 15 in the US and 16 elsewhere.