Primo Digital invests two million euros in Shop Circle, a leading e-commerce applications company, expanding its investment portfolio in line with ESG principles.

19 ott 2023 Press Release

Milan, Oct. 19th. - Primo Digital, a venture capital fund managed by Primo Ventures SGR Spa, announced its most recent €2 million investment in Shop Circle, a British company with two Italian founders. This investment is the sixth in less than two years and marks an important step toward the goal of reaching a portfolio of 20 companies in the cybersecurity, fintech, digital retail and B2B software verticals.

Shop Circle joins a portfolio that includes other highly innovative companies such as Servitly (B2B software), Italian Artisans (digital retail), Qomodo (fintech), Muscope (cybersecurity) and Data Masters (edutech). Primo Digital's focus is to invest in companies capable of revolutionizing their industries, with an international growth perspective.

Primo Ventures currently has about 200 million euros committed in multiple funds: Primo Digital, which is still being raised; Barcamper Ventures, also in the digital sector; and Primo Space, the first fund in the European Union dedicated to the new space economy. The three funds are managed by a team of 15 professionals with solid operational and entrepreneurial skills, who take a strongly hands-on approach to supporting companies on their growth path.

Over the years, the digital team has achieved significant results such as the exit of Iubenda acquired by Team Blue with a 180X return on investment, the listing of Vection Technologies and Yolo on the Australian and Euronext Growth Milan regulated markets, respectively, the development of well-established companies such as BrandOn, Cortilia, and Sardex, and high-tech, high-growth potential companies such as Cubbit and Wordlift.

Primo Ventures has always been committed not to invest in companies with significant environmental and social risks, formalizing its commitment in Primo Digital, which since May 2023 has become compliant with Ex. Art 8 of the SFDR, focusing particularly on UN Sustainable Development Goals 5 (Achieve gender equality and empower all women and girls), 8 (Incentivize sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all) and 9 (Build a resilient infrastructure and promote innovation and equitable, responsible and sustainable industrialization).

Primo Ventures also announced a strategic partnership with LifeGate to analyze trends and investments in the climate sector. The collaboration aims to examine the dynamics of this emerging sector to identify trends, opportunities and synergies that can contribute to the growth of the climate tech sector, accelerating the development of enabling technologies to achieve the goal of full sustainability.

Gianluca Dettori, president of Primo Ventures comments, "Becoming ex. Art 8 SFDR was a key step in increasing our impact on the ecosystem. All our future financial products will align with this choice. Our goal is to combine financial performance with the ability to create value for all stakeholders”.

The latest news from our network
Follow us on Linkedin.