Italian venture capital fund Z_One Fund completes first round of fundraising exceeding €35 million, focusing on early-stage AI and urban tech projects

According to EU-Startups, the Italian venture capital fund Z_One Fund, managed by Eureka! Venture, has announced the completion of its first close, raising over €35 million toward a total target of €60 million. Investors include Fondo Acceleratori 2, a newly established fund under CDP Venture Capital (which made the fund's inaugural investment); Milan-listed company Zest; Lazio Innova (participating via a parallel fund); Fondazione Compagnia di San Paolo; and multiple private investors. The fund will primarily invest in pre-seed and seed-stage startups, with a key focus on AI applications, urban tech, and smart cities. Initial checks will be up to €250,000, with optional follow-on investments of up to €1 million.