Nevermind VC Launches With €23.6M First Close to Invest in Dual-Use Deeptech Startups

Nevermind (NVM) is a venture capital fund focused on deeptech and dual-use frontier technologies across Italy and Europe, has officially launched. NVM Ventures has announced a €23.6 million first close for its NVM Venture Lazio compartment, with a final fundraising target of €35 million.

The compartment plans to build a portfolio of 10–15 Pre-Seed and Seed-stage companies developing STEP Technologies with dual-use applications. NVM will primarily act as a lead investor, backing startups with international growth ambitions while also supporting the development of Lazio’s innovation ecosystem.

One of the key investors is Lazio Innova, which has committed €18.83 million through Lazio Venture 2. The fund-of-funds initiative, co-financed by the European Regional Development Fund (ERDF) Regional Programme 2021–2027, selected the new NVM compartment as part of its investment strategy.

NVM Ventures operates through a multi-compartment structure, allowing different investment strategies to be supported by teams with specialised expertise. At the same time, emerging fund managers benefit from a common institutional framework covering areas such as governance, risk management and compliance.

Andrea Bonabello and Niccolò Bienati, founding partners and board members of the General Partner, established the fund and oversee its strategic direction. They are joined by Giorgio Gulienetti and Alessandro Casiraghi, who serve as fund managers at the delegated manager and are key persons for the NVM Venture Lazio compartment.

The team combines experience across Italian and international venture capital, corporate finance, technology company growth and professionalisation, as well as technologies linked to strategically important sectors including aerospace and defence.

NVM Venture Lazio focuses on deeptech startups developing technologies with both civilian and defence applications. Its investment areas include aerospace, maritime technologies, robotics and autonomous systems, cybersecurity, defence-focused AI, energy infrastructure, advanced materials, advanced manufacturing and biotechnology.

Lazio stands out as the only Italian region with the full aerospace value chain, covering research, manufacturing and services. Data from the Lazio Region shows that more than 300 companies employing around 23,000 people are active in advanced technologies across the region. Together, these businesses generate more than €5 billion in annual revenue, including approximately €1.6 billion from exports.

Giorgio Gulienetti, Fund Manager of the NVM Venture Lazio compartment, noted that many of the technologies expected to play a major role in European security over the coming decade are already being developed beyond traditional industrial sectors. These innovations are emerging from university laboratories, spin-offs and smaller engineering-focused companies.

"Our job is to spot them early, understand their true ambition and guide them towards customers with long procurement cycles and very demanding requirements.

That takes technical expertise and deep knowledge of the supply chains, not just capital. Lazio is the right place to do it, because here research, industry and institutions are only a few kilometres apart.”

According to Andrea Ciampalini, Director General of Lazio Innova:

“With NVM Venture Lazio, we are further expanding the specialist expertise in dual-use frontier technologies within the regional venture capital platform.

Investing in a first-time fund also reflects our commitment to backing emerging managers with distinctive skills, helping build new professional and investment capabilities for the benefit of the entire ecosystem.”