What began in 2020 as a family holding testing an investment thesis has evolved into a structured venture building model. The portfolio below documents the path: the companies we have backed, the exits achieved, and the pipeline we are evaluating today.
We didn't start as a traditional fund. We started by putting our own capital at risk, building ventures alongside founders, and refining our methodology through real-world execution.
Family Holding (2019-2022)
Deployment of proprietary capital to test the hybrid venture building thesis. Direct investment alongside early-stage founders. Initial development of the nine-pillar assessment framework through hands-on experience.
Model Validation (2022-2025)
First exit (Mnemonica). Operational playbooks refined across business model design, go-to-market execution, and fundraising support. Confirmation that minority equity combined with operational co-building can generate disciplined returns.
NEXT PHASE (2026+)
Expansion of the team and the operational infrastructure to support a regulated investment vehicle dedicated to institutional investors. The transition is structured and deliberate, designed to preserve the conviction-driven approach that has shaped our first five years.
The numbers, today
Pitches assessed annually through our nine-pillar framework: 3,000+ Active investments with operational support: 6
Exits to date: 1
Pipeline ventures currently scoring 80/100 or +: 60
Our selectivity is by design. Only ventures clearing the 80/100 threshold receive an investment-readiness conversation. The framework is what allows us to deploy meaningful operational support behind every company we back.
Rigorous Selection, Focused Support
Every venture in our portfolio has been evaluated through the nine-pillar framework. Only ventures scoring 80/100 or higher receive investment consideration. This is what allows us to deploy meaningful operational support behind every company we back.
What 80/100+ Means
Validated market opportunity with clear demand signals
Founder team with relevant domain expertise and complementary skills
Differentiated solution addressing a significant problem
Viable business model with path to profitability
Realistic financial projections grounded in market dynamics
Defensible competitive positioning
Clear execution roadmap with achievable milestones
Our Current Pipeline contains 60+ ventures that have cleared this threshold. The selectivity is what allows us to provide meaningful operational support to each portfolio company.
Investment Parameters
Stage: Pre-seed / Early Stage
Ticket: €60k - €120k initial
Follow-on: capacity reserved
Ownership: 10-25% post-investment
Geography: Italy and Europe
Sectors: no verticals
Strategic Focus
We aren’t interested in chasing today's trends. Our pre-seed and early-stage capital is dedicated to backing the founders who are solving tomorrow's fundamental problems.
Deep Tech
Ventures built on proprietary IP and novel science. We focus on companies where defensibility comes from patents and engineering depth in climate tech, biology, and advanced materials.
Enabling Platforms
Companies building the tools, software, and platforms that will power the next industrial cycles in AI, spatial computing, and robotics.
Scalable Business
A clear path to high margins and strategic value, positioning our companies for acquisition by industrial, pharmaceutical, or technology incumbents.
Engineering the Next Decade
We back companies building foundational technologies for the economy of the next ten years. We look for hard problems — challenges where the solution creates a step change, not incremental value. Our thesis centres on three converging revolutions, all accelerated by AI as a horizontal layer.
Deep Tech
The transition to a net-zero economy is our generation's most complex engineering challenge. We look beyond reporting software and invest in the "hard-tech"—the chemistry, physics, and materials science—that will re-engineer our physical world. From next-generation energy storage to green chemistry and advanced materials, we back companies building the core infrastructure for decarbonization.
Physical-Digital Interface
AI is moving beyond the screen to understand and interact with three-dimensional space. This shift unlocks true automation. We invest in AI-first robotics that can operate in unstructured environments, industrial "digital twin" platforms, and the enabling technologies (sensors, software) that will build the next great computing platform: Spatial Computing.
Programmable Biology
Biology is no longer just a field of discovery; it has become an engineering discipline. The convergence of AI, lab automation, and synthetic biology allows us to "design" solutions at the molecular level. We fund platforms for in silico drug discovery, precision fermentation to create novel proteins and materials, and the foundational technologies for future advanced therapeutics.
We back founders and visionary Engineers who are building highly defensible companies. We look for deep intellectual property (IP) combined with B2B and as-a-service (RaaS, PaaS) business models engineered for long-term, strategic scale.
Why These Ventures Stand Out
Each company in our high-scoring pipeline shares critical characteristics that distinguish them from the broader applicant pool:
Validated Demand: Real customers paying for the product, not just pilot interest or letters of intent.
Defensible Positioning: Proprietary technology, unique data assets, or network effects that create competitive moats.
Execution Capability: Teams combining domain expertise with commercial acumen—technical founders who can sell, or commercial founders who understand technology.
Capital Efficiency: Clear milestones achievable with modest capital deployment, demonstrating disciplined resource management.
Scalability: Solutions addressing pan-European markets, not just local Italian opportunities.
FOR FOUNDERS Submit your venture for evaluation. Structured feedback, potential partnership, and actionable insights — regardless of outcome.
This website has informational purposes only. The content does not constitute an offer, solicitation, recommendation, or invitation to subscribe, purchase, or sell any financial instrument, fund unit, or equity interest. Twenty Investments S.r.l. operates as a privately-held investment company. Any commercial or contractual relationship is established exclusively through individual, private negotiations and the execution of dedicated agreements.
