Venture capital and private equity: Milan at the centre of change

From markets that seek new equilibriums to investors who are always looking towards longer term objectives, private markets and venture capital are living a crucial transformation, despite the vast array of challenges they face. These range from the growing demand for liquidity from institutional investors, to shifts in investment strategies among family offices, to renewed interest in certain assets such as infrastructure and real assets, as well as longer exit timelines compared to the past.

These are among some of the themes that will be at the heart of the newest edition of 0100 International. Organised by Zero One Hundred Conferences and in collaboration with the Commune di Milano and Milano & Partners, from the 27 to the 29 October over 700 participants and 100 speakers from every corner of the sector will meet at the Palazzo Castiglioni for two days of discussions and exchanges.

These range from the growing demand for liquidity from institutional investors, to shifts in investment strategies among family offices, to renewed interest in certain assets such as infrastructure and real assets, as well as longer exit timelines compared to the past.

Venture Capital: numbers, challenges, and signs of revival

Looking at the numbers, 2024 was a record year for venture capital. For the moment however, that remains a distant memory. In terms of fundraising, the results from the first six months of 2025 did not reach the same levels as last year during the same period. In particular, Italy saw its volume halved, amounting to €1.245 billion.

These figures reveal a mixed picture, though there are positive signs emerging. 85% of the investments come from domestic operators, the share of international investors is growing exponentially, and Family Offices are taking on an increasingly central role in the world of VC and private markets.

It is for these reasons that the medium-long term outlook is one of large scale growth, differentiation and expansion. But how can we maximise these opportunities for venture capital in a global context?

Milan at the centre of the transformation

The choice of the Lombard capital was not a coincidence. “Today Milan is an economic, financial and international capital, and it plays a fundamental role in the strategic development of the country. The fact that it was selected for the new edition of 0100 International allows us to place even more importance on all the themes that revolve around the world of venture capital and private markets. The aim is to draw eyes, young talent, startups and investment into the heart of the city” underlined Alessia Cappello, Milan’s Councillor for Economic Development, during the press conference held to promote this year’s edition.

Digital infrastructure and energy on investors’ radars

A hot topic at the new edition will be the renewed focus on sustainable development. Private and institutional investors are once again looking towards sectors like renewable energy and digital infrastructure. Until recently, these assets were still considered marginal, but they are now once again being considered as potential new big hitters.

On the subject of technological infrastructure, Massimiliano Magrini, founder and managing partner at United Ventures, underlined that “a system that undervalues investment in technology risks not being able to compete on a global scale. Italy, for example, needed Covid to understand that without technological and digital infrastructure a country can’t function. Now, with all of the ongoing geopolitical changes, this has become even more important. Also because looking at Europe, we see that it runs on technological platforms that are not European, and this creates a very strong dependency on ‘external providers’. But how can a continent function without its own technological infrastructure to support its essential functions? This, in my opinion, remains an open question, and the venture capital industry could represent an opportunity to fill this gap.”

Is it time for secondaries?

Among the topics on the agenda, there will also be time dedicated to discussing the rise of secondary markets, a topic that has now moved beyond its ‘nice status’ to play a broader role in shaping the private equity landscape. Forecasts for next year point to sustained growth, with on the one hand general partners continuing to search for liquidity, and on the other Limited Partners who seek solutions that offer them increased flexibility and diversification.

In this context, the market will have to overcome a crucial challenge: be ready to satisfy both and to amplify their investment opportunities.

Domande frequenti su Venture capital and private equity: Milan at the centre of change

Quali sono le principali sfide che i mercati privati e il venture capital stanno affrontando?

I mercati privati e il venture capital si trovano di fronte a diverse sfide, tra cui la crescente domanda di liquidità da parte degli investitori istituzionali, i cambiamenti nelle strategie di investimento dei family office e l'allungamento dei tempi di uscita dagli investimenti.

Quali settori specifici sembrano attrarre l'interesse degli investitori, secondo l'articolo?

L'articolo indica un rinnovato interesse degli investitori verso asset specifici come le infrastrutture e i real assets. Inoltre, le infrastrutture digitali e il settore energetico sono menzionati come aree di interesse per gli investitori.

In che modo i mercati privati e il venture capital stanno vivendo una trasformazione?

I mercati privati e il venture capital stanno vivendo una trasformazione cruciale a causa della ricerca di nuovi equilibri nei mercati e della focalizzazione degli investitori su obiettivi a lungo termine, nonostante le numerose sfide.

Cosa si intende per 'secondaries' nel contesto degli investimenti?

L'articolo solleva la questione se sia il momento opportuno per gli investimenti 'secondaries', suggerendo una potenziale opportunità o strategia di investimento in questo ambito, senza però fornire dettagli specifici sulla sua definizione.

Come stanno cambiando le strategie di investimento dei family office?

L'articolo menziona che le strategie di investimento dei family office stanno subendo dei cambiamenti, contribuendo alla trasformazione dei mercati privati e del venture capital, sebbene non specifichi la natura esatta di tali cambiamenti.

of Paola Ragno

Journalist and Senior Content Editor at We Wealth, she has a degree in Linguistic and Intercultural Mediation from the University of Bari. At We Wealth, she is responsible for developing multimedia and editorial content for both the website and magazines. In the past, she has also worked and collaborated with Class CNBC.