Michele Novelli built his background running actual telecom scale-ups like Omnitel/Vodafone Italia and Fastweb before moving into fintech, where he led Prestiamoci and later focused on spotting overlooked inefficiencies in large systems, such as unused corporate welfare budgets at Smartwage, while looking for founders who can change how he sees an industry in a short conversation. His track record spans exits like Klarna/Moneymour, Blackstone/Cardo, TripAdvisor/Restopolis, and Telefónica/HanseNet, and he tends to stay closely involved through board roles at companies like AWorld, Prestiamoci, and Alternative Capital Partners rather than just backing companies from a distance.
About their Fund
Sectors
AI, Fintech, Insurtech, SaaS, Health
Rounds
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Notable Investments
Step Venture leads as the first institutional investor in AI-first digital startups in Italy that already have an MVP or early customers but haven't reached Series A, with a team of four partners who have personally founded, scaled, and exited companies. The fund runs out of both Milan and Naples, committing at least 20% of its resources to Southern Italy, and is managed by Alternative Capital Partners with CDP Venture Capital as an anchor investor.
Notable Fund
Investments
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Popular Investors
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Deeptech / Hardware
Robotics
Biotech
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12
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Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
Defense
Deeptech / Hardware
Energy
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7
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Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
Unknown
Defense
Deeptech / Hardware
Energy
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7
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Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
Unknown
Biotech
Health
Deeptech / Hardware
+
2
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Unknown
Pre-Seed - Seed
Unknown
$250K - $2M
Unknown
Climate
Deeptech / Hardware
Materials
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4
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Unknown
Pre-Seed - Seed
Unknown
$400K - $1.5M
Unknown
Deeptech / Hardware
Robotics
Biotech
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7
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Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
Deeptech / Hardware
Robotics
Biotech
+
2
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Unknown
Pre-Seed - Seed
Unknown
~$750K
Unknown
Fintech
Deeptech / Hardware
Devtools
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2
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Unknown
Pre-Seed - Series A
Unknown
$250K-$1M
Unknown
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