Accelerator / StudioPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 5 SOURCES

TEF Fund SIS

Sole shareholder since July 2026 (previously Università Bocconi) Tech Europe Foundation

Also known as TEF Fund Società di Investimento Semplice S.p.A., B4i Fund SIS, B4iFund SIS S.p.A., B4IFUND Società di Investimento Semplice

Milan Società di Investimento Semplice (2021, ex B4i Fund SIS) that invests €80K in each startup of the B4i accelerator; funded by Università Bocconi, owned by Tech Europe Foundation since July 2026.

Not to be confused with B4i Alumnus Angels (angel group of the Bocconi community).

HEADQUARTERS: Milan, Italy
FOUNDED: 2021
AUM: €2.6M (2026)
OUTSIDE CAPITAL: —
TEAM LISTED: 6 people

Focus

STAGES: Pre-Seed
SECTORS: Software & SaaS HealthTech Education Artificial Intelligence Consumer & E-commerce
ASSET MIX: Venture capital
GEOGRAPHY: ItalyEurope

Overview

TEF Fund SIS S.p.A., named B4iFund SIS until July 2026, is a self-managed Società di Investimento Semplice set up in June 2021 on the initiative of Università Bocconi and registered with Banca d’Italia in the SICAF register. It invests in startups selected by the B4i – Bocconi for Innovation accelerator, paying €80,000 as an advance on a future capital increase that converts into a 4–6% stake. Bocconi, its sole shareholder, committed €6M in total; on 21 July 2026 its shares passed to Tech Europe Foundation, of which B4i is now part. At 30 June 2026 it had invested in 47 companies, with net assets of €2.63M.

Investment thesis

Fills the gap between company formation and angel or seed rounds, mainly supporting entrepreneurship by Bocconi students and alumni and graduates of other universities.

PORTFOLIO (20)

QI4M
since 2022
Mapo Tapo
Consumer & E-commerce · since 2022
Genoa Instruments
Deep Tech · since 2022
Holifya
HealthTech · since 2022
Drype
since 2022
Scavenger AI
Artificial Intelligence · since 2023
Vivaio Ventures
since 2024
Genogra
since 2024
Eira.ai
Artificial Intelligence · since 2024
Forte Audio
since 2024
Ditta Labs
since 2025
Qgrain
since 2025
Parkito (All InDaBox)
Mobility & Logistics · since 2025
Infraware
since 2025
Doctorsa
HealthTech · since 2026
EVA Surgica
HealthTech · since 2026
Lachesis Bio
Biotech & Life Sciences · since 2026
Minerva Education AI
Education · since 2026
Hotiday
Exited (sold 2025)
Aivesp (Olivia)
Exited (sold May 2026)

People

Maurizio Mongardi
Chairman of the Board · source
Domenico Valenti Gatto
Chief Executive Officer (Amministratore Delegato) · source
Andrea Fosfuri
Board member · source
Giulia Bianchi Frangipane
Board member · source
Stefano Massarotto
Board member · source
Alessandra Scotti
Board member · source

Frequently asked questions

TEF Fund SIS is a accelerator based in Milan, Italy, founded in 2021.

Yes. TEF Fund SIS invests its own capital in private companies.

TEF Fund SIS invests at Pre-Seed stage in Software & SaaS, HealthTech, Education, Artificial Intelligence and Consumer & E-commerce.

TEF Fund SIS's stated ticket size is Up to €80K.

Key people at TEF Fund SIS include Maurizio Mongardi (Chairman of the Board), Domenico Valenti Gatto (Chief Executive Officer (Amministratore Delegato)), Andrea Fosfuri (Board member) and Giulia Bianchi Frangipane (Board member).

TEF Fund SIS's investments include QI4M, Mapo Tapo, Genoa Instruments, Holifya, Drype, Scavenger AI, Vivaio Ventures and Genogra, among others.

The most recent publicly reported investment by TEF Fund SIS is Meddle (Conversion of €80K advance into equity), announced in Jul 2026.