Ligurcapital
98.699%-owned subsidiary, under the direction and coordination of FI.L.S.E. (Finanziaria Ligure per lo Sviluppo Economico)
Also known as Ligurcapital S.p.A., Ligur Capital
Genoa-based investment company of the Liguria region (98.7% FILSE) taking temporary minority equity, quasi-equity and debt positions in Ligurian startups and SMEs; 170 companies in portfolio.
- HEADQUARTERS
- Genoa, Italy
- FOUNDED
- 1989
- AUM
- —
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 4 people
Focus
- STAGES
- SeedSeries AGrowth
- SECTORS
- —
- ASSET MIX
- Direct investmentsVenture capital
- GEOGRAPHY
- Italy
Overview
Ligurcapital S.p.A. was set up in 1989 with mixed public and private capital to take risk-capital stakes in companies located in Liguria, using its own funds and EU funds entrusted by Regione Liguria. It is now 98.699% owned by FI.L.S.E., the Liguria region's in-house finance company, with the Genoa and Riviere di Liguria chambers of commerce holding the rest. It offers minority equity, semi-equity, repayable loans, participative instruments and debt securities of EUR 50k–1.5M, and reports a portfolio of 170 companies. In September 2026 it opened the EUR 10M ERDF 2021-2027 “Fondo capitale di rischio”, which invests EUR 100k–500k in equity or quasi-equity alongside a private co-investor.
Investment thesis
Startups and micro, small and medium-sized companies with operations in Liguria; temporary minority stakes, with a private, independent co-investor holding 40–60% of each round under the ERDF risk-capital fund.
People
Links
Frequently asked questions
Ligurcapital is a government-backed fund based in Genoa, Italy, founded in 1989.
Yes. Ligurcapital invests its own capital in private companies.
Ligurcapital invests at Seed, Series A and Growth stages.
Ligurcapital's stated ticket size is €50K–€1.5M.
Key people at Ligurcapital include Monica Nolo (Director), Giorgio Lamanna (Chairman), Luca Rossi (Fund management and corporate finance) and Mario Raggi (Fund management and corporate finance).
Ligurcapital states that it accepts submissions through its official contact page.
No. Ligurcapital invests its own capital and does not raise money from outside investors.