VC FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 12 SOURCES

AVM SGR

Also known as AVM SGR S.p.A. Gestore EuVECA Società Benefit, AVM Gestioni SGR, AVM Gestioni, AVM

Milan EuVECA manager (benefit company) founded in 2016; runs the Talent, Cysero (robotics and cybersecurity), Rialto (B2B digital) and Italian Fine Food funds and the Gaia Growth umbrella fund.

HEADQUARTERS: Milan, Italy
FOUNDED: 2016
AUM: —
OUTSIDE CAPITAL: Yes
TEAM LISTED: 10 people

Focus

STAGES: SeedSeries AGrowth
SECTORS: Deep Tech Software & SaaS Food & Agriculture Consumer & E-commerce
ASSET MIX: Venture capitalPrivate equity
GEOGRAPHY: Italy

Investment arms & vehicles

Rialto Venture Capital (Rialto 1 EuVECA)
Hosted VC brand; Rialto 1 EuVECA fund (B2B digital transformation, Series A) formally managed by AVM SGR

Overview

AVM SGR is a Milan asset management company and EuVECA manager, organised as a società benefit, founded in 2016 by Giovanna Dossena and Claude Marie Breuil. It manages closed-end reserved funds for institutional, professional and qualifying private investors: Talent EuVECA (early-stage and growth Italian SMEs), Cysero EuVECA (robotics, cybersecurity and AI, promoted with Kilometro Rosso), Rialto 1 EuVECA (B2B digital transformation, Series A), Italian Fine Food (aggregations of Italian food SMEs) and the multi-compartment Gaia Growth fund.

Investment thesis

Minority and expansion stakes in Italian SMEs and early-stage companies, with sector funds in robotics and cybersecurity, B2B digital transformation, “Made in Italy” consumer brands and food aggregations.

PORTFOLIO (16)

Dectar
Software & SaaS
Oversonic Robotics
Deep Tech
Alba Robot
Mobility & Logistics
Agade
Deep Tech
Flying Basket
Deep Tech
Alto Robotics
Deep Tech
Reiwa
Deep Tech
SysDesign
Deep Tech
Savini Tartufi
Food & Agriculture
Bracca-Pineta
Food & Agriculture · since 2025
Europan Sud
Food & Agriculture
Baleri Italia
Consumer & E-commerce
United Group
Flyted
Chite
Consumer & E-commerce
Woolf
Mobility & Logistics

People

Giovanna Dossena
Co-founder and Principal · source
Claude Marie Breuil
Co-founder · source
Alberto Stanghellini
CEO (Amministratore delegato) · source
Stefano Filippini
Partner · source
Andrea Stopper
Partner · source
Carlo Piccinini
Portfolio Manager and Partner · source
Lorenzo Snaidero
Investment Manager · source
Sandro Etalle
Key Manager, Cysero · source
Stefano Gallucci
Key Manager, Cysero · source
Luca Todesco
Key Manager, Cysero · source

Frequently asked questions

AVM SGR is a VC fund based in Milan, Italy, founded in 2016.

Yes. AVM SGR invests its own capital in private companies.

AVM SGR invests at Seed, Series A and Growth stages in Deep Tech, Software & SaaS, Food & Agriculture and Consumer & E-commerce.

Key people at AVM SGR include Giovanna Dossena (Co-founder and Principal), Claude Marie Breuil (Co-founder), Alberto Stanghellini (CEO (Amministratore delegato)) and Stefano Filippini (Partner).

AVM SGR's investments include Dectar, Oversonic Robotics, Alba Robot, Agade, Flying Basket, Alto Robotics, Reiwa and SysDesign, among others.

The most recent publicly reported investment by AVM SGR is Dectar (Reserved capital increase (Cysero EuVECA)), announced in May 2025.

Yes. AVM SGR manages capital from outside investors.