VC FundPuts its own capital into companiesLAST VERIFIED Oct 2026 · 10 SOURCES

Lumen Ventures

Also known as Lumen Ventures SICAF SIS SpA, Lumen Ventures Società di Investimento Semplice, Lumen I, Lumen II

Rome seed-stage “operator fund” investing in insurtech, fintech, digital health and cybersecurity via Lumen I (a SIS) and Lumen II, a fund managed by Ulixes SGR with a €100M hard-cap target.

HEADQUARTERS: Rome, Italy
FOUNDED: —
AUM: —
OUTSIDE CAPITAL: Yes
TEAM LISTED: 6 people

Focus

STAGES: Seed
SECTORS: Fintech HealthTech Software & SaaS Artificial Intelligence
ASSET MIX: Venture capital
GEOGRAPHY: Italy

Investment arms & vehicles

Lumen I (Lumen Ventures SICAF SIS SpA)
First vehicle, a Società di Investimento Semplice investing at seed stage
Lumen II
Second seed fund, an EuVECA AIF managed by Ulixes SGR in partnership with Lumen Ventures (target hard cap €100M)

Overview

Lumen Ventures is a Rome-based seed investor whose general partners describe themselves as former founders. Its first vehicle, Lumen Ventures SICAF SIS SpA, is a Società di Investimento Semplice registered with Banca d’Italia; its second fund, Lumen II, is managed by Ulixes SGR in partnership with Lumen Ventures. Lumen II's first closing, announced in March 2026, drew CDP Venture Capital SGR, Fondazione ENPAM, Banca Popolare di Fondi and regional banks, and targets a €100M hard cap. It invests mainly in Italy, and in foreign companies with a strong link to the Italian market.

Investment thesis

Backs founders at seed stage in companies transforming financial services, insurance and healthcare through technology (insurtech, fintech, digital health, cybersecurity); Ulixes describes Lumen II as backing second-time founders with Italian roots.

PORTFOLIO (14)

SerenisNOTABLE
HealthTech
Carol
HealthTech
Insoore
Fintech
GenomeUp
HealthTech
Jobtech
Software & SaaS
Qomodo
Fintech
NEA
Genie
Fintech
Strada AI
Artificial Intelligence
Underscore District
Consumer & E-commerce
AutoConnexa
Fintech
Bikeroom
Consumer & E-commerce
Starting Finance
Education
Toolhouse
Artificial Intelligence

People

Davide Fioranelli
General Partner · source
Luca Adinolfi
General Partner · source
Mattia Margonari
CFO · source
Valerio Durazzo
Investment Manager · source
Jessica Jade Cleary
Relations & Communication · source
Daniele Vadori
Key Manager, Lumen II · source

Frequently asked questions

Lumen Ventures is a VC fund based in Rome, Italy.

Yes. Lumen Ventures invests its own capital in private companies.

Lumen Ventures invests at Seed stage in Fintech, HealthTech, Software & SaaS and Artificial Intelligence.

Key people at Lumen Ventures include Davide Fioranelli (General Partner), Luca Adinolfi (General Partner), Mattia Margonari (CFO) and Valerio Durazzo (Investment Manager).

Lumen Ventures's investments include Serenis, Carol, Insoore, GenomeUp, Jobtech, Qomodo, NEA and Genie, among others.

Yes. Lumen Ventures manages capital from outside investors.