Skip to content
VC FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 11 SOURCES

Step Fund

Also known as STEP Fund, Step Venture, STEP Venture S.r.l.

Italian EuVECA seed fund (first close €30M in Nov 2025, target €50M) investing €0.5M–€2M pre-Series A in AI-enabled fintech, insurtech, B2B software, healthtech and connected-world startups.

HEADQUARTERS
Milan, Italy
FOUNDED
2025
AUM
€30M (2025)
OUTSIDE CAPITAL
Yes
TEAM LISTED
4 people

Focus

STAGES
Pre-SeedSeed
SECTORS
FintechHealthTechSoftware & SaaSArtificial Intelligence
ASSET MIX
Venture capital
GEOGRAPHY
Italy

Overview

Step Fund is a reserved closed-end Italian AIF qualified as EuVECA, managed by Alternative Capital Partners SGR and advised by Step Venture S.r.l., the team's own company. It held a first closing of over €30M in November 2025, with CDP Venture Capital as anchor (€20M via the PNRR Digital Transition Fund) and Zest, Reale Mutua and Add Value among the investors; the target is €50M with an €80M hard cap. It invests €0.5M–€2M at pre-Series A, usually as lead, in Italian startups or international ones with an Italian base, with offices in Milan and Naples and a reserve for Southern Italy. The four partners are Maria Imbesi, Roberto Montandon, Michele Novelli and Gennaro Tesone.

Investment thesis

Software that reinvents legacy industries with AI as enabler, in fintech, insurtech, B2B software, healthtech and connected world; leads or co-leads, reserves half the fund for follow-ons, takes a board seat; SFDR Article 8+.

PORTFOLIO (3)

People

  • Maria Imbesi
    Partner (Fintech, Healthtech) · source
  • Roberto Montandon
    Partner (B2B Software) · source
  • Michele Novelli
    Partner (Fintech, Healthtech) · source
  • Gennaro Tesone
    Partner (Connected World, B2B Software) · source

Links

Frequently asked questions

Step Fund is a VC fund based in Milan, Italy, founded in 2025.

Yes. Step Fund invests its own capital in private companies.

Step Fund invests at Pre-Seed and Seed stages in Fintech, HealthTech, Software & SaaS and Artificial Intelligence.

Step Fund's stated ticket size is €500K–€2M.

Key people at Step Fund include Maria Imbesi (Partner (Fintech, Healthtech)), Roberto Montandon (Partner (B2B Software)), Michele Novelli (Partner (Fintech, Healthtech)) and Gennaro Tesone (Partner (Connected World, B2B Software)).

Step Fund's investments include Robin Health, Smartwage and Health Force.

The most recent publicly reported investment by Step Fund is Health Force (Seed (€4.2M; led by LUMO Labs)), announced in Sep 2026.

Step Fund states that it accepts submissions through its official contact page.

Yes. Step Fund manages capital from outside investors.