Two Italian VC firms and an institutional player, Fondo Italiano di Investimento, have combined to form United Ventures, closing a first round of funding at ?30 million ($39M). The new firm has set a fund-raising target of ?50 million, with a term of ten years and brings together Annapurna Ventures, a firm founded by Massimiliano Magrini which has specialized in seed investing, and Jupiter Venture Capital, which specialized in early-stage and late-stage investments, a firm founded by Paolo Gesess.Source: http://feedproxy.google.com/~r/Techcrunch/~3/g2kao8juJbk/
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