The episode breaks down Newcleo’s €75M growth round and why nuclear is inherently capital-intensive, with a bold timeline toward prototypes and operations. The episode clarifies key nuclear concepts—SMRs for deployability, MOX fuel for circularity (recycling nuclear waste into energy), and the difference between megawatt thermal vs megawatt electric as an efficiency lens. The episode also highlights why Newcleo’s cap table matters: industrial investors signal credible demand from heavy industries like steel, chemicals, and shipping. The episode then shifts to Italy’s infrastructure wave: major investments in AI-ready data centers around Milan and strategic consolidation in fiber/subsea connectivity (including Retelit’s BT Italia deal). (retelit.it) . A sharp “next moat” angle emerges—heat reuse as a competitive advantage for data centers, plus distributed compute/heating experiments. Finally, Omney stands out as a traction story: a financial education startup attacking Italy’s low financial literacy, reportedly matching its pre-seed raise in revenue within a week and scaling an audience fast.

Niccolò's newsletter: ⁠⁠http://dealflowit.niccolosanarico.com/⁠⁠Watch on Youtube: ⁠https://www.youtube.com/@giacomomollo⁠Listen to all episodes on audio:Spotify: ⁠⁠https://spoti.fi/3fVynsQ⁠⁠Google Podcast: ⁠⁠https://bit.ly/3thf9RC⁠⁠Apple Podcast: ⁠⁠https://apple.co/3Elhykq⁠⁠Amazon Music: ⁠⁠https://shorturl.at/9Dtd9⁠⁠Get in touch:Instagram: ⁠⁠https://www.instagram.com/giacxxx⁠⁠Twitter: ⁠⁠https://twitter.com/giacomomollo⁠⁠Email: giacomo@in3.ventures#venturecapital #italy #startup

The discussion opens with the Smart Capital, CrowdFundMe, and WeAreStarting reverse merger, highlighting how a publicly listed SME finance platform could act as a “finance operating system” rather than a traditional crowdfunding play. The hosts unpack regulatory mechanics like the Whitewash Clause and minority shareholder protection, explaining why this structure accelerates consolidation. Attention then shifts to TeamSystem’s acquisition of AIG Classic in Spain, framing accounting software as a compliance-driven SaaS gold rush. The conversation escalates with Genenta Science’s radical transformation into a biotech, defense, aerospace, and national security consolidator. The episode closes by connecting dual-use technology, geopolitics, and government intervention, showing how investor sentiment and public markets are rapidly realigning.

Niccolò's newsletter: ⁠⁠http://dealflowit.niccolosanarico.com/⁠⁠Watch on Youtube: ⁠https://www.youtube.com/@giacomomollo⁠Listen to all episodes on audio:Spotify: ⁠⁠https://spoti.fi/3fVynsQ⁠⁠Google Podcast: ⁠⁠https://bit.ly/3thf9RC⁠⁠Apple Podcast: ⁠⁠https://apple.co/3Elhykq⁠⁠Amazon Music: ⁠⁠https://shorturl.at/9Dtd9⁠⁠Get in touch:Instagram: ⁠⁠https://www.instagram.com/giacxxx⁠⁠Twitter: ⁠⁠https://twitter.com/giacomomollo⁠⁠Email: giacomo@in3.ventures#venturecapital #italy #startup

The discussion starts with early-year funding momentum in Italy, highlighting structured club deals and their role in smaller and mid-size rounds. A major focus is D-Orbit’s €110M growth round, led by Azimut, showcasing how accredited investor networks and Luxembourg-based SPV vehicles are reshaping capital aggregation. The hosts analyze why advanced fund structures outside Italy enable faster execution and regulatory clarity. The conversation then shifts to Brum, a mobility-tech startup digitizing driver’s license processes, and why Italian Founders Fund’s rapid deployment matters. The episode concludes with insights from 2025 ecosystem reports, revealing Italy’s strong growth rates but structurally smaller early-stage round sizes compared to other European markets. The key takeaway: Italy’s venture ecosystem is maturing fast, but scaling capital efficiency remains the real unlock.