Milan, December 2023 — BlackSheep MadTech Fund has officially closed its fundraising at €50 million, ahead of the originally planned timeline. The early close reflects strong LP conviction in the fund's MadTech and AI investment thesis.
The fund, managed by BlackSheep SGR S.p.A. (formerly Eureka! Venture SGR) and authorized by the Bank of Italy as an Alternative Investment Fund Manager, deployed capital across a concentrated portfolio of European technology companies operating at the intersection of marketing technology, data intelligence, and artificial intelligence.
Fund I highlights:
- Three realized exits: Scibids (acquired by DoubleVerify, Nasdaq: DV), Roibox (acquired by Jakala), Inflead (acquired by TeamBlue)
- One unicorn exit in the portfolio
- Portfolio companies active across programmatic advertising, performance marketing analytics, influencer intelligence, and audio advertising
With Fund I now closed, BlackSheep is actively preparing Fund II — the Domain-Specific AI Fund — targeting a €100 million raise to back the next generation of European AI-native enterprise software companies.