Italian venture H-Farm, which is to be listed on Aim Italia in two weeks’ time, committed to invest 13 million dollars in InReach, a new venture capital firm co-founded by Roberto Bonanzinga, a former partner at Balderton Group, who has been just appointed head of H-Farm’s investments division (see here a previous post by BeBeez). The news was posted by Bonanzinga himself in his blog a few days ago.
InReach will be a new generation venture capital. The co-founders’ idea (they are Mr. Bonanzinga; Ben Smith, former UK Director of Engineering at Yammer/Microsoft, and John Mesrie, former General Counsel di Balderton Capital) is to develop a proprietary software able to make the decision making process for investing in startups more scalable, efficient and informed.
H-Farm’s committement will allow InReach to develop its software and to fund its first investments. Bonanzinga and H-Farm founder, Riccardo Donadon, have been knowing each othrer for about ten years, since their seed co-investment in Depop, a startup that developed a social network which allows users to buy and sell objects directly from their self-phones. Since then Depop raised 10 million euros from investors and moved its headquarters to London.