Luca Mannucci, Managing Partner of Sella Venture Partners, shares insights into the firm’s dual strategies in venture capital investing. With a focus on providing European investors access to both primary and secondary allocations in VC funds across Europe and North America, Luca outlined how his team identifies opportunities, evaluates deals, and navigates the complexities of the market. From leveraging untapped opportunities in smaller tickets to exploring sectors like SaaS, fintech, and blockchain, Luca emphasized the importance of prioritizing asset quality over discounts.
1️⃣ Dual Strategies: Sella Venture Partners employs two strategies: primary allocations (top-tier VC funds) and secondary allocations (targeted liquidity solutions), balancing portfolios with a 60-70% primary and 30-40% secondary split.
2️⃣ The Quality Over Discounts Philosophy: While discounts in VC secondaries are significant, Luca emphasizes that the quality of assets is the most crucial determinant of success.
3️⃣ Untapped DealFlow: By focusing on smaller ticket sizes (€1-5M) and leveraging relationships with GPs, Sella accesses a wealth of deal opportunities in underexplored segments.
4️⃣ Sector Insights: Exciting opportunities exist in fintech, SaaS, and blockchain, as these sectors move past overvaluation and into periods of renewed growth.
5️⃣ The Power of Generalists: Generalist funds dominate Sella’s portfolio due to their adaptability, with exceptions for life sciences and cybersecurity, where specialist expertise is critical.
he third edition of 0100 International — organized by Zero One Hundred Conferences in partnership with the Milan City Council’s Department of Economic Development and Milano&Partners — brought together the global private markets community for a high-signal, execution-focused gathering held from October 27–29.
François Candelon, Partner for Value Creation & Portfolio Monitoring at Seven2, shares how the firm aligns every investment around a clear “exit animal”—a vision of the company at exit—and uses disciplined execution, AI-driven transformation, and sustainability as levers for resilience and premium valuations. From reengineering core processes with AI to embedding decarbonization into business strategy, Candelon explains how Seven2 builds companies that are not just exit-ready, but future-proof.
Private markets are entering a new era where trust, compliance, and technology converge. While public markets enjoy automation and transparency, private assets still depend on paper-based, fragmented systems. Antonio Chiarello, CEO of Weltix, argues that the next leap forward is not just digitization, but the creation of digital infrastructures that redefine ownership. In this conversation, he discusses why friction is structural rather than technological, how regulation enables innovation, and how programmable liquidity and transparency can channel more private capital into real economic growth.
