Milan · Seed–Series B · 7 people tracked
Investment thesis
BlackSheep Ventures invests exclusively in artificial intelligence companies, spanning AI-native software, machine learning infrastructure, domain-specific AI, and AI-enabled platforms. The firm emphasizes vertical and domain-specific AI—systems built for particular industries or professional sectors such as retail, marketing, finance, healthcare, legal, and supply chain—arguing these deliver higher ROI, accuracy, compliance, and defensible moats compared with general-purpose models. It also backs companies advancing European AI sovereignty, supporting AI infrastructure under regional jurisdiction that ensures GDPR compliance and strategic autonomy from non-European providers. The fund describes itself as one of the leading dedicated AI VC funds in Southern Europe and is regulated as an AIFM by the Bank of Italy.
Source: firm website, verified Aug 16, 2026.
Team · 7 people
from the firm's websiteWhat they invest in
from 9 of 15 portfolio companiesAI & Machine Learning ×7Marketing Tech ×7SaaS ×5AdTech ×3Enterprise Software ×2Cybersecurity ×1E-commerce ×1Media & Entertainment ×1
HQs:Italy×1
Investments · 15 tracked
founders shown can be your intro pathAdTonos operates a digital audio advertising platform that lets advertisers buy targeted, measurable audio ads across radio, podcasts, music streaming, gaming and mobile apps, and lets publishers and streaming providers monetise their audio streams.
AdTechMarketing TechMedia & Entertainment
Co-investorsCofounderZoneCurious Capital GmbH & Co. KG
AI-driven data platform helping publishers and advertisers reach and measure incremental audiences with zero personal data disclosed.
Circeus acquires and holds B2B mission-critical software companies as a permanent home, applying an AI platform and shared back-office functions (finance, HR, tax, data) to grow them.
AI & Machine LearningEnterprise SoftwareSaaS
Co-investorsAvonmore DevelopmentsFounders FactoryFounders Factory NYNFX
AI-driven creative optimization and dynamic content personalization for digital advertising at scale.
Domyn offers an integrated, chip-to-frontend AI framework that lets organizations run private, air-gapped AI infrastructure with full control over their data, models, and applications.
AI & Machine LearningCybersecurityEnterprise SoftwareMilan
Uljan Sharka(Executive Officer, Director)
Co-investorsNovaCapitalRabo Corporate Venturing
Kolsquare provides an influencer marketing platform that lets brands and agencies search millions of creators by niche, socio-demographic data and compliance score, then plan, manage and measure campaigns.
AI & Machine LearningMarketing TechSaaS
Kleecks is a SaaS platform that uses AI to optimize eCommerce websites in real time, covering SEO, page speed, conversion rate optimization, accessibility, and AI content generation.
AI & Machine LearningE-commerceMarketing Tech
AI governance and responsible AI framework platform for enterprise risk and compliance teams.
Roibox provides a geospatial marketing platform for pay-per-click (PPC) advertising, letting performance agencies and media buyers target ads by location, auto-fix campaigns, and analyze performance using location data.
AdTechMarketing TechSaaS
Scibids (DV Scibids AI) provides AI that automates and optimizes programmatic advertising campaigns to meet brands' custom KPIs, incorporating first- and third-party data to adjust bidding strategies.
AdTechAI & Machine LearningMarketing Tech
Co-investorsEUREKA! VentureIris Capital
Spoki is an Italian Customer Experience Management platform built on Meta's official WhatsApp Business API, unifying AI chatbots, marketing automation, broadcasts, conversational CRM, and Voice AI across WhatsApp, Voice, SMS, and Email in a single inbox.
AI & Machine LearningMarketing TechSaaS
Frequently asked questions
- How many investments has BlackSheep Ventures made?
- BlackSheep Ventures has 15 tracked investments, including 1 dated in the last 24 months.
- What stage does BlackSheep Ventures invest at?
- BlackSheep Ventures invests at the Seed, Series A, Series B stages.
- What sectors does BlackSheep Ventures focus on?
- BlackSheep Ventures focuses on AdTech, AI & Machine Learning, Enterprise Software, Marketing Tech, SaaS.
- Where is BlackSheep Ventures located?
- BlackSheep Ventures is headquartered in Milan, IT.
- Who does BlackSheep Ventures co-invest with?
- BlackSheep Ventures most often shares deals with EUREKA! Venture, Founders Factory, Iris Capital, among 11 tracked co-investors.
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