About us

We are the innovation playmaker

Italian Angels for Growth is the biggest Italian business angel network: more than 200 entrepreneurial, financial and industrial players who invest time and capital for the growth of innovative startups


Italian Angels for Growth, or IAG, is where business angels meet the most tenacious and prepared entrepreneurs.

Our members typically invest 200K € – 1.4M € by participating in early stage financing rounds in companies in the fintech, industrial & energy, internet & tech and life science sectors.

Italian Angels for Growth gives a guide and a methodology to its members that, independently, constitute a consortium for each investment operation, collaborating on a daily basis with the professional staff of the association

Each consortium is led by a “voluntary” partner, who invests a significant amount and acts as the leader of the investment: the Champion

The Champions follow the investment by making themselves available to the founder, but they also supervise the protection of the interests of the business angels and the quality of the transaction.

  • In Italy we are the Business Angel association with several partners
  • We invest a lot in training and updating
  • Each participation is proactively followed by two "Champion" members for everyone


“Imagine a future in which those who want to innovate and contribute to the prosperity of their country will be able to easily find the right capital”


“Helping our members to invest in the best technological startups that are most interesting and attentive to the quality of collective life”


A continuous growth, year by year 

In more than ten years of activity, IAG has analyzed over 5,000 investment opportunities. This has led to the closing of more than 80 deals for a total of € 200 million invested by IAG members as well as by co-investors. 


IAG is a non-profit organization founded in 2007 by nine founding business angels. Inspired by the US model, they also wanted to bring an investment formula to Italy that could involve private capital by putting them at the service of innovative startups with method and professionalism.

Let’s leave the words of our partner co-founder Francesco Marini Clarelli, collected in this video, the story of those first moments.

  • 08 Board of Directors

    IAG is an association that is governed by a board of directors. Currently the members are Antonio Leone (president) , Paola Bonomo (vice-president) , Valerio Caracciolo (Vice-president with responsibility for international relations), Alessandra Piccinino , Carlo Brunetti , Paolo Marzetti , Gian Bruno Mazzi , Carolina Gianardi , Carlo Tassi . Honorary President: Francesco Marini Clarelli . The Governing Council remains in office for two years, meets about once a month and decides on the main subjects concerning the association life.

  • 04 Executive board

    The president Antonio Leone , the two vice-presidents Valerio Caracciolo and Paola Bonomo and the Managing Director Leonardo Giagnoni make up the executive committee, which manages the matters delegated by the Board

  • 07 Screening commitee

    The startups to be presented to the members are evaluated by a special screening committee, made up of seven sector experts, who base their evaluation on five key attributes

    • Market potential
    • Founder quality
    • Uniqueness
    • Results achieved
    • Terms and structure of the operation

  • 04 Structure

    The team of the association , led by the Managing Director Leonardo Giagnoni, consists of a Senior Investment Analyst, two Investment Analysts, an Administration Manager and a Communication Manager, takes care of every day of different activities, from the process of screening to training, from the management of meetings with startups to the support of members for the success of their investments

  • 04 Sector groups

    Members can share their skills to support an assessment that benefits everyone. Thanks to the number of members we can avail ourselves of an important pool of experts now organized in four groups of the sector

  • 01 Territorial groups

    The number of members present throughout Italy and abroad allows the creation of local groups for meetings, training and development of relationships with the local ecosystem actors. The first territorial group, started in 2017, is that of Emilia-Romagna


IAG is its members.

Thanks to the numerous associative activities, IAG also becomes an important meeting point, both for those who already have experience in angel investing and for those who want to approach this type of investment.

Find out here the profiles of our members

Network & Partner

We collaborate with the main players in the market, amplifying the benefits for our members and founders.

Partner list

Work with us

To support the activity of the structure we are always looking for figures with the right skills and interest for the association.