As the private equity industry begins to emerge from a slowdown in 2023, there is one sector that funds are focusing on, which knows no crisis: technology. According to the latest report from Bain & Company, globally, technology accounts for almost a third of the total number of transactions recorded last year. Italy is no exception, although it still lags behind European levels in terms of invested capital and number of targets.

Here lies the opportunity, notes Hat SGR CEO Ignazio Castiglioni: “The Italian tech market may not be as well-known as food or fashion, but the sector is actually particularly interesting because it’s in a phase of significant growth,” he says. Italy, he reminds us, “expects GDP growth between 0.6% and 1.1% in the 2023-2026 period, with an average CAGR of 1%, while the digital sector is forecasted to grow with a three-year CAGR of almost 5%. Digging deeper, the Italian tech market includes some subsectors such as digital enablers, technologies that enable digitalization, such as cloud computing, but also cybersecurity, IoT, big data, and of course, artificial intelligence. These five subsectors are expected to grow by about 14% annually. Cloud computing alone is expected to see a 21% CAGR year-over-year in the next three years.”

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