Just as VCs complain that not European companies don’t get enough funding or launch many IPOs in Euro markets, Italian online fashion retailer Yoox has raised €104.5 million (£95.12 million) by listing on the Milan stock exchange. As part of the IPO on Thursday, the company sold 24.3 million shares and the share price ended the day up 8.3 percent at €4.66, reaching a high of €4.99 in Friday trading.

It leaves founder, CEO and chairman Federico Marchetti slightly richer: the entrepreneur is now €21 million (£19.11 million) better off, as Bloomberg notes. One of the key investors selling shares in the IPO is London VC firm Balderton Capital, which first invested in Yoox in 2002 and was its largest institutional investor—although it still retains a post-offering holding and remains its biggest single shareholder.

The Bolgna-based company launched in 2000 and sells big fashion brand clothes in 57 countries through its own portal, as well as managing e-tail sites for brands such as Roberto Cavalli. The company made €101.8 million (£92.66 million) in revenue in 2008; for the first nine months of the year, revenue rose 49 percent to €106.7 million (£97.1 million), while profit reached €2.8 million (£2.54 million).