Luca + Danni to use PJC investment to expand wholesale, e-commerce business

FRED MAGNANIMI is the CEO and founder of Luca + Danni, a jewelry designer and manufacturer headquartered in Cranston that recently received investment support from Boston venture capital firm PJC. / PBN PHOTO/MICHAEL SALERNO
FRED MAGNANIMI is the CEO and founder of Luca + Danni, a jewelry designer and manufacturer headquartered in Cranston that recently received investment support from Boston venture capital firm PJC. / PBN PHOTO/MICHAEL SALERNO

CRANSTON – The Boston-based venture capital firm PJC last month invested in the fast-growing jewelry company Luca + Danni of Cranston.
The investment was a part of a now-closed seed round, but further financial details were not disclosed.
The funds will go toward expanding the strength of the company’s wholesale and e-commerce business, according to Luca + Danni.
“I’m thrilled to welcome PJC into the Luca + Danni family,” said Fred Magnanimi, CEO and founder of Luca + Danni. “We have seen incredible success with our young brand from the very beginning and are excited to be able to leverage PJC to expand even further. The PJC partnership comes at a great time as the additional resources and expertise will help accelerate initiatives with our retailer partners as well as Luca + Danni’s growing e-commerce business.”
PJC, formerly known as Point Judith Capital, was started by Gov. Gina M. Raimondo before she took office. The venture capital company focuses on consumer and enterprise technology investments.
Luca + Dani, a jewelry designer and manufacturer headquartered in Cranston, is growing quickly, and Magnanimi would like to triple its 23-person workforce during the next year-and-a-half.
PJC was the only investor in the round, according to the company.
“Luca + Danni’s remarkable story, commitment to maintaining an authentic brand experience, and an incredibly passionate management team make them a really unique consumer brand,” said David Martirano, managing partner at PJC. “We fully embrace their vision and are committed to helping them grow as they advance their brand nationally.”

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