Progressio appoints non-executive president ahead of fundraising

The appointment is intended to strengthen the firm ahead of a future fundraising effort.

Balbo has a wealth of experience in Italian private equity. He was formerly general manager of Finnova, lauded as Italy's first venture capital firm, where he worked alongside Guido de Vivo, current vice president and managing director of Progressio.

Balbo co-founded B&S Private Equity and is the founder of Oltre Venture, Italy's first social impact investor.

He studied physics at the Università degli Studi di Milano before completing an MBA at Bocconi University.

Progressio manages more than €305m across two funds, Progressio Investimenti and Progressio Investimenti II. The GP invests primarily in the industrial and services sectors, where it backs local SMEs.

The firm's most recent acquisition was the secondary buyout of industrial supplier Duplomatic Oleodinamica from Axa Private Equity.

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