Gradiente II holds first close on €60m

Gradiente II has a target of €120m and targets a final close in the first quarter of 2018.

The fund invests €5-10m in companies from different sectors and will take mostly minority stakes.

The fund will exceed its predecessor, Gradiente I, which launched in 2010 and held a final close on €76m in 2012, according to unquote" data.

Placement agent Elm Capital supported the GP on the raise.

Investors
The fundraising involved Italian and foreign institutional investors.

Fund I had a €20m commitment from private equity firm Fondo Italiano d'Investimento.

Investments
The vehicle will make investments of between €5-10m in European companies with a focus on Italy. It is sector agnostic but will not invest in financial services or real estate.

People
Gradiente – Pietro Busnardo (CEO).

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