Q Group holds €100m first close for Industry 4.0 fund

The GP plans to hold a final close by the end of 2019 and to make its first investment in the coming months.

Q Group has recently launched a €200m vehicle targeting Italian SMEs operating in the fashion, design, beauty and food industries, called Made in Italy Fund, which will be managed in partnership with advisory firm Pambianco Strategie d'Impresa.

Q Group is led by co-CEOs Walter Ricciotti and Alessandro Binello. They previously held the positions of Quadrivio Capital CEO and president, respectively, until November 2017, when the Italian GP was acquired by Green Arrow Capital.

Investors
The fund's LP base is composed of Italian and international institutional investors (around 80% commitments) and family offices and high-net-worth individuals (20%).

Investments
The GP aims to build a portfolio of 10 to 15 companies by deploying equity tickets of around €20-30m. It will invest in SMEs operating in the manufacturing industry, with high potential to grow further via digitalisation and automation and able to generate annual revenues between €50-150m. The companies targeted by the vehicle will be mainly based in Italy but 25% of the fund's capital can be deployed abroad. Industry 4.0 will use moderate leverage in its transactions, not exceeding 3x EBITDA. The fund has net IRR target of 20%.

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