Italy Fundraising Pipeline - Q1 2021

NB Renaissance Partners III has raised €950m so far and expects to close by the summer of 2021.

Clessidra Capital Partners IV was launched with a €600m hard-cap. The vehicle expects to hold a first close by the end of April 2021.

FICC is expected to hold a final close on its target of €500m in March 2021. The fund has collected €490m so far.

Made in Italy Fund was launched by Quadrivio in partnership with advisory firm Pambianco Strategie d'Impresa in January 2018 and held a first close in March 2018 on €100m. It subsequently held an interim close on €150m in December 2019. The fund expects to hold a new interim close in April 2021 on €225m and a final close by Q3 2021, Quadrivio told Unquote.

Industry 4.0 held a €100m first close in October 2018. Its final close is expected by the end of 2021, the GP told Unquote. The fund invests in SMEs operating in the manufacturing industry, with high potential to grow further via digitalisation and automation, and able to generate annual revenues of €50-150m.

Mid-market
buyouts

Aksìa Capital V held a €100m first close in July 2019. The fund held an interim close on €200m in December 2020 and expects to hold a final close in June 2021 on its €250m hard-cap, the GP told Unquote.

Mandarin Capital Partners III was launched in 2019 with a €250m target and a €300m hard-cap. It has raised €186.3m so far and expects to hold a final close at the beginning of August, the GP told Unquote.

Alcedo has recently started the fundraising of its fifth buyout fund, which is expected to close by June 2021. The fund will deploy equity tickets of around €15-20m to acquire majority stakes in Italian companies with revenues of at least €15m.

Italian Strategy Fund held a €50m first close in June 2019. Riello told Unquote that the fund has raised €70m so far. Its final close is expected between the end of 2021 and the beginning of 2022.

Consilium Private Equity Fund IV held a €15m first close in November 2020 and expects to hold a final close by the end of 2021, the GP told Unquote.

Nov 2019

Entangled Capital I was launched with a €150m hard-cap, and held a €20m first close in December 2019. The vehicle expects to hold an interim close by April and a final closing by December 2021, the GP told Unquote.

Nov 2019

Itago IV has a €130m hard-cap. The GP held a first close on €60m in December 2020 and expects to reach a final close by the end of 2021, Itago told Unquote.

Jan 2020

Metrika first fund launched with a €150m hard-cap, and held a €60m first close. The fund has raised almost €100m so far and expects to hold a final close by the end of the year, hitting its hard-cap. The vehicle targets majority and controlling minority stakes in export-focused Italian companies.

FIMIC acquires minority stakes in businesses generating annual revenues in the €20-250m range. It plans to make co-investments with other private equity funds.

360 Capital V held a €90m first close in April 2020. The vehicle expects to hold a final close in September-October 2021, the VC told Unquote.

Synergo Capital held a €30m first close for its debut venture capital fund, Sinergia Venture Fund, in January 2021. The fund was launched with a €150m target. It finances pre-series-A and series-A rounds to support the growth of businesses that are already generating revenues.

UV T-Growth Fund invests in growth-stage businesses, with a special focus on 5G technology. The fund expects to hold a first close by the end of April 2021, the VC told Unquote.

Vertis

Vertis Venture 5 Scaleup has already collected €35m and expects to hold a first close by the end of April 2021, on around €40m, while the final close is expected by the end of the year, the VC told Unquote.

Claris Biotech I held a €30m first close in September 2020. The fund expects to hold a final close by the end of the summer, the GP told Unquote. The vehicle invests in biopharmaceutical startups in the pre-clinical phase.

Primo Space will invest in seed, series-A and series-B rounds, targeting both upstream and downstream startups across the aerospace industry. It held a €58m first close in July 2020. The fund has collected €78m so far and expects to hold a final close on its €100m hard-cap by the end of 2021, the GP told Unquote.

Fondo Sviluppo PMI II was launched with a €85m hard-cap. It received a €20m commitment from Veneto Sviluppo, the investment vehicle of the Veneto region.  The GP told Unquote that it expects to hold a first close by April 2021 on €40m, and a final close by the end of the year. 

Archeide Lux

Archeide Fondo Innovazione Italia's fundraising was delayed following the coronavirus outbreak and has recently restarted. Archeide told Unquote that it plans to hold a first close by the end of the year.

Eureka Fund I – Technology Transfer was launched with a €60m hard-cap. The fund held a €38m first close in July 2020. It plans to hold an interim close by the end of March and a final close by the end of Q3 2021. It invests in seed and series-A rounds, targeting companies operating in the "deep-tech" industry, with a focus on the discovery and production of advanced materials.

360 Square II plans to hold a first close by September 2021. The fund will deploy equity tickets of €500,000-3m, focusing on seed rounds, primarily across France and Italy.

Debt Select Fund held a €110m first close in October 2019. A second closing is expected by February 2022, the GP told Unquote.

Main Capital is currently fundraising for its first direct lending fund, Main Capital Fund I.

Equita Private Debt II was launched with a €250m hard-cap. The fund held a €100m first close in September 2020 and a €131.5m second close in March 2021. It plans to reach its final close by the end of summer 2021, the GP told Unquote. The vehicle provides financing for buyouts of medium-sized Italian companies.

Anima Alternative 1 was launched with a hard-cap of €200m. The fund held a first close in January 2021 on €117m. It provides debt facilities, including senior debt, unitranche, second lien and mezzanine.

Impresa Italia Private Debt II expects to hold a first close on €50-70m by May 2021, the GP told Unquote. The fund targets Italian mid-market companies and specialises in providing senior and junior loans, residual equity instruments and convertible bonds.