Leonardo Maria Del Vecchio’s family office, LMDV Capital, has obtained €350m ($408m) in financing from Indosuez Wealth Management, a subsidiary of Crédit Agricole, to expand its investment portfolio, according to a report by Bloomberg.

The funding will support selective acquisitions and initiatives in the industrial and real estate sectors, building on the family office’s recent activity in Italy. LMDV Capital has already acquired spa and mineral water company Acqua & Terme Fiuggi, luxury hospitality group Twiga, and a stake in Leone Film, giving it assets estimated at around €1bn.

Leonardo Maria Del Vecchio, 30, is one of six heirs of the late EssilorLuxottica founder Leonardo Del Vecchio. He currently serves as Chief Strategy Officer of the eyewear group and as President of Ray-Ban. Earlier this year, he appointed rapper A$AP Rocky as creative director of Ray-Ban in a high-profile brand move.

Beyond LMDV Capital, the wider Del Vecchio family controls Delfin, the €50bn holding company that is EssilorLuxottica’s largest shareholder and a key player in the consolidation of Italian banks through stakes in Mediobanca, UniCredit, Generali, and Monte dei Paschi. 

Leonardo Maria holds a 12.5% share in Delfin, though succession planning remains unresolved more than three years after his father’s death.

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