Fondo Italiano d’Investimento secured €113m in commitments for its Fondo Italiano Private Equity Co-investimenti fund, marking its second close. 

The fund, which aims to reach €150m, remains open for another 12 months as discussions with potential investors continue.

Launched in 2023, FIPEC focuses on co-investing alongside private equity firms to support Italian SMEs with revenues of up to €300m. It targets six key sectors: made-in-Italy supply chains, life sciences, industrial technologies, IT and digital, agrifood, and tourism and hospitality. The fund typically invests between €5m and €15m in minority stakes, either during acquisitions or in portfolio company expansions.

In its first year, FIPEC has already deployed 25% of its capital across four co-investments. These include Errevi System, a cloud and cybersecurity IT services provider, in partnership with Kyip Capital; The Nice Kitchen, a producer of professional kitchen accessories, backed by 21 Invest; Eurosirel, a medical devices and cosmetics manufacturer, supported by Arca Space Capital and Alto Partners; and CRM – Casa della Piada, a baked goods company, in collaboration with Wise Equity.

The fund expects to complete between 10 and 15 investments in total, further strengthening its role as a key co-investment vehicle for private equity players in Italy.

Fondo Italiano, founded in 2010 as an initiative by the Ministry of Economy and Finance, is supported by CDP Equity, Intesa Sanpaolo, UniCredit, and other institutional investors. The firm manages €4bn across 21 closed-end mutual funds, executing both direct and fund-of-funds investments.

As Italy’s private equity ecosystem continues to expand, FIPEC’s growth highlights the increasing role of co-investment strategies in fostering SME development and driving sectoral innovation.

Source: Real Deals