21 Investimenti III, which surpasses the initial target of €300m, received support from existing institutional investors as well as key new partners, both from Europe and the US. According to a note, more than half of the capital was raised outside of Italy.
The fund focuses on making control growth investments in Italian SMEs with enterprise values ranging from €50m to €200m.
It has already completed two investments in:
– SIFI, an Italian provider of innovative pharmaceutical treatments, instruments and equipment for eye care and
– Poligof, a provider of backsheet films for hygienic disposable products.
Since its creation in 1992, 21 Investimenti has invested in 37 companies and exited 27. Based in Treviso and Milan, it is now part of 21 Partners, a European private equity group led by Alessandro Benetton and Gérard Pluvinet, which invests in companies based in France, Italy, Switzerland and Poland.