DaVinci Growth Capital Fund Launches with EIF Support to Accelerate Expansion of Italian Technology and Life Sciences Companies

DaVinci Growth Capital Fund Launches with EIF Support to Accelerate Expansion of Italian Technology and Life Sciences Compan

(IN BRIEF) The European Investment Fund has committed up to €20 million to the DaVinci Growth Capital Fund, a private equity vehicle designed to support innovative Italian small and medium-sized enterprises operating in digital technology, industrial technology, and life sciences. The fund, managed by Alternative Capital Partners SGR in collaboration with RedFish Capital Partners, targets the underserved small-cap growth capital segment and aims to raise €80 million, with a maximum size of €100 million. Backed by the EU’s InvestEU programme and the ESCALAR initiative, the fund seeks to attract additional private capital while supporting growth-stage companies with strong financial profiles through majority investments and strategic value creation initiatives. The strategy aims to generate annual returns exceeding 20 percent while strengthening the competitiveness and innovation capacity of Italy’s SME sector.

(PRESS RELEASE) LUXEMBOURG, 10-Mar-2026 — /EuropaWire/ — The European Investment Fund (EIF), part of the European Investment Bank (EIB) Group, has committed up to €20 million to the DaVinci Growth Capital Fund, a private equity vehicle designed to support innovative Italian small and medium-sized enterprises. The fund targets the relatively underserved small-cap growth capital segment and focuses on businesses operating in technology-driven sectors such as digital technology, industrial technology, and life sciences and health.

DaVinci Growth Capital Fund is the result of a partnership between RedFish Capital Partners and Alternative Capital Partners SGR (ACP), which serves as the fund’s manager. Structured as a EuVECA PIR Alternative Compliant fund, the vehicle aims to provide growth capital to high-potential Italian companies with strong financial fundamentals and expansion prospects.

The investment from the EIF is backed by the European Union’s InvestEU programme and supported through the European Scale-up Action for Risk Capital (ESCALAR), a joint initiative between the European Union and the EIF. ESCALAR is designed to attract private capital into growth funds by improving their risk-return profile and encouraging greater participation from institutional investors.

The DaVinci Growth Capital Fund began its commercialisation activities toward the end of 2025 and has set a target fund size of €80 million, with a hard cap of €100 million. The strategy is focused on acquiring majority stakes in growth-stage Italian companies that demonstrate strong margins and EBITDA typically ranging between €1 million and €4 million.

The fund intends to concentrate investments in three strategic sectors: digital technology, industrial technology, and life sciences and health. Its strategy combines operational value creation, governance enhancement, and consolidation through buy-and-build initiatives. The fund’s expected net internal rate of return is projected to exceed 20 percent annually.

According to EIB Vice-President Gelsomina Vigliotti, the initiative highlights the EIB Group’s role in mobilizing European Union resources through programmes such as InvestEU and directing those resources toward strategic priorities for Europe’s economy. Investments of this type help accelerate the digital transition while strengthening the competitiveness of Italy’s industrial ecosystem.

Emanuele Ottina, Chief Executive Officer of Alternative Capital Partners SGR, and Ofelia Harder, Senior Manager for Business Development and Fundraising, emphasized that the EIF’s participation represents a significant milestone in the fund’s capital-raising process. The fund has already secured commitments from several major institutional investors and continues discussions with additional potential investors currently conducting due diligence.

Marco Marrone, Chief Investment Officer at the EIF, noted that the investment reflects the organization’s role as an anchor investor supporting high-potential companies and growth-focused investment vehicles. In 2025 alone, the EIF invested €687 million in active funds in Italy, marking the highest annual level recorded in the country.

Antonello Carlucci, Managing Partner of the DaVinci Growth Capital Fund, explained that the initiative addresses a structural gap in the private equity market, where relatively few investors focus on smaller growth-stage companies. Many Italian SMEs operate in fragmented markets with significant opportunities for consolidation, particularly through mergers and acquisitions.

By combining experienced investment management with targeted growth strategies, the fund aims to help portfolio companies strengthen governance, scale operations, and expand their market position. Previous investments led by the management team have demonstrated significant improvements in revenue growth, profitability, and employment, highlighting the potential impact of structured growth capital for small and medium-sized enterprises.

The EIF’s involvement also contributes to strengthening governance standards and investor protection while supporting the launch of a new family of private equity funds managed by ACP. In addition, the investment plays an important catalytic role in helping the fund reach its initial closing and attract further institutional participation.

Through the combination of the InvestEU guarantee and the ESCALAR mechanism, the DaVinci Growth Capital Fund is positioned to mobilize additional private capital and support the growth of innovative Italian businesses in sectors critical to Europe’s technological and industrial development.