Italian private equity company Quadrivio sgr announced the first close of the fundraising for its third fund with 130 million euros raised on a 300 million euros target, MF Milano Finanza writes today.
The final close of the new fund of the private equity firm led by chairman Alessandro Binello and ceo Walter Ricciotti is expected by the end of this year.
Quadrivio Private Equity Fund 3 will invest with the same approach of Q2 fund that targets Italian companies with an enterprise value ranging from 30 to 100 million euros. Q2 fund already completed 9 investments and 5 divestments in the last 24 months cashing in 2.5x the invested capital and a 35% Irr. The fund had returned its investors about 90% of the capital invested in the last 5 years.
In 2015 Q2 fund sold its stake in the leading specialty vegetable and legume seed producer Suba Seeds to Paine&Partners US fund and its stake in Bimbo Store, a mums&kids wear and accessories retail chain to Giochi Preziosi, a leading toys producer and distributor in Italy.
Quadrivio is also active in the venture capital sector with its TTVenture fund which was quite active last year, It funded part of a capital increase in its portfolio company D-Orbit, an Italian startup specialized in removing space debirs; was part of the last funding round of biotech company Glomeria Therapeutics; and co-funded a new investment round in Directa Plus, one of the largest producers and suppliers of graphene-based products in the world. Finally last year TTVenture sold its stake in semiconductors maker Pilegrowth Tech to Sweden’s Ascatron in exchange of a stake in the capital Ascatron itself.
The third private equity fund is not the only fund managed by Quadrivio sgr which is raising capital right now. Tjhe privatre equity firm is also raising capital for its first private debt fund (already 70 million euros raised out of a 300 million euros target), its first renewable energy fund (raised 50 millions out of a 300 millions target), a private equity fund of funds (150 millions raised out of 200 millions) and TTVentures Due (target 100 millions).
Quadrivio sgr has 1.2 billion euros of assets undermanagement today and expectes to reach 1.7 billion euros by the end of the year. In the last 12 months the firm, thans to an investment team made of 45 professionals, closed 22 investments and 17 divestments in the different business areas.