The European Investment Fund (EIF), part of the EIB Group, has committed to invest up to €20 million in the DaVinci Growth Capital Fund, a private equity vehicle targeting the small-cap growth segment in Italy. The fund results from a collaboration between RedFish Capital Partners and Alternative Capital Partners SGR (ACP) and is designed to support innovative Italian small and medium-sized enterprises (SMEs) in digital technology, industrial technology, and life sciences and health sectors. The financing is backed by InvestEU and benefits from the European Scale-up Action for Risk Capital (ESCALAR), an EU initiative aimed at attracting private capital by improving the risk-return profile of growth investments.
Established in late 2025, the DaVinci Growth Capital Fund targets a total size of €80 million, with a hard cap of €100 million. Investments will focus on growth-phase Italian companies with strong financial profiles and EBITDA between €1 million and €4 million, primarily through majority shareholdings. The fund expects a net internal rate of return exceeding 20%, combining operational value creation, strengthened governance, and buy-and-build strategies. Its portfolio is expected to contribute around 70% to innovation objectives and 15% to environmental sustainability goals.
The fund has already secured commitments from primary institutional investors, and additional participants are undergoing due diligence. The EIF’s investment acts as an anchor, catalyzing the fund-raising process and supporting the first closing. Previous operations by the fund management team have shown strong results, including revenue growth, EBITDA improvements, and job creation, highlighting the growth and professionalization potential of the SMEs targeted.
Through this investment, the EIF and ACP aim to strengthen governance, protect investors, and support the launch of a new family of private equity products in Italy. The use of the InvestEU guarantee and ESCALAR instrument enhances the fund’s ability to mobilize additional private capital, reinforcing its mission to drive the growth and digital transition of innovative Italian companies.
This operation demonstrates the EIB Group’s strategic role in mobilizing EU resources toward key economic objectives, supporting the competitiveness of the Italian production system, and fostering the development of high-potential SMEs across Italy.
