The Italian branch of 21 Partners has received total commitments of EUR343 million for 21 Investimenti III, surpassing the initial objective of EUR300 million and reaching the fund’s hard cap.
21 Investimenti III received strong support from existing institutional investors as well as key new relationships, both in Europe and the US. More than half of the capital was raised outside of Italy.
The Fund has already completed two investments in SIFI, an Italian leader of innovative pharmaceutical treatments, instruments and equipment for eye care and Poligof, a European leader in backsheet film for hygienic disposable products.
21 Partners is pleased with the strong support demonstrated by both existing and new investors. The high level of demand reflects the leadership position in the Italian mid-market based on a 24-year strong track record, a unique organization combining local expertise with institutional standards and a differentiated approach for creating value in the mid-market.
Faithful to the strategy of predecessor funds, 21 Investimenti III will focus on control growth investments in Italian SMEs with enterprise values ranging from EUR50-200 million. The Fund employs a highly selective investment approach, targeting companies with a strong positioning in attractive markets and compelling perspectives for growth, partnering with like-minded entrepreneurial management teams on the basis of a common vision.
Since its creation in 1992, 21 Investimenti has invested in 37 companies and exited 27. With 21 professionals working from offices in Treviso and Milan, it boasts one of the largest and most experienced teams dedicated to the Italian market.
The final closing of 21 Investimenti III comes shortly after 21 Partners’ Polish branch, 21 Concordia, closed its debut fund reaching its EUR100 objective. In France, 21 Centrale Partners is launching Fund V having recently completed the investment program of 21 Centrale Partners IV with the acquisition of Impact, the French independent leader in operational marketing.
