What investment strategy does First Capital focus on?

First Capital focuses on Growth strategies in the private equity space.

How many portfolio companies does First Capital have?

First Capital has 16 active portfolio companies and 3 completed exits and 1 fund tracked on GP Intel.

Where is First Capital headquartered?

First Capital is headquartered in Milan, Italy.

What is First Capital's assets under management?

First Capital manages approximately €107M in assets under management.

When was First Capital founded?

First Capital was founded in 2008.

What sectors does First Capital invest in?

First Capital invests across TMT, Industrials, Consumer, Financials, Energy, Healthcare.

Home/GPs/First Capital

First Capital

Milan, Italy·Founded 2008·

Growth Equity

·firstcapital.it

First Capital is an investment holding company listed on Euronext Growth Milan that specialises in Private Investments in Public Equity and private equity in small and mid-cap Italian companies. Founded in February 2008 by Vincenzo Polidoro and listed since December 2010, it takes active minority stakes in listed, pre-IPO and to-be-listed SMEs with a medium-to-long-term value-creation approach, and reported an audited net asset value of about 106.7 million euros at 31 December 2025.

AUM

€107M

Funds

vintages 2008

Portfolio

Exits

SectorsTMT Industrials Consumer Financials Energy Healthcare

Key facts

HQMilan, Italy

Founded2008

Websitefirstcapital.it

Recent exits

ALA

Aerospace & Defence2025 · 4yr hold

Labomar

Pharma2023 · 3yr hold

Net Insurance

Financials2023 · 5yr hold

Coverage notes

1 fund tracked, 19 portfolio companies (16 active · 3 realized). Verified weekly from public filings and deal announcements.

Sector breakdown

19 companies

Industrials

4 · 21%

Aerospace & Defence

2 · 11%

Consumer

2 · 11%

Energy

2 · 11%

Financials

2 · 11%

Telecom

2 · 11%

Cybersecurity

1 · 5%

Cloud Infrastructure

1 · 5%

Funds & portfolio

Every fund First Capital has raised, with its portfolio companies. Hand-checked from public filings.

1 fund

First CapitalGrowthActive

2008 · 18yr€107M16 active · 3 realized

Unrealized

16 held

Company	Sector	Geo	Entry
B&C Speakers	Industrials	Italy	2021
Bruno Generators Group	Industrials	Italy	2022
Cellularline	Consumer	Italy	2018
Cy4Gate	Cybersecurity	Italy	2020
DHH	Cloud Infrastructure	Italy	2021
ErreDue	Energy	Italy	2024
Generalfinance	Financials	Italy	2022
Industrie Chimiche Forestali	Industrials	Italy	2020
Intred	Telecom	Italy	2018
Lab Investments	Healthcare	Italy	2021
Lindbergh	Software	Italy	2024
Magis	Industrials	Italy	2022
Next Geosolutions	Energy	Italy	2024
Orsero	Consumer	Italy	2018
TPS Group	Aerospace & Defence	Italy	2018
Unidata	Telecom	Italy	2020