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First Capital

First Capital

Milan, Italy·Founded 2008··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
1
vintages 2008
Portfolio
16
Exits
3
SectorsTMTIndustrialsConsumerFinancialsEnergyHealthcare

Key facts

HQMilan, Italy
Founded2008

Recent exits

ALA
Aerospace & Defence · 2025 · 4yr hold
Labomar
Healthcare · 2023 · 3yr hold
Net Insurance
Financials · 2023 · 5yr hold

Coverage notes

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

Funds & portfolio

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

1 fund
First CapitalGrowth
2008 · 18yr€107M16 active · 3 realized

Unrealized

16 held
IndustrialsItaly· Entry 2021
IndustrialsItaly· Entry 2022
ConsumerItaly· Entry 2018
Cy4GateActive
CybersecurityItaly· Entry 2020
DHHActive
Cloud InfrastructureItaly· Entry 2021
ErreDueActive
EnergyItaly· Entry 2024
FinancialsItaly· Entry 2022
IndustrialsItaly· Entry 2020
IntredActive
TelecomItaly· Entry 2018
HealthcareItaly· Entry 2021
LindberghActive
SoftwareItaly· Entry 2024
MagisActive
IndustrialsItaly· Entry 2022
EnergyItaly· Entry 2024
OrseroActive
ConsumerItaly· Entry 2018
TPS GroupActive
Aerospace & DefenceItaly· Entry 2018
UnidataActive
TelecomItaly· Entry 2020

Realized

3 exits
ALAExited 2025
Aerospace & DefenceItaly· Entry 2021
Secondaryto
LabomarExited 2023
HealthcareItaly· Entry 2020
Secondaryto
Net InsuranceExited 2023
FinancialsItaly· Entry 2018
Trade Saleto
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Investment team

Senior partners. Hand-checked from public filings and the firm's own site.

Vincenzo Polidoro
Founder & CEO
Last updated July 2026 · Sourced from public filings