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Mindful Capital Partners

Mindful Capital Partners

Milan, Italy·Founded 2007··mcpinvest.com

Mindful Capital Partners (MCP), formerly Mandarin Capital Partners until an April 2022 rebrand, is an independent private equity firm founded in 2007 with offices in Milan and Luxembourg (historically also Frankfurt and Shanghai). It runs mid-market buyout and growth funds investing EUR 10-30 million of equity in Italian and German-speaking SMEs with revenues of roughly EUR 40-300 million, historically with a Euro-Chinese cross-border angle led by co-founders Alberto Forchielli and Zhen Gao. The firm favours management buy-outs, buy-and-build platforms and internationalization, having deployed four fund generations (MCP I-IV). Firm-wide AUM is around EUR 770 million per Mergr.

AUM
€770M
Funds
4
vintages 2007–2023
Portfolio
9
Exits
15
SectorsIndustrialsConsumerHealthcare

Key facts

HQMilan, Italy
Founded2007

Recent exits

Italcer
Industrials · 2026 · 9yr hold
Eurmoda
Consumer · 2025 · 6yr hold
Mipharm
Pharma · 2022 · 6yr hold
Hydro Holding
Industrials · 2018 · 3yr hold

Coverage notes

4 funds tracked, 24 portfolio companies (9 active · 15 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

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

4 funds
Mindful Capital Partners IVBuyout
2023 · 3yr1 active

Unrealized

1 held
IndustrialsItaly· Entry 2023
Mindful Capital Partners IIIBuyout
2019 · 7yr€227M7 active · 1 realized

Unrealized

7 held
ConsumerItaly· Entry 2019
CrociActive
ConsumerItaly· Entry 2021
SelematicActive
IndustrialsItaly· Entry 2021
SidamActive
MedTechItaly· Entry 2020
SkinativeActive
ConsumerGermany· Entry 2020
WaicoActive
IndustrialsItaly· Entry 2021
YmensoActive
ConsumerItaly· Entry 2020

Realized

1 exit
EurmodaExited 2025
ConsumerItaly· Entry 2019
Secondaryto
Mandarin Capital Partners IIBuyout
2013 · 13yr€195M1 active · 6 realized

Unrealized

1 held
ConsumerItaly· Entry 2018

Realized

6 exits
Hydro HoldingExited 2018
IndustrialsItaly· Entry 2015
Secondaryto
IndustrialsItaly· Entry 2014
IPO
ItalcerExited 2026
IndustrialsItaly· Entry 2017
Trade Saleto
IndustrialsItaly· Entry 2016
Trade Saleto
MarvalExited 2018
IndustrialsItaly· Entry 2016
Secondaryto
MipharmExited 2022
PharmaItaly· Entry 2016
Secondaryto
Mandarin Capital Partners IBuyout
2007 · 19yr€328M0 active · 8 realized

Realized

8 exits
CifaExited 2013
IndustrialsItaly· Entry 2008
Trade Saleto
DedalusExited 2016
HealthTechItaly· Entry 2010
Secondaryto
EuticalsExited 2012
PharmaItaly· Entry 2008
Secondaryto
IndustrialsItaly· Entry 2008
Trade Saleto
GVSExited 2014
IndustrialsItaly· Entry 2011
MBO
IMAExited 2013
IndustrialsItaly· Entry 2009
IndustrialsItaly· Entry 2010
Secondaryto
Tianma TianjiExited 2015
PharmaChina· Entry 2010
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Last updated July 2026 · Sourced from public filings