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Single Family OfficeAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 6 SOURCES

LMDV Capital

Also known as LMDV Capital S.r.l., Lmdv Capital

Milan single-family office fully backed by Leonardo Maria Del Vecchio; invests directly in Italian companies and indirectly in VC, growth, PE and hedge funds.

USEFUL FOR Fund managers raising capital · Founders · Business owners seeking a long-term partner · Co-investors

Family office of Leonardo Maria Del Vecchio (Milan). Distinct from Delfin S.à r.l., the Del Vecchio family holding that controls the EssilorLuxottica stake.

Family & background

FAMILY
Del Vecchio
WEALTH ORIGIN
Luxottica / EssilorLuxottica (eyewear)
HEADQUARTERS
Milan, Italy
OUTSIDE CAPITAL
No — own capital only

Investment approach

SECTORS
Consumer & E-commerceFood & AgricultureMedia & EntertainmentReal Estate & PropTechDeep Tech
GEOGRAPHY
EuropeNorth America
STAGES
SeedGrowthBuyout
ROUTES
Direct investments · Funds (as LP)
STRATEGIES
Direct investmentsVenture capitalPrivate equityHedge funds
LATEST DEAL
EN – Editoriale Nazionale (QN, Il Resto del Carlino, La Nazione, Il Giorno) (Acquisition of 80% from Gruppo Monrif (closing, via LMDV Media)) · May 2026

Overview

LMDV Capital S.r.l. describes itself as an Italian single-family office headquartered in Milan, fully backed by Leonardo Maria Del Vecchio, shareholder of EssilorLuxottica. It makes direct investments in Italian companies (hospitality, food, media, cinema, fashion, preventive medicine, AI) and indirect investments in venture and growth capital, private equity and hedge funds, with a focus on Europe and North America. Press-reported holdings include 71.17% of Acqua e Terme Fiuggi (2024), ESA NanoTech (graphene), 30% of Il Giornale (December 2025) and, since May 2026, 80% of the newspaper publisher Editoriale Nazionale. In June 2026 Lorenzo Calì became CEO and Del Vecchio Executive Chairman.

Holdings & investments (4)

  • EN – Editoriale NazionaleNOTABLE
    Media & Entertainment · since 2026 · Majority stake (80%)
  • ESA NanoTechNOTABLE
    Deep Tech
  • Acqua e Terme FiuggiNOTABLE
    Food & Agriculture · since 2024
  • Il Giornale
    Media & Entertainment · since 2025 · Minority stake (30%)

People

  • Leonardo Maria Del Vecchio
    Founder and Executive Chairman · source
  • Lorenzo Calì
    Chief Executive Officer (from June 2026) · source
  • Gabriele Benedetto
    Vice Chairman (finance and external communication) · source
  • Marco Talarico
    Senior Advisor for financial operations · source

Classification

Single Family Office. Manages one family's own capital, with no outside investors. The family bears every loss. How family capital is classified →

FAQ

LMDV Capital is a single family office based in Milan, Italy.

LMDV Capital invests on behalf of the Del Vecchio family (Luxottica / EssilorLuxottica (eyewear)).

LMDV Capital invests directly in companies and in third-party funds as an LP. Its stated asset mix includes direct investments, venture capital, private equity and hedge funds.

LMDV Capital invests at Seed, Growth and Buyout stages in Consumer & E-commerce, Food & Agriculture, Media & Entertainment, Real Estate & PropTech and Deep Tech.

Key people at LMDV Capital include Leonardo Maria Del Vecchio (Founder and Executive Chairman), Lorenzo Calì (Chief Executive Officer (from June 2026)), Gabriele Benedetto (Vice Chairman (finance and external communication)) and Marco Talarico (Senior Advisor for financial operations).

LMDV Capital's holdings and investments include EN – Editoriale Nazionale, ESA NanoTech, Acqua e Terme Fiuggi and Il Giornale.

The most recent publicly reported investment by LMDV Capital is EN – Editoriale Nazionale (QN, Il Resto del Carlino, La Nazione, Il Giorno) (Acquisition of 80% from Gruppo Monrif (closing, via LMDV Media)), announced in May 2026.

No. LMDV Capital invests its own capital and does not raise money from outside investors.