Fondazione di Modena
Also known as Fondazione Cassa di Risparmio di Modena, Fondazione CRMO
Modena banking foundation; €1.16bn total investments at current value (end-2025); €116M of initial commitments to 24 closed-end PE, VC, private debt and infrastructure funds.
- HEADQUARTERS
- Modena, Italy
- FOUNDED
- —
- AUM
- €1.2B (2025)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 3 people
FOCUS
- STAGES
- GrowthBuyout
- SECTORS
- —
- ASSET MIX
- Private equityPrivate creditVenture capitalPublic equitiesReal estate
- GEOGRAPHY
- ItalyEurope
WHAT IT IS
Institutional LP. Pension funds, endowments, foundations and sovereign funds that commit capital to funds and, sometimes, directly.
ABOUT
Fondazione di Modena is the banking foundation that originated from Cassa di Risparmio di Modena. At the end of 2025 its investments were worth €1.16bn at current value, mostly held through the Montecuccoli Diversified Multi-Asset Fund and the Via Emilia Private Markets fund in a dedicated vehicle, plus listed and unlisted stakes. It also commits directly to Italian private equity, venture capital, private debt and infrastructure funds, and in 2025 incorporated the Ferrara-based Fondazione Estense.
PORTFOLIO (18)
- Fondo Via Emilia Private Markets (dedicated private-markets fund; €73.9M book value)since 2022
- Fondo TT Venture (€10M commitment)since 2008
- Fondo Italiano Private Equity Co-Investimenti (€3M commitment)since 2024
- Fondo Italiano Consolidamento e Crescita II (€2M commitment)since 2024
- FSI II (€3M commitment)since 2024
- Nextalia Capitale Rilancio (€5M commitment)since 2024
- Nextalia Flexible Capital (€3M commitment)since 2025
- Private Equity Opportunities Banco BPM (€2M commitment)since 2025
- Buy & Build Opportunities Riello (€2M commitment)since 2025
- Three Hills Impact (€3M commitment)since 2025
- Eureka! ETA I – Eureka! Venture SGR (search-fund vehicle; €1M commitment)since 2025
- Mobility & Digital Acceleration fund (€3.25M commitment)since 2021
- F2i European Infrastructure Debt Fund 1 (€5M commitment)since 2024
- Sosteneo Clean Energy Infrastructure Fund (€5M commitment)
- Carimonte Holding (59.96%)
- Cassa Depositi e Prestiti (0.253%)
- CDP Reti (15.473%)
- Wonderful Education S.r.l. (15%)
TEAM
LINKS
FAQ
Fondazione di Modena is a institutional investor based in Modena, Italy.
Yes. Fondazione di Modena invests directly in private companies. It also commits capital to third-party funds as an LP.
Fondazione di Modena invests at Growth and Buyout stages.
Key people at Fondazione di Modena include Matteo Tiezzi (President), Eleonora De Marco (Vice-President) and Luigi Benedetti (Director General).
Fondazione di Modena's investments include Fondo Via Emilia Private Markets (dedicated private-markets fund; €73.9M book value), Fondo TT Venture (€10M commitment), Fondo Italiano Private Equity Co-Investimenti (€3M commitment), Fondo Italiano Consolidamento e Crescita II (€2M commitment), FSI II (€3M commitment), Nextalia Capitale Rilancio (€5M commitment), Nextalia Flexible Capital (€3M commitment) and Private Equity Opportunities Banco BPM (€2M commitment), among others.
No. Fondazione di Modena invests its own capital and does not raise money from outside investors.