Alternative Capital Partners SGR
Sole shareholder; exercises direction and coordination ACP Holding S.r.l.
Also known as Alternative Capital Partners SGR S.p.A., ALTERNATIVE CAPITAL PARTNERS SGR SPA, ACP SGR, Acp Sgr
Milan ESG-focused alternative SGR (albo FIA and EuVECA register); Article 9 energy-transition infrastructure fund (EIB anchor), STEP seed VC fund and DaVinci Growth Capital Fund.
- HEADQUARTERS
- Milan, Italy
- FOUNDED
- —
- AUM
- —
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 7 people
FOCUS
- STAGES
- Pre-SeedSeedGrowth
- ASSET MIX
- Private equityVenture capitalPrivate creditImpact
- GEOGRAPHY
- Italy
WHAT IT IS
Private Equity Fund. A fund manager investing limited-partner capital into mature private companies.
- EuVECA seed fund managed by the SGR, advised by Step Venture S.r.l.
ABOUT
Alternative Capital Partners SGR is a Milan asset management company, wholly owned by ACP Holding S.r.l., that designs and manages closed-end alternative investment funds with environmental and real-economy impact. Its Sustainable Securities Fund, an Article 9 fund anchored by the European Investment Bank, invests in small and mid-sized Italian energy-transition infrastructure through green project bonds, mezzanine, ABS and equity, including 49% joint ventures with developers (Ilios Impact, SB Impact). In 2025 it joined the EuVECA register and partnered with Step Venture to manage the STEP seed fund, and it manages the DaVinci Growth Capital Fund created with RedFish Capital Partners, in which the EIF committed up to €20m in March 2026. An earlier supply-chain-finance fund, SMes Alternative Credit Fund, is in liquidation.
INVESTMENT THESIS
Closed-end AIFs integrating ESG in investment processes: small/mid-size renewables, energy efficiency, storage and biomethane in Italy (Sustainable Securities Fund, PIR-alternative compliant, equity/mezzanine/green project bonds/ABS); seed-stage digital startups (STEP Fund); growth capital for innovative Italian SMEs (DaVinci Growth Capital Fund).
PORTFOLIO (8)
- Bia Power ItaliaClimate & Energy · since 2025
- Cogefeed (photovoltaic JV)Climate & Energy · since 2025
- Energethica FavriaClimate & Energy · since 2025
- Ilios ImpactClimate & Energy · since 2024
- SB Impact (Solterra JV)Climate & Energy · since 2024
- Robin HealthHealthTech · since 2026
- SmartwageFintech · since 2026
- Health ForceHealthTech · since 2026
TEAM
- Emanuele OttinaCEO; Head of Business Development & Fund Raising · source
- Valentina ZadraChair · source
- Evarist GranataManaging Director – Energy Infrastructure · source
- Michele NovelliManaging Director Venture Capital; Partner Step Venture · source
- Piero AtellaHead of Infrastructure · source
- Alexandro AlùChief Financial Officer · source
- Giovanni PutignanoInvestment Manager, Sustainable Securities Fund · source
LINKS
FAQ
Alternative Capital Partners SGR is a private equity fund based in Milan, Italy.
Yes. Alternative Capital Partners SGR invests directly in private companies.
Alternative Capital Partners SGR invests at Pre-Seed, Seed and Growth stages in Climate & Energy, HealthTech, Fintech and Software & SaaS.
Key people at Alternative Capital Partners SGR include Emanuele Ottina (CEO; Head of Business Development & Fund Raising), Valentina Zadra (Chair), Evarist Granata (Managing Director – Energy Infrastructure) and Michele Novelli (Managing Director Venture Capital; Partner Step Venture).
Alternative Capital Partners SGR's investments include Bia Power Italia, Cogefeed (photovoltaic JV), Energethica Favria, Ilios Impact, SB Impact (Solterra JV), Robin Health, Smartwage and Health Force.
The most recent publicly reported investment by Alternative Capital Partners SGR is Health Force (Seed (€4.2M, with LUMO Labs, Target Global, Calm/Storm Ventures, Next Tier Ventures and STEP Fund)), announced in Sep 2026.
Yes. Alternative Capital Partners SGR manages capital from outside investors.