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Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 7 SOURCES

Arcadia SGR

Also known as Arcadia SGR S.p.A., ARCADIA SGR S.P.A.

Milan independent, management-controlled private equity SGR (authorised 2009) taking control or qualified minority stakes in unlisted Italian SMEs with €10–50m revenue; third fund closed at €105m.

HEADQUARTERS
Milan, Italy
FOUNDED
2009
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
8 people

Focus

STAGES
GrowthBuyout
SECTORS
Industrial & ManufacturingConsumer & E-commerceFood & AgricultureHealthTech
ASSET MIX
Private equity
GEOGRAPHY
Italy

Overview

Arcadia SGR is an independent, management-controlled private equity manager based in Milan, authorised as an SGR in 2009. It takes control and qualified minority stakes in unlisted Italian SMEs with €10–50m of revenue that face shareholder succession or need growth capital, managing them with a holding-company style through board seats. It has raised Arcadia Small Cap (2012), Arcadia Small Cap II (2017) and Arcadia Sustainable Capital III (2023, SFDR Article 8, final close €105m in October 2025), with the European Investment Fund among investors in all three.

Investment thesis

Unlisted Italian SMEs with €10–50m revenue, a profitable track record and clear organic or acquisitive growth prospects, in sectors without high technological obsolescence, with an exit strategy identified at entry; value creation through strategic focus, scale and professionalised management, with ESG factors in selection and ownership.

PORTFOLIO (13)

  • E-MAC
    Industrial & Manufacturing · since 2025
  • KEP Italia
    Consumer & E-commerce · since 2023
  • KFL EST
    Industrial & Manufacturing · since 2022
  • CBS.EST
    Industrial & Manufacturing · since 2022
  • EMC Colosio
    Industrial & Manufacturing · since 2021
  • Starlaks Italia
    Food & Agriculture · since 2021
  • Favillini Pharmaceutical Packaging Group
    Industrial & Manufacturing · since 2020
  • Chiorino Technology
    Industrial & Manufacturing · since 2018
  • Vision Group
    since 2014 · Exited (Aug 2024)
  • Castello Italia
    since 2018 · Exited
  • Lisapharma
    HealthTech · since 2015 · Exited
  • h-old
    Industrial & Manufacturing · since 2015 · Exited
  • VSP Fasteners
    Industrial & Manufacturing · since 2013 · Exited

People

  • Guido Belli
    Partner, Presidente del Consiglio di Amministrazione · source
  • Simone Arnaboldi
    Managing Partner, Amministratore Delegato · source
  • Luca Maria Ravano
    Managing Partner, Amministratore Delegato · source
  • Giovanni Barbujani
    Partner · source
  • Stefano Piras
    Partner · source
  • Riccardo Tura
    Investment Manager · source
  • Rosanna Saracino
    CFO · source
  • Simona Quaglia
    Investor Relations & ESG Manager · source

Links

Frequently asked questions

Arcadia SGR is a private equity fund based in Milan, Italy, founded in 2009.

Yes. Arcadia SGR invests its own capital in private companies.

Arcadia SGR invests at Growth and Buyout stages in Industrial & Manufacturing, Consumer & E-commerce, Food & Agriculture and HealthTech.

Key people at Arcadia SGR include Guido Belli (Partner, Presidente del Consiglio di Amministrazione), Simone Arnaboldi (Managing Partner, Amministratore Delegato), Luca Maria Ravano (Managing Partner, Amministratore Delegato) and Giovanni Barbujani (Partner).

Arcadia SGR's investments include E-MAC, KEP Italia, KFL EST, CBS.EST, EMC Colosio, Starlaks Italia, Favillini Pharmaceutical Packaging Group and Chiorino Technology, among others.

The most recent publicly reported investment by Arcadia SGR is E-MAC (Leveraged buy-out (30% stake, Arcadia Sustainable Capital III)), announced in Jul 2025.

Yes. Arcadia SGR manages capital from outside investors.