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Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 19 SOURCES

Ethica Global Investments

Investment holding promoted by Ethica Group (Ethica Holding S.p.A.)

Also known as EGI, Ethica Global Investments S.p.A.

Milan permanent-capital investment holding (2018) promoted by advisory firm Ethica Group, pooling EUR 120M from Italian entrepreneurs and managers for majority or minority stakes in SMEs.

HEADQUARTERS
Milan, Italy
FOUNDED
2018
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
5 people

Focus

STAGES
GrowthBuyout
SECTORS
Industrial & ManufacturingConsumer & E-commerceHealthTechClimate & Energy
ASSET MIX
Private equityDirect investments
GEOGRAPHY
Italy

Overview

Ethica Global Investments S.p.A. is the investment holding of Ethica Group, the Milan M&A and debt advisory group that started as Ethica Corporate Finance in 2010. Set up in 2018, it has EUR 120 million of permanent capital contributed by a pool of Italian entrepreneurs and managers, used to take majority or minority stakes in Italian SMEs with a medium-to-long-term horizon. It builds sector platforms through add-on acquisitions, such as Decorluxe in high-end packaging, Filidarte Group in yarns, RP Group in aesthetic medicine and WeBlade in turbine blades, which it sold to IGI Private Equity in July 2026. Ethica Group reports 18 portfolio companies with about EUR 250 million of consolidated revenue.

Investment thesis

Majority or minority stakes in Italian SMEs alongside entrepreneurs and managers, held as a permanent holding with a medium-to-long-term partnership and buy-and-build platforms.

PORTFOLIO (14)

  • DecorluxeNOTABLE
    Industrial & Manufacturing · since 2023
  • Filidarte GroupNOTABLE
    Consumer & E-commerce · since 2023
  • WeBladeNOTABLE
    Climate & Energy · since 2024 · Exited (sold to IGI Private Equity, 2026)
  • RP Group (Regenyal Laboratories, Phitogen)
    HealthTech · since 2024
  • Seventy BG
    HealthTech · since 2025
  • ISSCO
    Industrial & Manufacturing · since 2025
  • Servizi e Seta
    Consumer & E-commerce · since 2025
  • Sil Fim
    Consumer & E-commerce · since 2021
  • Fabita Technology
    Consumer & E-commerce · since 2025
  • Manifattura Sesia
    Consumer & E-commerce · since 2022
  • V.M.C. Mottini
    Industrial & Manufacturing · since 2022
  • ParkinGO
    Mobility & Logistics · Exited (sold to 21 Invest, 2025)
  • Gruppo GIA
    Industrial & Manufacturing · Exited (sold to DiversiTech, 2023)
  • Ideal
    Consumer & E-commerce · Exited (sold to Visottica Group, 2023)

People

  • Cosimo Vitola
    Partner, Ethica Group · source
  • Fausto Rinallo
    Partner, Ethica Group · source
  • Ruggero Jenna
    Partner, Equity Investments · source
  • Francesco Sala
    Partner, Equity Investments · source
  • Nicola De Biase
    Equity Investments · source

Links

Frequently asked questions

Ethica Global Investments is a private equity fund based in Milan, Italy, founded in 2018.

Yes. Ethica Global Investments invests its own capital in private companies.

Ethica Global Investments invests at Growth and Buyout stages in Industrial & Manufacturing, Consumer & E-commerce, HealthTech and Climate & Energy.

Key people at Ethica Global Investments include Cosimo Vitola (Partner, Ethica Group), Fausto Rinallo (Partner, Ethica Group), Ruggero Jenna (Partner, Equity Investments) and Francesco Sala (Partner, Equity Investments).

Ethica Global Investments's investments include Decorluxe, Filidarte Group, WeBlade, RP Group (Regenyal Laboratories, Phitogen), Seventy BG, ISSCO, Servizi e Seta and Sil Fim, among others.

The most recent publicly reported investment by Ethica Global Investments is Seventy BG (70% acquired by portfolio company RP Group (add-on)), announced in Nov 2025.

Yes. Ethica Global Investments manages capital from outside investors.