Skip to content
Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 11 SOURCES

Gradiente SGR

Also known as Gradiente SGR S.p.A., Gradiente

Padova private equity manager (SGR) making majority and qualified-minority buyout investments in Italian SMEs; its third fund, Gradiente III, closed above its €180M target in January 2026.

HEADQUARTERS
Padova, Italy
FOUNDED
2009
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
9 people

Focus

STAGES
Buyout
SECTORS
Industrial & ManufacturingConsumer & E-commerce
ASSET MIX
Private equity
GEOGRAPHY
Italy

Overview

Gradiente SGR is a Padova-based private equity management company founded in 2009 on the initiative of its team and Italian banking foundations. It invests €10–20M per deal in profitable Italian companies with €10–50M of revenue in any industrial sector, taking majority or qualified minority stakes; it does not do turnarounds or venture capital. Its funds are Gradiente I, Gradiente II (final close at its €135M hard cap) and Gradiente III, which held its final close above its €180M target on 16 January 2026 with European and US institutional investors including public pension funds, foundations, funds of funds and banks.

Investment thesis

Buyouts of Italian niche SMEs (€10–50M revenue) that are profitable and operate in sectors with growth potential or can serve as consolidation platforms; partnership with entrepreneurs or management on a medium-to-long-term industrial plan, with board representation; no turnarounds, restructurings or venture capital.

PORTFOLIO (18)

  • Argos Surface TechnologiesNOTABLE
    Industrial & Manufacturing · since 2020 · Majority sold to EMK Capital (2025); minority retained via Gradiente III
  • Veneziani & Co. (Outly)
    Consumer & E-commerce · since 2025
  • Bamboom
  • Hawai Italia
  • Cromoplastica C.M.C.
    Industrial & Manufacturing
  • DF Elettronica
    Industrial & Manufacturing
  • Zafferano
  • Giuriati Group
  • FiloBlu
    Software & SaaS · since 2021
  • Arcansas Profili
    Industrial & Manufacturing · since 2020
  • Dierre Group
    Industrial & Manufacturing · Exited
  • Cadicagroup
    Exited
  • Coldline
    Industrial & Manufacturing · Exited
  • TR Alucap
  • Buona Compagnia Gourmet
    Food & Agriculture
  • Lanificio dell’Olivo
  • Spiller
  • Tapì

People

  • Pietro Busnardo
    Founder & Managing Partner · source
  • Carlo Bortolozzo
    Founding Partner · source
  • Fabrizio Grasso
    Partner · source
  • Lorena Lorenzon
    Partner · source
  • Stefania Lotto
    Investment Manager · source
  • Alberto Calgaro
    Investment Manager · source
  • Marika Savegnago
    Investment Manager · source
  • Massimiliano Doria
    Associate · source
  • Lara Farina
    CFO · source

Links

Frequently asked questions

Gradiente SGR is a private equity fund based in Padova, Italy, founded in 2009.

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

Gradiente SGR invests at Buyout stage in Industrial & Manufacturing and Consumer & E-commerce.

Gradiente SGR's stated ticket size is €10M–€20M.

Key people at Gradiente SGR include Pietro Busnardo (Founder & Managing Partner), Carlo Bortolozzo (Founding Partner), Fabrizio Grasso (Partner) and Lorena Lorenzon (Partner).

Gradiente SGR's investments include Argos Surface Technologies, Veneziani & Co. (Outly), Bamboom, Hawai Italia, Cromoplastica C.M.C., DF Elettronica, Zafferano and Giuriati Group, among others.

The most recent publicly reported investment by Gradiente SGR is Veneziani & Co. (Outly) (Buyout (Gradiente III)), announced in Dec 2025.

Yes. Gradiente SGR manages capital from outside investors.