Progressio SGR
Also known as Progressio, Progressio SGR S.p.A.
Independent Milan private equity SGR founded in 2005 and wholly owned by its management; invests in Italian mid-market SMEs through the Progressio Investimenti funds (PI IV: €335M).
- HEADQUARTERS
- Milan, Italy
- FOUNDED
- 2005
- AUM
- —
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 10 people
Focus
- STAGES
- GrowthBuyout
- ASSET MIX
- Private equityDirect investments
- GEOGRAPHY
- Italy
Overview
Progressio SGR is an independent private equity firm founded in 2005 and wholly owned by its management team. It has managed four institutional funds investing in Italian SMEs in sectors such as lifestyle, digital, mechanics, food & beverage and healthcare, with a hands-on industrial approach covering managerialisation, organic growth, M&A and digital and sustainability transition. Its fourth fund, Progressio Investimenti IV, closed in July 2025 at €335 million, above its €300 million target, with commitments from funds of funds, banks, pension funds, casse di previdenza, entrepreneurs and family offices.
Investment thesis
Italian SMEs with distinctive and defensible market positions (recognised brands, proprietary know-how, unique technologies, high value-added products) and growth potential, with an increasing focus on digital themes and ESG.
PORTFOLIO (24)
- SpindoxNOTABLESoftware & SaaS · since 2025
- Save The DuckNOTABLEConsumer & E-commerce · Exited
- GiorgettiNOTABLEConsumer & E-commerce · Exited (2025)
- MonclerNOTABLEConsumer & E-commerce · Exited
- Archiva GroupSoftware & SaaS
- Sangiacomo PresseIndustrial & Manufacturing
- DamianoFood & Agriculture
- GampackIndustrial & Manufacturing
- ATK SportsConsumer & E-commerce · Exited (2026)
- Polenghi FoodFood & Agriculture · Exited (2026)
- Assist DigitalSoftware & SaaS · Exited
- InterniConsumer & E-commerce · Exited
- GelitFood & Agriculture · Exited
- GardaplastIndustrial & Manufacturing · Exited
- Industrie Chimiche ForestaliIndustrial & Manufacturing · Exited
- ItalchimiciHealthTech · Exited
- Duplomatic OleodinamicaIndustrial & Manufacturing · Exited
- Gens AureaExited
- Jal GroupExited
- ChromavisConsumer & E-commerce · Exited
- CLX EuropeExited
- MutuiplanetFintech · Exited
- RondineExited
- PublimethodExited
People
- Filippo GagginiManaging Partner · source
- Angelo Piero La RunaSenior Partner · source
- Nino MascellaroSenior Partner · source
- Alessandro PetracciaSenior Partner · source
- Massimo DanPartner · source
- Simone AssanelliInvestment Director · source
- Giovanni PesceInvestment Director · source
- Mauro BallabioOperating Partner · source
- Beatrice CaprettiPartner IR & ESG Strategy · source
- Nicola CarboneCFO · source
Links
Frequently asked questions
Progressio SGR is a private equity fund based in Milan, Italy, founded in 2005.
Yes. Progressio SGR invests its own capital in private companies.
Progressio SGR invests at Growth and Buyout stages in Consumer & E-commerce, Industrial & Manufacturing, Software & SaaS, Food & Agriculture and HealthTech.
Progressio SGR's stated ticket size is €15M–€50M.
Key people at Progressio SGR include Filippo Gaggini (Managing Partner), Angelo Piero La Runa (Senior Partner), Nino Mascellaro (Senior Partner) and Alessandro Petraccia (Senior Partner).
Progressio SGR's investments include Spindox, Save The Duck, Giorgetti, Moncler, Archiva Group, Sangiacomo Presse, Damiano and Gampack, among others.
The most recent publicly reported investment by Progressio SGR is Spindox (74.12% acquisition followed by mandatory tender offer (Progressio Investimenti IV)), announced in Oct 2025.
Yes. Progressio SGR manages capital from outside investors.