Gradiente raises €135m

The Italian firm closes second fund at hard-cap.

Gradiente has held a final close for its second fund, Gradiente II, at its €135 million hard-cap. The target was originally set at €120 million and a first close was held in 2017 at €60 million. The fund pursues investments in export-oriented businesses in the Italian lower mid-market, continuing the successful strategy of its predecessor.

Gradiente I held a final close in 2012 at €76 million.

The European Investment Fund is one of the limited partners committed to fund II.

Elm Capital provided exclusive placement agent services.