Progressio raises €86m

The Italian mid-market specialist continues to target its core markets with latest fund.

Progressio Investimenti III, which has a target size of €225 million, has held a first close at €86 million. Progressio will continue to pursue investments of €25m to €30m in Italy, across fashion & luxury, chemical & pharmaceuticals, industrials and food & beverage through its latest vehicle. A final close is expected in 2018.

Half of the capital raised for Progressio Investimenti III so far, was collected from existing investors in the predecessor-vehicle.

The placement agent for the fundraise is Cebile Capital.