Where we invest

FSI focuses its investments on Italian mid-sized and large companies, the backbone of the country’s industrial fabric, with a strategic focus on three key verticals: technology, life sciences and Italy’s distinctive supply chains of excellence. These are sectors characterised by high research and development intensity, qualified employment impact and strong dynamics of structural growth and consolidation.

Italy is home to approximately nine thousand family-owned mid-sized enterprises that have built high-quality products and earned leadership positions in their respective markets. Of these, only 10% have opened their capital to an institutional investor or to the stock market, a percentage that is growing but still significantly lower than in other major European countries. The remaining 90% represents a pool of entrepreneurial excellence that, for the first time, can find in FSI’s Partnership formula the most suitable path to pursue a transformational growth trajectory.

Over fifteen years, the FSI team has invested more than three billion euros in twenty-five companies, completing over fifty acquisitions and delivering average revenue growth in excess of 20% per annum and EBITDA growth of 25% per annum during the holding period. These results confirm that investing in the dimensional and transformational growth of Italian companies, without burdening them with debt, generates solid and lasting value for entrepreneurial partners, investors and the broader Italian economy.

To serve the full spectrum of Italian mid-market enterprises, FSI manages two complementary fund strategies, united by the same Partnership investment formula. The flagship funds, FSI I (€1.4 billion) and FSI II (€1.6 billion), target the mid-market. FSI Scale-up Capital Solutions, currently in fundraising, extends FSI’s formula to the lower mid-market.