Metrika SGR

What Metrika SGR does

Metrika SGR S.p.A. is an independent Italian private equity fund manager founded in 2019 and headquartered in Milan, authorized by Banca d'Italia and registered in the Albo delle SGR (no. 173). The firm operates a multi-strategy investment platform comprising the Metrika Fund (Industry), which acquires majority stakes in Italian industrial SMEs with €20–100M of revenue across mechanics, precision mechanics, packaging, industrial components, cosmetics, pharmaceutical chemistry, life sciences, and food; the Metrika Tech Fund, targeting established software companies with €5–50M in revenue serving industrial clients; and a Secondary Strategy that acquires discounted interests in mature PE portfolios. Active portfolio companies include Allegrini, Robor, Proterm, CMC, Sefo, Alimac, Agliati, Advice Group, Abissi, and Consys.

Metrika generates revenue through two streams: recurring management fees on assets under management across its funds, and performance-based carried interest realized upon successful exits. The platform is supported by a lean team of ~14 professionals and a network of seasoned advisors, with key service providers including Societe Generale (depositary), Deloitte (external audit), and Refink (compliance). Fundraising is conducted through direct institutional relationships with international family offices, pension funds, and institutional investors. Cumulative AUM exceeds €500M, anchored by the €150M first fund (closed December 2021 at hard cap with €200M in subscriptions) and ~€40M in the technology vehicle.

The firm's investment approach emphasizes buy-and-build internationalization, operational enhancement, and active support for founder-led succession. Realizations to date include the exit of QiNet to Impresoft/Clessidra (2023) and a partial exit from Alimac to a consortium led by Amundi SGR with NRC Capital Partners and Azimut (2025), with Metrika reinvesting as a minority shareholder.

Name

Metrika SGR

Legal name

Metrika SGR S.p.A.

Website

https://metrikasgr.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Metrika SGR is an independent Italian private equity fund manager (founded 2019, Milan) operating three strategies — Industry, Technology, and Secondary — investing in Italian industrial SMEs and software companies, with €500M+ AUM.

Ownership category

akta.pro rank

Product category

Private Equity Fund Management

NAICS

Miscellaneous Financial Investment Activities (523999)

SIC

Investors, Nec (6799)

akta.pro primary industry

Thematic / Sector-Focused Multi-Manager Platforms (FSANAGAH)

Keywords

• Private equity funds
• Italian SME investments
• Industrial transformation
• Buy-and-build strategies
• Fund management services

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Fund Management Fees: Management fees charged on assets under management as a Private Equity Fund Manager authorized by Banca d'Italia. Metrika SGR is registered in the Albo delle SGR at number 173.
2. Carried Interest: Performance-based carried interest from successful portfolio company exits, aligning fund manager interests with investor returns.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Metrika SGR is an independent Italian private equity fund manager authorized by Banca d'Italia that raises and manages closed-end investment funds targeting majority or qualified minority stakes in Italian SMEs. Its core offering comprises three strategies — Industry (industrial SMEs with €20–100M revenues), Technology (industrial software companies with €5–50M revenues, buy-and-build), and Secondary (LP interests in mature private equity portfolios) — earning revenue through management fees on AUM plus carried interest on successful exits.

Product overview

Metrika SGR is an independent private equity investment platform offering three distinct investment strategies: the Metrika Fund (Industry Strategy) for industrial SMEs, the Metrika Tech Fund for technology/software companies, and a Secondary Strategy for acquiring secondary interests in private equity portfolios. The platform operates as a fund management structure rather than a unified software product, with each strategy managed by dedicated teams targeting different market segments within the Italian industrial landscape.

Differentiator

Problem solved

Functional benefit

Brands

• Metrika Fund: Primary industrial private equity fund focusing on Italian SMEs with revenues €20-100 million.
• Metrika Tech

Products and services

• Metrika Fund (Industry Strategy) Flagstone private equity fund acquiring majority or qualified minority stakes in Italian industrial SMEs with €20-100M revenues and good operating profitability, focused on mechanics, packaging, industrial components, cosmetics, pharmaceutical chemistry, life sciences supply chain, and food sectors; targets international expansion through buy-and-build strategies.
• Metrika Tech Fund (Technology Strategy) Technology-focused private equity fund investing in established Italian software companies with €5-50M revenues whose business models solve complex problems facing industrial companies, executing buy-and-build strategies in sectors such as cybersecurity, MarTech/loyalty, and vertical software.
• Metrika Secondary Strategy Private equity secondary strategy partnering with leading PE funds and their LPs to acquire discounted secondary interests in mature, de-risked portfolios at advanced stages of the investment lifecycle, providing liquidity to selling LPs and discounted entry points to buyers.

Quantifiable outcome

• Metrika Fund closed at €150 million with oversubscription (requests up to €200 million)
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

17 partnerships are on record, tiered core.

• 3T Trattamenti Termici TorinocoreStrategic or Co-development Partner · 30 September 2025Proterm Group acquired 3T Trattamenti Termici Torino to expand heat treatment capabilities. Founded 1970, specializes in carburizing, nitriding, and aluminum heat treatment. Operates 4,900 m² facility in Rivoli, Turin.
• Tra.Ind. S.r.l.coreStrategic or Co-development Partner · 13 November 2024Proterm Group acquired 100% of Tra.Ind., specializing in induction hardening and nitriding of mechanical components. Founded 1993, serves 400+ clients in Northwest Italy with advanced low-pressure carburizing facilities.
• BrakingcoreStrategic or Co-development Partner · 30 September 2024Sefo Group acquired Braking from Sunstar Engineering. Founded 1990, Braking specializes in brake systems for motorcycle aftermarket and bicycles. Brand with 150 world championship titles. Laura Borsari continues as Managing Director.
• Racetech S.r.l.coreStrategic or Co-development Partner · 8 May 2024Sefo Group acquired Racetech (RTech), specializing in off-road motorcycle accessories. Founded 2002 by Cristian Mittone, headquartered in Premariacco (UD). Catalog of 5,000+ items in plastic, aluminum, rubber, and technical materials.
• All Access Equipment InccoreStrategic or Co-development Partner · 5 February 2024CMC acquired 100% of All Access Equipment Inc, a US distributor of spider aerial platforms. Part of strategy to create international leader in tracked aerial work platform manufacturing.
• LightechcoreStrategic or Co-development Partner · 16 October 2023Sefo Group acquired Lightech, expanding product portfolio in motorcycle accessories. Lightech joins CNC Racing brand under Sefo Holding.
• AlkemycoreStrategic or Co-development Partner · 6 March 2023Alkemy signed agreement with Metrika SGR as strategic partner for digital development of industrial portfolio companies. Alkemy brings digital transformation expertise to enhance portfolio company operations.
• HotelifycoreStrategic or Co-development Partner · 22 September 2022Allegrini Group acquired Hotelify, a Bologna-based online platform for hospitality amenities. Platform serves 20,000+ B2B customers in Italy and internationally. Enables direct e-commerce channel for Allegrini's hospitality products.
• ClinerscoreStrategic or Co-development Partner · 22 September 2022Allegrini Group acquired Cliners, a professional laundry channel operator. Enables direct market access in professional laundry segment with technical expertise and commercial strength, targeting national market leadership.
• Abinsula SrlcoreStrategic or Co-development Partner · 12 April 2022Abinsula Srl, Italian Embedded/IoT/Web/Mobile solutions provider specializing in automotive sector (ELITE/Borsa Italiana network), sold majority stake in Abissi but retained 10% for industrial partnership.
• Leevia SrlcoreStrategic or Co-development Partner · 7 July 2021Advice Group acquired Leevia Srl, a startup specializing in contest engine technology. Acquired May 2021, enhances Advice Group's user activation and engagement platform capabilities.
• ABC Capital PartnerscoreGTM or Marketing Partner · 12 March 2021ABC Capital Partners is the exclusive advisor to Metrika Tech Fund. Co-founded by Dario Albarello, Francesco Baroncelli, and Alessandro Cozzi. Provides analysis of sectors of interest, identification of target companies, portfolio monitoring, and value creation support.
• Societe GeneralecoreOthersSociete Generale serves as depositary bank for Metrika SGR funds.
• Deloitte & TouchecoreOthersDeloitte & Touche serves as external auditor for Metrika SGR.
• QuantyxcoreOthersQuantyx provides risk management services to Metrika SGR.
• EddystonecoreOthersEddystone provides internal audit services to Metrika SGR.
• RefinkcoreOthersRefink provides compliance and AML support services to Metrika SGR.

Scale indicators5 records

Recent moves9 records

Expansion highlights7 records

Emerging players

• Ambienta SGR: European asset manager focused exclusively on environmental sustainability investments across private equity, private debt and listed equities. Comparable as a thematic Italian/European investment platform with industrial sustainability angle overlapping Metrika's industrial transformation thesis.

Direct peers

• Argos Wityu: Pan-European mid-market private equity firm focused on majority stakes in family- and founder-led businesses. Comparable in deal size, family-business targeting and value-creation approach; Metrika's Investment Director previously worked at Argos Wityu.
• Clessidra Capital: One of Italy's largest independent private equity firms, focused on mid-market Italian companies. Directly comparable as a domestic mid-market PE platform with similar Italian SME focus; notably, Metrika's CFO previously spent 14 years at Clessidra.
• IDeA Capital Funds: Italian asset manager managing private equity, private debt and venture capital funds focused on Italian SMEs. Comparable as a multi-strategy Italian alternative asset manager with similar institutional LP base.
• Mandarin Capital Partners: Italy-focused mid-market private equity firm with a strong industrial SME thesis. Highly comparable given the overlap in target sector and company size; Metrika's CEO previously worked at Mandarin Capital Partners.
• NB Renaissance Partners: Italian private equity firm focusing on growth capital and buyouts in mid-sized Italian companies. Comparable deal size and Italian mid-market focus; Metrika's Investment Director previously worked at NB Renaissance.
• 21 Investimenti: Italian mid-market private equity firm with multiple strategies (majority, minority, debt). Highly comparable as a multi-strategy Italian SME-focused PE manager; Metrika's CEO previously worked at 21 Investimenti.
• Alto Partners: Italian private equity firm focused on small/mid-cap industrial companies with a buy-and-build approach. Comparable in target deal size (€20-100M revenue), sector focus and family-business orientation.
• Quadrivio Capital SGR: Italian private equity and alternative asset manager operating multiple strategies including private equity, private debt and venture capital. Directly comparable as a multi-strategy Italian PE platform; Metrika's Managing Partner previously led the PE Area at Quadrivio.
• EOS Private Equity: Italian mid-market private equity firm focused on industrial SMEs with active buy-and-build strategies. Directly comparable target sector and company profile; Metrika's CEO led EOS's investment team.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks2 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Metrika SGR