# First Capital

First Capital is a Private Equity based in Chicago, Italy.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Chicago, Italy
- **Region:** Europe
- **Address:** Milan, Italy
- **Founded:** 1990
- **Assets under management:** Undisclosed
- **Website:** www.firstcapital.it
- **LinkedIn:** https://www.linkedin.com/company/first-capital_2
- **Wikidata:** Q737478

## Regulatory record

- **CRD number:** 317825
- **SEC file number:** 801-122924
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/317825

## About

First Capital is an SEC-registered investment adviser in Chicago, IL, registered since 2022. The firm manages $12.3 billion in assets, with $11.3 billion on a discretionary basis. It has 62 employees and 24 investment advisers.

## Questions

### What is First Capital's investment strategy?

First Capital combines Private Investments in Public Equity with private equity buyout and growth deals, targeting small and medium enterprises. The firm takes an active management role in its portfolio companies with a medium- to long-term value creation horizon. The strategy spans both listed and unlisted Italian companies.

### Does First Capital focus only on public or only on private companies?

The firm targets both. Public-market activity takes the form of PIPE transactions, while private-market work covers direct buyout and growth equity. This dual-liquidity approach is relatively unusual among Italian holding companies focused on the SME segment.

### How large is First Capital's portfolio?

First Capital states it has completed over 100 investments. The firm does not disclose current assets under management, fund sizes, or individual portfolio company names on its website.

### Where does First Capital invest geographically?

The firm's own website references a global presence among its target companies, but primary sourcing points to a domestic Italian focus for the holding company. No international offices or specific ex-Italy portfolio holdings are publicly disclosed.

### Who manages First Capital?

First Capital does not publicly name its principals, investment committee members, or management team on its corporate website. The leadership structure remains private.

## Related profiles

- [First Bridge](https://altss.com/profile/first-bridge)
- [First Capital Partner](https://altss.com/profile/first-capital-partner)

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Last updated: 2026-06-03T20:00:00.000Z

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