Oltre Impact

Investment decisions rest with the partners. Co-founders Luciano Balbo and Lorenzo Allevi joined by partners Raffaele Fedele and Nicola Lambert form the core investment committee. Each partner holds board seats at four to five portfolio companies, embedding them directly in capital-allocation and operational decisions.

Oltre Impact is an institutional asset manager structured as a EuVECA (European Venture Capital Fund). Its limited partners include the European Investment Fund, Cassa Depositi e Prestiti, Intesa Sanpaolo, and several Italian family offices — not a single-family vehicle.

Oltre Impact deploys capital exclusively through direct equity investments into Italian SMEs. The firm does not operate as a fund-of-funds and has not disclosed commitments to external venture or private-equity funds.

The first two funds backed early-stage and expansion-stage companies. Oltre III deliberately shifted the focus to larger, high-growth SMEs that have already proven product-market fit and need growth capital to scale.

Under the EU's Sustainable Finance Disclosure Regulation, Article 9 funds must have a binding environmental or social objective. For Oltre, that means every portfolio company must demonstrate measurable positive impact aligned with the Sustainable Development Goals — the firm cannot invest in companies that lack a defined impact thesis, regardless of financial returns.