Capobianchi was born in Rome on January 19, 1836, to a father who was an antiques dealer. His passion for art began early. He trained as an artist at the Accademia di San Luca in his hometown, where Vincenzo acquired a solid academic background.

His favorite subjects were historical paintings, in which he carefully reconstructed the settings; most of his paintings fall within the Neo-Pompeian movement, which favored genre scenes set in ancient Rome, with figures in antique clothing depicted in meticulously recreated interiors, partly thanks to his interest in classical art and archaeology.

He shared his interest in antiquity with a circle of artists, including Mariano Fortuny y Marsal, Attilio Simonetti, and Tomàs Morgas i Torras, who also drew inspiration from historical subjects, which they attempted to treat with archaeological precision.

In addition to painting, Capobianchi also distinguished himself as a numismatist. He joined the Roman Society of National History in 1896 and published several academic studies on medieval and Italian coinage, works that remain of interest to historians and collectors.

Capobianchi died on September 28, 1928, in Rome.
His paintings are held in museums and private collections in Italy and abroad and are considered valuable examples of 19th-century neo-Pompeian art.