Portfolio

Fund Capital commitment from BGF (million) Fund size (million) % BGF Investment date Sector focus Stage of investment
Fortino Capital Growth PE I € 20 € 242 8,3% 20/11/2019 ICT & Technology Late stage venture
Smartfin Capital II € 25 € 239 10,5% 20/11/2019 ICT & Technology Late stage venture
Sofindev V € 20 € 170 11,8% 23/12/2019 Generalistic Growth & Buy-out
Gilde Healthcare V € 15 € 416 3,6% 17/03/2020 Life sciences Late stage venture
Forbion Growth Opportunities Fund I € 20 € 360 5,6% 01/07/2020 Life sciences Late stage venture
Andera Expansion III € 20 € 250 8,0% 25/11/2021 Generalistic Growth & Buy-out
Kurma Growth Opportunities € 16 € 167 9,6% 14/02/2022 Life sciences Late stage venture
Apheon MidCap Buyout V € 25 € 800 3,1% 23/05/2022 Generalistic Growth & Buy-out
Forbion Growth Opportunities Fund II € 10 € 616 1,6% 31/05/2022 Life sciences Late stage venture
Fortino Capital Growth PE II € 20 € 327 6,1% 14/06/2022 ICT & Technology Late stage venture
Mentha Capital Fund VII € 7,5 € 265 2,8% 27/09/2022 Generalistic Growth & Buy-out
Sofindev VI € 15 € 250 6,0% 31/03/2023 Generalistic Growth & Buy-out
Smartfin Capital III € 7,5 € 171 (still in fundraising) 4,4% 24/05/2023 ICT & Technology Late stage venture
EQT Health Economics III € 10,0 - - 28/12/2023 Life sciences Late stage venture
M80 Capital II € 15,0 € 120 (still in fundraising) 12,5% 29/01/2024 Generalistic Growth & Buy-out
TOTAL € 246 € 4410
Fortino Capital Growth PE I & II

Fortino invests in ambitious scale-ups and more mature business (SMEs) which are facing typical challenges regarding go-to-market, innovation and organizational design and talent management. Fortino supports CEOs and their management teams to scale internationally.

Contact:
Duco Sickinghe
Managing Partner
Antwerp@fortino.be

https://www.fortinocapital.com/

Smartfin Capital II & III

Smartfin provides replacement and expansion capital to European growth companies that display the potential for significant value creation in fast growing market segments. Smartfin combines financial, operational and entrepreneurial experience supporting its portfolio companies in their growth ambitions.

Contact:
Jürgen Ingels & Bart Luyten
Founding Partners
info@smartfin.com

smartfinvc.com


Sofindev V & VI

Sofindev is an independent private equity firm investing in small and medium sized enterprises in Belgium since 1991. Sofindev invests in buyout and growth capital in profitable Belgian SME’s to support their growth strategy.

Contact:
Eric van Droogenbroeck & Jan Camerlynck
Managing partners
info@sofindev.com

sofindev.com


Gilde Healthcare V

Gilde Healthcare V is a €416 million venture and growth capital fund and targets growth opportunities in healthcare sectors including digital health, medtech and therapeutics, both in Europe and North America.

Contact:
Pieter van der Meer & Edwin de Graaf
vandermeer@gildehealthcare.com
degraaf@gildehealthcare.com
https://gildehealthcare.com/nl/

Forbion Growth Opportunities I & II

Forbion is a leading venture capital firm that works closely with entrepreneurs to build life sciences companies with technologies and products designed to transform people’s lives. The fund approaches the market through three strategies and focuses on growth capital, pre-IPO financing and the support of undervalued assets.

Contact:
Dirk Kerstens & Wouter Joustra
(General) partners
info@forbion.com
https://forbion.com/en/

Andera Expansion III

Andera is a major player in private company investments in France, Belgium and internationally. Its teams manage over EUR 3,0 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion and Andera Croissance), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra). Andera Partners’ mission is to work alongside companies and their managers to support them in achieving strong and sustainable growth. The quality of performance offered to its investors relies on a strong partnership between the entrepreneurs in our portfolio companies and our teams, based on shared values.

Contact:
Hans Van de Velde
Senior Advisor Belgium
h.vandevelde@anderapartners.com
www.anderapartners.com




Kurma Growth Opportunities

Kurma Partners is a prominent player in the life sciences field in Western Europe. With close to EUR 700 million of assets under management and more than 55 investments since its inception in 2009, this fund manager has developed a strong expertise in financing healthcare innovations, from pre-seed to growth stage. Kurma has built a unique network of partners with the best European academic research players, to transform their disruptive scientific discoveries into cutting-edge medicines or medical devices to diagnose and treat patients with severe diseases with high unmet medical need.

Contact:
Séverine Pénot
Head of Investor Relations
contact@kurmapartners.com

https://www.kurmapartners.com/

Apheon MidCap Buyout V

Apheon is a mid-market private equity investment company with EUR 2.5 billion of assets under management from select European institutional investors and families. Apheon is a disciplined, discreet and responsible value investor, which provides “patient and friendly capital” to entrepreneurs and managers who need capital, industrial know-how or technological solutions to accelerate the development of their companies. Apheon has offices in Brussels, Amsterdam, Paris, Munich, Milan and Madrid. Since its inception in 2005, Apheon has raised approximately €3.0 billion, invested in 34 companies.

Contact:
John Mansvelt
Chief Financial Officer
jm@apheon.com
apheon.com

Mentha Capital Fund VII

Mentha Capital is an independent private equity firm active in the lower end of the mid-market in the Netherlands, Belgium and Denmark. Through its funds the company invests in mid-sized and profitable companies with clear opportunities for growth along multiple avenues, such as organic growth, expansion in new markets and/or a buy-and-build approach. Mentha manages capital from a solid base of wealthy individuals, families and institutional investors with a long-term investment horizon. The entrepreneurial team of investment professionals, with strong financial and corporate business experience, likes to team up with management to jointly realize ambitious business plans.

Contact:
Mentha Capital
office@menthacapital.com

https://mentha.eu/


EQT Health Economics III

EQT Life Sciences, formerly LSP, is one of Europe’s largest healthcare investors, targeting innovative life sciences and healthcare companies. With a dedicated team of experienced investment professionals, coming from backgrounds in medicine, science, and industry, EQT Life Sciences backs inventors who have ideas that could truly make a difference for patients. The team combines deep sector knowledge, analytical skills, and investment experience to provide the added value that inventors seek.

Contact:
Rudy Dekeyser
Partner, Head of Health Economic Funds
rudy.dekeyser@eqtpartners.com

https://eqtgroup.com/

M80 Capital II

M80 Partners is a Belgian generalist private equity fund manager investing in high growth lower mid-cap SME’s in Benelux and France. The focus is on ambitious companies & entrepreneurs that embrace change and with whom the fund manager works closely to realize their full potential - often by making smart or better use of digital platforms. Its diverse international team of former entrepreneurs, ex- CEOs, private equity professionals and digital pioneers looks to inspire, challenge and support companies to generate meaningful value for their customers, employees, owners and investors.

Contact:
Jehanne de Walque
Partner / CFO
jehanne.dewalque@m80partners.com

www.m80partners.com

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