Funds & Joint Ventures
Institutional investors, wealthy families and entrepreneurs prefer a partner that gives high priority to expertise and professionalism. Centralising resources with a limited number of partners increases financial strength and hence the guarantee of return. Gimv is one such a partner that combines expertise with a broad international network. In this capacity, Gimv participates in numerous funds and joint ventures.
With its EUR 609 million of resources, Gimv-XL has grown into the largest fund ever for midcap companies in Flanders and Brussels. The Vlaamse Participatiemaatschappij and Gimv have each contributed EUR 250 million, with the remaining EUR 109 million coming from institutional investors and wealthy families. Gimv-XL’s focus is on ambitious projects and on passionate entrepreneurship in Flanders. The fund’s long investment horizon enables it to act as long-term partner, teaming with the portfolio company’s management to create value. This it does by actively supporting expansion, by operational improvements and by financial optimisation to strengthen the portfolio company’s market position. This approach is illustrated by Gimv-XL’s recently announced entry into PinguinLutosa, whether its injection of capital will enable the latter to become one of the largest vegetable processors in Europe.
Gimv-XL investment focus
- larger growth companies with enterprise value of between EUR 75 and 750 million;
- decision centre in Flanders or Brussels;
- investments from EUR 15 to 100 million;
- minority and majority shareholdings;
- equity or quasi-equity;
- listed or private companies.
Gimv-Agri+ Investment Fund
The Gimv-Agri+ Investment Fund is a collaboration between Gimv and the Boerenbond’s Agri Investment Fund. The EUR 60 million it manages are used
to invest in innovative companies with growth potential in agriculture, food and related sectors. During the past financial year, the fund took an initial shareholding in Belgian company Eden Chocolates.
Gimv-Agri+ Investment Fund investment focus
- innovative companies in the agricultural and related sectors;
- Benelux and surrounding countries;
- investments from EUR 2.5 million to 10 million;
- minority and majority shareholdings;
- all growth stages of the enterprise.
DG Infra, a collaboration between Gimv and Dexia, manages two complementary investment funds, DG Infra+ and DG Infra Yield, which together account for EUR 250 million. Both funds invest in infrastructure and related activities, such as PPP and selected real estate projects. Activities are located mainly in the Benelux. This local presence combines with the expertise present in DG Infra to produce strong, competitive advantages.
DG Infra investment focus
|DG Infra+||DG Infra Yield|
|investments of between EUR 5 and 15 million (This figure can be higher in the case of joint investments)|
|exit focus||long-term (up to 30 years)|
|focus on value creation and capital gains||annual cash distribution to investors|
|projects with construction and development risk||limited construction and development risk|
|equity investments in projects||equity investments in mature projects and junior and senior debt|
Central Europe and Russia
Central Europe remains a fast growing region in which Gimv plays an active role. It has its own presence in Prague, which acts as a hub for the entire Central European market. In 2010 this team initiated Gimv’s investment in Polish company DataContact. Gimv also invests in Genesis Private Equity II. Gimv is present in Russia through its close cooperation with and contribution to CapMan Russia. Gimv also manages the Eagle Russia Fund.
Halder-Gimv Germany specialises in leveraged buyouts in German midsize companies. A disciplined approach, clear investment criteria and strategic support to its portfolio companies form the basis for a successful strategy.
Other funds and partnerships
The Gimv venture capital team manages two other funds. Biotech Fonds Vlaanderen, founded by the Flemish government, provides seed and growth capital to new and existing biotech companies in Flanders. Gimv ARKIV Technology Fund for its part targets investments in early-tomidstage ICT companies.
Gimv also has a strategic partnership with Finnish fund manager Capman. The complementarity of the two companies has resulted in close contacts and an open exchange of knowledge, keeping Gimv in touch with the dynamic Scandinavian market.