New fund launches €100m
28.02.2013 - Belgian Gimv launches a new Healthcare and Medtech fund to invest in the European health and care sectors.
The European investment company, which manages investments of 1.8bn in 85 portfolio companies, will initially invest €50m in the new fund. The Flemish Government will also contribute €50m through Gimv's reference shareholder, VPM. The fund is seeking to attract additional investments from institutional investors.
A formal first closing is planned in the coming year, said the investment company.Over the next six years, the fund aims to invest in 10 to 15 healthcare and medtech companies in the Benelux, Germany and France. The amount per investment can peak to €25m, both in equity and quasi-equity. With a term of 12 years, the fund presents itself as a long-term partner for the projects in which it will invest. The Gimv Health & Care team will be responsible for the management of the fund.
”The ageing population, a rising number of chronic diseases and better informed patients continue to push up healthcare demand and costs“ commented Urbain Vandeurzen, Chairman of the Gimv Board of Directors ”With the new fund, we want to encourage innovative companies and service providers in the sector to respond to this."
The Health & Care fund is not Gimv's first project in this field. The Flemish Government's venture capital fund for biotech companies, Biotech Fonds Vlaanderen, is managed by Gimv. Gimv is also responsible for the management of two infrastructure funds (DG Infra+ and DG Infra Yield). In early 2009, Gimv established the Gimv-XL fund for investments in larger Flemish growth companies. Later that year, the Gimv-Agri+ Investment Fund was launched in cooperation with the famers' league Boerenbond. Lastly, in 2011, the Gimv Arkiv Tech Fund II was set up as part of the second ARKimedes arrangement.