M80 holds €100m first close for maiden vehicle

Francesca Veronesi
27 November 2018

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M80, a recently founded Brussels-based GP, has held a first close on €100m for its maiden vehicle, with a final target set at €200m.

Former Gimv managing director Peter Maenhout recently founded M80 to invest in mid-market companies based in Benelux and France.

M80 is expecting to hold a final close for the maiden fund in 2019.

The GP has hired seven former CEOs and entrepreneurs to manage its investments and is planning four more hires across Belgium, France and the Netherlands.

Investors
Benelux- and France-based institutional investors, including banks, pension funds and insurance companies, have made commitments to M80's fund for its first close. The GP will look into attracting LPs from different geographies for the completion of its fundraising, including family offices.

Investments
The GP will look into investing in companies with a €25-300m turnover in the consumer, healthcare, business services and industrial sectors, with potential for growth through digitalisation. M80 intends to put emphasis on three areas: bringing strategic focus; investing in top-line sales growth; and introducing and improving digital capabilities.

M80 will mostly acquire majority or substantial minority stakes, though it does not exclude the option of buying minority stakes. The GP plans to provide equity tickets in the €10-40m range.

People
M80 – Peter Maenhout (CEO).