Gimv holds first EUR500m close of XL fund

22 January 2009

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Fund

Gimv has held a first closing of its XL fund on EUR500m. The fund seeks to raise additional capital with other institutional investors before the end of 2009. Gimv also manages Biotech Fonds Vlaanderen, a biotech venture fund of the Flemish Government.

Investors

Gimv acted as a cornerstone investor by bringing EUR250m to the fund. The Flemish Government, which part owns Gimv, contributed as a co-sponsor providing another EUR250m.

Investments

The fund focuses on Flemish companies with an enterprise value between EUR75-750m which have the capability to expand beyond the Flemish borders and onto the international market. The XL fund plans to invest in 10-15 companies principally in the information & communications technology and life sciences sectors over the next five years. The amount of each investment may run to EUR100m, in the form of equity or semi-equity. The fund takes a long term approach to investing and therefore aims at a horizon of 7-10 years for each investment.

People

Koen Dejonckheere, CEO of Gimv, will lead the investment team.

Name: XL fund

First closing: EUR500m December 2008

Focus: Flemish Mid-market

Contact: Koen Dejonckheere

Address: Karel Oomsstraat 37, 2018 Antwerpen

Tel: +32 3 290 21 00.