Belgian Growth Fund
2026-08-26belgiangrowthfund.be
Overview
What they do
Established in 2019 by the Belgian government alongside BNP Paribas Fortis, the Belgian Growth Fund (BGF) was created to address a specific funding gap for scale-ups in Belgium. By acting as a cornerstone Limited Partner (LP), BGF commits large tickets to established VC and PE funds, provided those funds maintain a strong "Belgian angle". In late 2024, the firm launched BGF II to continue this mission with an added emphasis on sustainability. The fund's assets are managed jointly by executive teams from PMV and BNP Paribas Fortis.
belgiangrowthfund.be
What they look for
BGF aims to enlarge and deepen access to risk capital for fast-growing small and medium-sized companies. They do this by investing in funds that provide late-stage venture capital, growth financing, and buy-out capital. BGF looks for established fund management teams with a joint and proven track record, requiring a "Belgian angle" where the portfolio fund commits to investing in companies based in (or significantly active in) Belgium for an amount at least equal to 1x BGF's capital commitment.
belgiangrowthfund.be
Stage
Series B+
belgiangrowthfund.be
Sectors
SaaS, Deeptech, Healthcare
belgiangrowthfund.be
Based
Brussels, BE
belgiangrowthfund.be
Sources
2026-08-26belgiangrowthfund.beBelgian Growth Fund invests in late-stage venture, growth and buy-out funds.
2026-08-26belgiangrowthfund.beSo far, Belgian Growth Fund II has raised EUR 212 million to support the growth and…
Portfolio, cheque size and the rest
The 4 companies they have backed that we can see, the cheque they write, and whether they are deploying right now.
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