BNP Paribas Fortis: an investor in high-tech companies
2 min
The aim of the imec.xpand fund – created by the imec research centre – is to invest in high-tech companies, and since its launch in February the fund has already raised €60 million from investors including BNP Paribas Fortis.
To realise its ambitions, imec has succeeded in attracting a number of private- and public-sector investors, including BNP Paribas Fortis, Samsung, Applied Materials (a manufacturer of equipment for the production of electronic chips), the universities of Ghent and Leuven, and Belgium's Federal Holding and Investment Company (SFPI).
A unique structure
Imec.xpand's unique structure is what sets it apart from other accelerators. The fund combines imec’s expertise, vision and infrastructure in the field of nanoelectronics and digital technologies with the ideas and technological expertise of strategic investors such as Samsung and Applied Materials.
“That unique combination means that the fund has everything it needs to establish new companies that specialise in cutting-edge technologies,” explains Mireille Kielemoes (Fund Investments - BNP Paribas Fortis Private Equity). "It's also one of the reasons why BNP Paribas Fortis decided to invest in the fund. Not only will this initiative add value in the long run, but it also ties in perfectly with the strategy of our bank, which is keen to invest in the innovators and entrepreneurs of the future."
To preserve its independence, imec.xpand's management team makes its decisions completely autonomously.
Focus on smart applications
Imec.xpand focuses on innovative nanoelectronics projects with various applications in areas such as healthcare, smart cities and transport, logistics and industry 4.0, and energy.
“Developing intelligent applications like this is very capital intensive,” explains Mireille Kielemoes. "That's why the fund provides companies with the necessary financial resources during the various project phases, i.e. from research and development to the marketing of the final product. Imec.xpand's business plan is conceived in such a way that the fund can guarantee the entire financing cycle of the selected projects."
To fulfil its objectives, the fund intends to raise €100 million in the long term. The target is ambitious, just like the fund and the team behind it!