imec, a Ghent, Belgium-based research centre, launched the imec.istart future fund for tech startup.
In a first phase, €25M of capital has already been raised from such backers as PMV, Noshaq, ING Belgium, Finance&invest.brussels, Noshaq, and private parties such as COI, imec, and the family office of the Clarebout family. Successful tech entrepreneurs and founders of alumni companies from the imec.istart program are also investing, such as Ewout Meyns and Mattias Putman (ex-PieSync). This is a time-limited fund with an active investment period of 5 years. After this first closing, the fund can raise further capital in a second round up to a total order of magnitude of €50m.
Independently managed by managing partners Ruth Janssens and Kris Vandenberk, the new investment fund will invest in the Seed and Series A funding rounds of startups around digital technology. The vehicle provides seed capital of €100k to €250k. The fund allows for longer-term and larger-scale investments in a number of companies from the imec.istart program.
Commenting on the news, Ruth Janssens said: “In addition to funding, our aim is to provide strategic support to these companies through a broad network, including the imec and imec.istart network, in order to maximize the fund’s return-on-investment. In the coming months, we will offer the opportunity for other investors, business angels and family offices to also participate.”