Thursday, February 08, 2007
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Created by: Tornado Staff
Big Bang in the Benelux
Belgian venture capitalist (VC) Big Bang
Ventures is showing a huge boost in activity, having announced three
investments in the Benelux in the past week alone. Together with Wellington
Partners and Partech
International the company invested 7 million in a follow-up round
for Q-layer,
a Belgian provider of datacenter solutions. Big Bang co-led a non-disclosed
Series A funding round in 24access,
a Dutch developer of mobile applications. The other lead investor was Dutch
early-stage VC Solid Ventures, which has also picked up
speed with 3 investments announced in the past 3 weeks. On the same day as the
24access deal, Big Bang and Solid also disclosed their joint investment in
Dutch Avinity
Systems' first-round funding. Avinity specializes in solutions for
digital television.
Big Bang Ventures of Belgium was formed in 2000 and, according to the
company's Managing Partner, has "been through it all" in the past
years. Frank Maene said: "2000 and 2001 were overheated. In
2002 to 2005 we were in the dark middle ages. In 2006 things picked up again.
For example, there is money available for investment, customers are buying and
there are some good technologies sprouting up." Maene is currently meeting
with numerous entrepreneurs who have been working without funding and salaries
for the past few years to develop their ideas. "Now they have proof of concept
when they approach VCs to help them take the next step."
Venture capital activity in Belgium and The Netherlands showed different
trends in the last years. Belgium was in a real slump in 2004 and 2005, with
investments at an annual average of around 50 million. The Netherlands
showed a steady increase from 112 million in 2004 via 175 million in 2005 to
188 million in 2006. However, Belgian companies hit the jackpot in 2006 and
collected 185 million almost the same amount raised across the border. The
upswing in capital invested is the result of recent successful fundraising
efforts by some Belgian investors. Nevertheless, deal activity remains
modest in Belgium (18 in 2006) compared to The Netherlands (42 deals in 2006).
Frank Maene confirms this, stating: Belgium has fewer deals, but bigger
rounds.
In both countries, Biotechnology & Healthcare topped the sector
rankings, collecting 45% of the total technology investment in Belgium
and 49% in The Netherlands. Computers & Electronics took second
place (approx. 23%), followed by Software (approx. 14%). Dutch
early-stage investment respresented almost 40% of the total invested in 2006,
partly stimulated by the seed funds allocated by the government-related
TechnoPartner initiative. In Belgium, just 20% of the invested funds
concerned early-stage deals.
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