The universities of Ghent, Antwerp and Brussels have contributed to a $45m fund that will back spinouts from these institutions.
Ghent University, research organisation Vito and the universities of Antwerp and Brussels today joined forces to establish Qbic II, a €40m ($45m) university venturing fund that will support the institutions’ spinouts.
The seed-stage fund has also received the backing of Arkimedes Fund II, a vehicle established by Flemish government-owned investment firm ParticipatieMaatschappij Vlaanderen and the Region of Flanders, and Belgian government-owned investment firm SFPI-FPIM.
Financial services firms BNP Paribas Fortis, KBC and ING, who previously backed Qbic I, returned to provide capital for the second fund, which also attracted the interested of several private investors.
Arkimedes and SFPI also previously committed cash to Qbic I, set up in 2012. Qbic I has backed a total of 18 spinouts that emerged from the partner institutions.
Qbic II will hire two managing partners to join the existing team, though details have not yet emerged. The fund also hopes to extend its reach to additional research institutes in Belgium and the Netherlands, when it will also seek additional capital from new limited partners.
