| Baekeland II |
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In 2005 the partners of the Ghent University Association, together with Fortis Private Equity Belgium, KBC Private Equity, Ethias, Volksvermogen and the ARKimedes Fund, established a second university seed capital fund: Baekeland Fund II. This fund was started up with capital of 11.1 million EUR. Baekeland Fund II is building on the positive experience of the first Baekeland Fund. In the first five years, Baekeland Fund II will invest in some ten different, mainly high-tech companies that have grown out of research labs at Ghent University, Hogeschool Gent, Arteveldehogeschool or Hogeschool West-Vlaanderen. Baekeland Fund II has created a distinct profile for itself as a "seed capital" and "early stage" fund that makes its investments when the spin-offs are being established. If opportune, Baekeland Fund II, preferably together with new investors, will also invest in the following round of financing. Thus Baekeland Fund II hopes to realize large-scale projects that will be eligible for further financing by Flemish and international risk capital providers. On the other hand, Baekeland Fund II wants to realize a commercially acceptable return. In this way the Baekeland Fund II partners hope to contribute to the creation of promising growth companies and the revival of the Flemish economy. |