BVA Memorandum 2024 (Private Capital Belgium (ex-BVA))

Summary

• Since 2007, a total of 25.7 billion euros has been invested in Belgian companies through venture capital and private equity.p.1
• Venture capital and private equity directly contribute 0.2% of Belgium's GDP.p.1
• Belgian companies backed by venture capital and private equity created +12,9% net jobs in 2022 compared to 2021, versus +2,6% growth in general Belgian business.p.1
• A total of 1,067 companies in Belgium were supported by venture capital and private equity by 2022, including 818 SMEs with 29,638 employees.p.8
• To cover future pension costs in Belgium, projections show that 90% of required economic growth must come from productivity increases and 10% from additional jobs.p.2
• Belgium currently counts 3 unicorns valued above $1 billion that developed thanks to venture capital and private equity.p.7

Key insights

1. Venture capital and private equity directly contribute 0.2% of Belgium's GDP.p.1
2. Belgian companies backed by VC and PE achieved net job growth of +12,9% in 2022 compared to +2,6% for general Belgian businesses.p.1
3. Belgian pension funding needs will require 90% of economic growth to come from productivity gains and 10% from additional jobs.p.2
4. International competition for investments has intensified, with Germany granting €10 billion to Intel and France providing €850 million in subsidies to ArcelorMittal.p.2
5. Biotech companies funded by venture capital in Belgium carry a valuation of around 36 billion.p.3
6. Biobest created over 2,500 jobs through private capital support, while Odoo and Collibra together created over 3,000 jobs worldwide.p.5
7. Belgium currently has 3 unicorns valued above $1 billion grown with venture capital and private equity.p.7
8. A total of 236,960 employees worked in VC and PE-backed Belgian companies in 2022.p.8