a snapshot of tech startup funding and m&a activity in belgium

Copyright © 2016, All rights reserved

@robinwautersrobin@tech.eu

BELGIUMFUNDING ANALYSIS

ANALYSISFunding by quarter

3

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016€0

€20,000,000

€40,000,000

€60,000,000

€80,000,000

€100,000,000

€120,000,000

0

5

10

15

20

25

30

35

€12,930,000

€40,671,000 €43,200,000€52,970,000

€44,389,526

€106,042,272

Investment volume Number of deals

Number of deals

ANALYSISFunding by month

4

Number of deals

Janu

ary

Febr

uary

Mar

ch

April

May

June July

Augu

st

Sept

embe

r

Octo

ber

Nove

mbe

r

Dece

mbe

r

Janu

ary

Febr

uary

Mar

ch

April

May

June

2015 2016

€-

€10,000,000

€20,000,000

€30,000,000

€40,000,000

€50,000,000

€60,000,000

0

2

4

6

8

10

12

14

16

Investment volume Number of deals

ANALYSISNumber of funding rounds by size of investment

5

Num

ber o

f dea

ls

€0 to €1M €1 to €5M €5 to €10M €10 to €20M €20 to €50M >€50M0

2

4

6

8

10

12

14

16

18

Distribution of funding deals (Belgium)

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016

ANALYSISFunding by vertical (2015 – Q2 2016)

6

Number of deals

€0

€10,000,000

€20,000,000

€30,000,000

€40,000,000

€50,000,000

€60,000,000

€70,000,000

€80,000,000

€90,000,000

0

2

4

6

8

10

12

14

16

Investment volume Number of deals

ANALYSISTop 10 funding rounds in Belgium 2015 & H1 2016

7

Xpenditure

Take Eat Easy

MCS

UnifiedPost

Restore

Itineris

NGDATA

Option

Take Eat Easy

Collibra

€5,190,000.0

€5,820,000.0

€6,000,000.0

€6,000,000.0

€7,000,000.0

€9,100,000.0

€9,280,000.0

€10,000,000.0

€10,000,000.0

€20,930,000.0

2015

icometrix

EMAsphere

Smappee

Epigan

Accelleran

UnifiedPost

Rombit

iSTAR Medical

Auro Technologies

Showpad

€2,000,000

€2,000,000

€2,469,023

€2,750,000

€3,000,000

€10,000,000

€10,000,000

€10,000,000

€24,500,000

€45,454,545

H1 2016

* Q2 data includes April, May and first two weeks of June

Comparing Belgium’s funding activity with

major EU hubs

8

ANALYSISPutting Belgium into context: funding by country (2015 – H1 2016)

9

Belgium

Sweden

France

Israel

Germany

41

134

167

206

324

2015

Belgium

Israel

Sweden

Germany

UK

France

56

138

174

219

229

263

H1 2016

ANALYSISPutting Belgium into context: total investment volume by country (2015 – H1 2016)

10Billion

Belgium

Sweden

France

Israel

Germany

€148,771,000.0

€906,615,000.0

€1,151,886,272.7

€1,894,182,727.3

€3,011,887,000.0

2015

Belgium

Germany

France

Sweden

UK

Israel

€106,042,272.0

€1,087,702,654.0

€1,167,747,514.0

€1,219,882,284.0

€1,820,355,201.0

€1,832,502,597.0

H1 2016

Comparing Belgian funding activity with similar-sized

EU hubs

11

ANALYSISPutting Belgium into context: funding by country (2015 – H1 2016)

12

Hungary

Romania

Austria

Greece

Portugal

Belgium

Finland

Denmark

Sweden

The Netherlands

3

3

12

17

22

41

54

56

134

140

2015 H1 2016

Romania

Greece

Hungary

Portugal

Austria

Finland

The Netherlands

Denmark

Belgium

Sweden

0 20 40 60 80 100

120

140

160

180

200

0

3

3

12

19

35

38

45

46

174

ANALYSISPutting Belgium into context: total investment volume by country (2015 – H1 2016)

13

Million

Romania

Hungary

Portugal

Greece

Austria

Belgium

Finland

Denmark

The Netherlands

Sweden

€900,000.0

€960,000.0

€35,510,000.0

€40,735,000.0

€44,124,545.5

€148,771,000.0

€182,050,000.0

€249,780,000.0

€401,226,909.1

€906,615,000.0

2015

Romania

Greece

Hungary

Austria

Portugal

The Netherlands

Belgium

Denmark

Finland

Sweden

€-

€2,060,000.0

€2,830,336.0

€21,874,438.0

€32,551,316.0

€99,921,373.0

€106,042,272.0

€142,904,874.0

€153,686,387.0

€1,219,882,284.0

H1 2016

BELGIUMM&A

ANALYSIS

ANALYSISM&A activity by quarter (2015 – 2016 YTD)

15

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016

3 3

2 2

5

7 7

13

7

ANALYSISM&A activity by investor involvement

16

2014 2015 2016 YTD

22% 21%30%

78% 79%70%

VC-backed Non-VC backed

* Q2 data includes April, May and first two weeks of June

ANALYSISWho bought the most Belgian tech companies in 2015 – 2016 YTD?

17

Belgium US France The Netherlands Japan Luxembourg Canada Bahrain

21

8

6

32 2

1 1

Location of acquirers of Belgian companies

* Q2 data includes April, May and first two weeks of June

ANALYSISM&A activity by vertical in 2015 & 2016 YTD

18

Telec

oms/In

frastr

uc...

Consu

ltancy

ICT Serv

ices

Data/an

alytics

E-com

merce

Health

Marketp

lace

Audio

visua

l

Enter

prise

SaaS

Adtec

h

Transp

ort/log

istics

Secur

ityMed

ia

10

6

4 43 3 3

2 21 1 1 1

ANALYSISNotable recent #BeTech acquisitions

19

20

Comparing Belgium’s M&A activity with major

EU hubs

ANALYSISPutting Belgium into context: funding by country (2015 – 2016 YTD)

21

Belgium

Sweden

France

Israel

UK

32

38

47

60

92

2015

Belgium

Israel

France

Sweden

UK

10

13

24

25

42

2016 YTD

22

Comparing Belgium’s exit activity with similar-sized EU

hubs

ANALYSISPutting Belgium into context: number of exits by country (2015 – 2016 YTD)

23Number of exits

Greece

Hungary

Romania

Austria

Portugal

Finland

Denmark

The Netherlands

Belgium

Sweden

0

0

1

4

5

14

21

30

32

38

2015

Greece

Hungary

Portugal

Romania

Austria

Denmark

Finland

Belgium

The Netherlands

Sweden

0

0

1

2

4

6

7

10

13

25

2016 YTD

24

Where in Belgium is the funding and exit activity

concentrated?

ANALYSISNotable tech companies to watch in Antwerp

25

EU TECH FUNDING

26

KEY 2015 FUNDING TAKEAWAYS

27

KEY 2015 EXIT TAKEAWAYS

28

Copyright © 2016, All rights reserved

@robinwautersrobin@tech.eu