Belgium’s WAD Capital Secures Impressive €67.5 Million First Close for Debut Fund with €25 Million EIF Investment

Belgian investment firm WAD Capital recently announced the successful first closing of its fund at €67.5 million, with a significant €25 million investment from the European Investment Fund (EIF). This investment from the EU’s development bank positions EIF as the largest backer of WAD Capital’s debut fund.

Headquartered in Ghent, WAD Capital specializes in acquiring small and mid-sized European companies facing succession challenges, which are then handed over to carefully selected operators. The recent funding will enable the firm to scale its debut fund from €67.5 million towards a target of €130 million.

Robert de Groot, Vice President of the EIB Group, praised WAD Capital’s innovative approach, stating that it supports the growth of successful SMEs in Europe by providing both capital and entrepreneurial expertise. He highlighted the firm’s role in addressing succession issues, promoting business continuity, creating jobs, enhancing long-term competitiveness, and adapting strategies to meet current market demands.

Established in 2023 by Christopher Tournis Gamble, Steven Coppens, and Alain Brossé, WAD Capital is establishing itself as one of Europe’s leading institutional platforms for “Entrepreneurship Through Acquisition.” The firm focuses on profitable SMEs with EBITDA ranging from €1 to 5 million across the Benelux region, northern France, and western Germany, particularly in sectors such as healthcare, energy, climate transition, and business services.

Each acquisition by WAD Capital is led by a “CEO in Residence,” an experienced manager who is recruited, vetted, and guided throughout the process. The firm utilizes data-driven sourcing and AI-assisted legal due diligence tools to streamline deals that are typically considered too small for traditional advisory services.

WAD Capital’s approach has already resulted in eight successful acquisitions within its first year, with several more in progress. Managing Partner Steven Coppens expressed confidence in the scalability of their model, emphasizing the significance of the European Investment Fund’s substantial investment as a validation of their efforts.

With the backing of EIF and the European Commission’s InvestEU program, WAD Capital is working towards its €130 million target, with plans to expand its portfolio and increase the number of CEOs in Residence. The firm’s commitment to matching CEOs with European SMEs in need of succession solutions aims to preserve jobs and businesses within the region.

Looking ahead, WAD Capital aims to double its cohort size, acquire 25 companies by the end of 2027, and continue its mission of supporting European SMEs through effective succession planning. Managing Partner Alain Brossé emphasized the importance of keeping healthy SMEs in European hands to protect jobs and empower talented managers to become owners.

In conclusion, WAD Capital’s unique approach to “Entrepreneurship Through Acquisition” sets it apart as a key player in the European investment landscape. By combining financial returns with positive social impact, the firm is poised to make a lasting contribution to the region’s business ecosystem.