Warsaw-based investment firm bValue has announced the closing of its third fund, bValue Growth (BVG), at €90 million to support technological companies in Poland and across Central and Eastern Europe.
- bValue was founded in 2016 by Maciej Balsewicz as early-stage tech and tech-enabled CEE businesses backer. Since its inception, it has invested in over 40 companies, including Your Kaya, a startup that created eco-friendly feminine hygiene products, Tidio, an all-in-one customer service tool, and has made 14 exits. The fund's seed investments usually range from €100,000 to €1 million.
- bValue Growth fund was launched in 2022, becoming the third for bValue and the largest one. “We realized that our well-tested approach of capital + good advice on seed stage can be further developed and well applied in later stages where we see much less capital available,” it says in the statement.
- Initially, bValue's third fund had a target cap of €80 million, but the fund managed to increase its capitalization by €10 million. Limited partners include institutional investors such as the European Investment Fund and the Polish Development Fund, as well as private backers from Poland and Western Europe.
“bValue Growth successful final closing underlines the catalytic role of the European Investment Fund (EIF). This investment was made possible via the European Scale-up Action for Risk capital (ESCALAR) program, which supports investments in scale-ups, making it a good fit for bValue strategy of improving access to finance for high-growth companies in the CEE region,” said Marjut Falkstedt, EIF Chief Executive.
- bValue Growth focuses on fast-growing tech companies with a proven business model. Its goal, the fund says, is to help bridge the funding gap that exists between early-stage investors like venture capital funds and buyout-focused private equity firms.
- BVG invests €5-€15 million in a single ticket for an equity stake of 20-40%, with possibility to acquire majority stakes in exceptional cases.
- In November 2023, bValue closed its first investment from BVG, supporting Hostersi, a provider of cloud migration and cloud infrastructure support services, with more deals to be finalized and announced shortly.
