Key Takeaways
- • Smartfin Capital, a Belgian private equity firm founded by Clear2Pay founder Jurgen Ingels and Bart Luyten, closed its second fund at €240 million, targeting B2B technology investments across the Benelux region.
- • The fund maintains the investment strategy of its predecessor, focusing on venture capital in software, hardware, and digitization opportunities, with emerging interest in 5G and predictive maintenance technologies.
- • Smartfin Capital I's portfolio includes established positions in Unified Post, Itineris, Divitel, NG Data, and MariaDB; the firm successfully exited its Newtec investment to a Singapore-based buyer at a strong return.
- • Fund founder Jurgen Ingels, a prominent Belgian fintech investor who previously sold Clear2Pay to FIS for €375 million in 2014, is actively pursuing expansion capital deployment, with three Belgian and one Turkish company currently under discussion for first investments expected to close by month-end.
- • The fund is expected to deploy capital rapidly following the close, signaling aggressive investment pace in early-stage European technology companies.
Summary
Smartfin Capital has successfully raised €240 million for its second institutional fund, SmartFin Capital II, according to Consultancy.eu. The Antwerp-based private equity firm, co-founded by Jurgen Ingels and Bart Luyten, will deploy capital following the investment thesis established by its inaugural fund, focusing exclusively on B2B technology ventures across Belgium, the Netherlands, and Luxembourg.
Ingels, a recognized figure in European fintech investment, previously built Clear2Pay into a substantial payments technology vendor before its 2014 acquisition by FIS for €375 million. Since that exit, he has maintained active involvement across the financial services innovation ecosystem, including co-founding The Glue in 2015—an innovation platform for financial services—and serving as a board member at international consulting firm Projective.
SmartFin Capital I has established a diversified portfolio across growth-stage technology companies including Unified Post, Itineris, Divitel, NG Data, and MariaDB. The fund has already demonstrated exit capability through the sale of former portfolio company Newtec to a Singapore-based acquirer, generating substantial returns for the fund.
SmartFin Capital II will broaden its investment aperture beyond fintech into the wider technology sector, encompassing software and hardware companies as well as traditional enterprises amenable to digital transformation. Ingels identified 5G infrastructure and predictive maintenance as additional thematic areas of focus. With capital now committed, the firm is executing on near-term deployment plans, currently evaluating three potential investments in Belgium and one in Turkey, with expectations to close the first investment within January 2020.
Ingels, a recognized figure in European fintech investment, previously built Clear2Pay into a substantial payments technology vendor before its 2014 acquisition by FIS for €375 million. Since that exit, he has maintained active involvement across the financial services innovation ecosystem, including co-founding The Glue in 2015—an innovation platform for financial services—and serving as a board member at international consulting firm Projective.
SmartFin Capital I has established a diversified portfolio across growth-stage technology companies including Unified Post, Itineris, Divitel, NG Data, and MariaDB. The fund has already demonstrated exit capability through the sale of former portfolio company Newtec to a Singapore-based acquirer, generating substantial returns for the fund.
SmartFin Capital II will broaden its investment aperture beyond fintech into the wider technology sector, encompassing software and hardware companies as well as traditional enterprises amenable to digital transformation. Ingels identified 5G infrastructure and predictive maintenance as additional thematic areas of focus. With capital now committed, the firm is executing on near-term deployment plans, currently evaluating three potential investments in Belgium and one in Turkey, with expectations to close the first investment within January 2020.
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