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Saragossa lands growth equity from Belgium's Tilleghem Capital - Dealroom

Reported by App
Sep 30, 2026· 2 min read
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Key Takeaways
  • • Tilleghem Capital, a Belgium-based private equity firm based in Ghent, has invested growth equity in Saragossa, expanding its portfolio of mid-market and growth-stage companies across Europe and the United States.
  • • Tilleghem operates dual private equity fund strategies (Tilleghem Capital I and II) with an evergreen, long-term hold approach, targeting mid-market buy-outs in the €100 million to €1 billion enterprise value range alongside late-stage growth companies.
  • • The firm maintains a hands-on partnership model with minority and majority stake investments, full acquisitions of mature companies (LBOs), and growth capital deployment, supported by an extensive network of entrepreneurs, family co-investors, and advisors.
  • • Tilleghem recently joined the Private Capital Belgium community, signaling strengthened alignment with Belgium's institutional investment ecosystem and broader European growth equity landscape.
Summary
Tilleghem Capital, a Ghent-based private equity firm, has deployed growth equity into Saragossa, marking a continued expansion of its investment activity in European and North American mid-market and growth-stage companies. The transaction reflects Tilleghem's strategic positioning within Belgium's institutional investment landscape and its commitment to identifying scalable, high-potential businesses requiring capital acceleration.

Tilleghem's investment mandate focuses on mid-market buy-outs targeting enterprises valued between €100 million and €1 billion, as well as late-stage growth companies positioned for accelerated scaling. The firm operates through Tilleghem Capital I and II vehicles using an evergreen fund structure—a long-term, deal-by-deal strategy that allows flexibility in deployment timing and hold periods without fixed fund termination dates. This approach aligns with institutional LP preferences for patient capital in lower mid-market transactions.

The firm operates as a hands-on partner rather than a passive capital provider, taking both minority and majority shareholdings depending on operational control and value-creation requirements. Beyond equity investments, Tilleghem engages in full acquisitions of mature companies through leveraged buyout structures (LBOs), supports early-stage ventures, and deploys growth capital into companies seeking expansion funding. The firm leverages an extensive network of co-investors, family offices, entrepreneurs, and operational advisors to enhance deal sourcing and add value post-investment.

Tilleghem's recent admission to the Private Capital Belgium community strengthens its institutional positioning within Belgium's venture and private equity ecosystem, facilitating deal flow, LP connections, and peer collaboration across the broader private capital market in the region.

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Sources

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App Saragossa lands growth equity from Belgium's Tilleghem Capital - Dealroom