PMV (ParticipatieMaatschappij Vlaanderen)

TLDR

Flemish government investment arm with a EUR 1.9B portfolio, backing tech and biotech companies with tickets up to EUR 20M.

Overview

PMV, or ParticipatieMaatschappij Vlaanderen, is the investment vehicle of the Flemish government. It deploys capital across the full lifecycle of Flemish companies, from early venture to growth equity, with a particular concentration in technology and biotech.

PMV can invest up to EUR 20M per company and often co-invests alongside private VCs, providing a stabilizing anchor for larger rounds. Portfolio includes Augustine Therapeutics and Flamingo Therapeutics in the life sciences cluster.

As a government-backed vehicle, PMV also plays a policy role, supporting ecosystem infrastructure and de-risking sectors where private capital is scarce.

Portfolio

• Augustine Therapeutics - Rare disease therapeutics
• Flamingo Therapeutics - Cancer immunotherapy

Notes

PMV is a frequent co-investor that anchors many Flemish deep tech and biotech rounds. Its presence in a cap table is a signal of regional government confidence in the venture.