Akiles

Akiles is an evergreen investment fund based in Rhode-Saint-Genèse, Belgium, that provides growth capital, minority investments, and buyout funding to small and medium-sized enterprises across Europe. Operating without traditional exit constraints, the private equity firm manages a €50 million capital pool backed by twelve entrepreneurial families and leverages a team with over seventy-five years of combined industry experience. The fund targets flexible equity investments ranging from €100,000 to €5 million, with a typical transaction size of €1.5 million, to support market expansion, acquisitions, and generational transitions. Akiles has built a diverse portfolio of established companies across traditional industries, financial services, and digital sectors, including notable investments in Apimo, Gault&Millau Benelux, Vigotec, and Tadaaz. The firm was founded in 2019 by former Immoweb creator Christophe Rousseaux, alongside Laurent Puissant Baeyens, Thierry François, and Kurt Huyghe.

High-Level Overview

Akiles is a Belgian evergreen investment fund dedicated to supporting the growth of small to medium-sized enterprises (SMEs), primarily in Belgium and selected European countries. Its mission is to accelerate the growth of profitable SMEs by providing growth capital, typically through minority investments, while aligning closely with founders and management teams. Akiles invests across several growth stages including owner buyouts, venture capital for scale-ups, and management buy-ins, focusing on sectors with strong growth potential. The firm leverages its extensive entrepreneurial experience and network to actively support portfolio companies in scaling their operations and reaching new markets, thereby strengthening the Belgian SME ecosystem[1][2][3].

Origin Story

Founded in 2019 by Christophe Rousseaux, who previously led Immoweb from startup to a €25 million EBITDA business, Akiles was established to fill a gap in growth capital for Belgian SMEs. The fund is backed by 12 entrepreneurial families, combining over 75 years of experience in entrepreneurship, venture capital, and executive leadership. Since its inception, Akiles has evolved to manage around €50 million in capital, focusing on long-term partnerships with founders and managers to support sustainable growth without exit constraints. This approach reflects Rousseaux’s operational background and commitment to hands-on collaboration with portfolio companies[2][3].

Core Differentiators

• Unique Investment Model: Akiles takes minority stakes, emphasizing alignment with founders and management rather than control, which fosters trust and long-term collaboration[1][3].
• Network Strength: Backed by 12 entrepreneurial families and a team with deep operational and board experience, Akiles activates a broad network to support strategic growth[2].
• Track Record: Engaged in over 25 deals with a focus on growth-stage companies, including successful exits and IPOs, demonstrating a strong history of value creation[3].
• Operating Support: Provides hands-on support in financial, legal, and operational areas, helping companies scale effectively and navigate complex growth challenges[1][2].

Role in the Broader Tech Landscape

Akiles rides the trend of increasing demand for growth capital among European SMEs, especially those transitioning from founder-led startups to scalable enterprises. The timing is favorable due to a growing emphasis on sustainable, founder-aligned investment models that avoid forced exits and prioritize long-term value creation. By focusing on Belgian and select European SMEs, Akiles contributes to strengthening the regional economy and innovation ecosystem, enabling companies to compete internationally. Its operator-led approach and network activation help bridge gaps between venture capital and private equity, fostering a more supportive environment for mid-market growth[2][3].

Quick Take & Future Outlook

Looking ahead, Akiles is well-positioned to expand its influence by continuing to back ambitious entrepreneurs and scale-ups in Belgium and beyond. Trends such as digital transformation, sustainability, and cross-border expansion will likely shape its investment focus. As the firm deepens its portfolio and network, it may also increase its role as a strategic partner, not just a capital provider, further embedding itself in the SME growth ecosystem. Akiles’ evergreen structure and founder-aligned philosophy suggest it will remain a stable, long-term growth partner for SMEs navigating the challenges of scaling in a competitive global market[2][3].