PMV (Participatiemaatschappij Vlaanderen) is a government-owned investment company based in Brussels, Belgium, operating under the motto “Partners in ambitie.” Managing an asset portfolio of approximately €1.3 billion, PMV supports startups, scale-ups, sole proprietorships and mature small and medium enterprises across Flanders. Tasked with establishing a Defense Fund, it also finances defense-related investments directly from its balance sheet. A team of around 149 professionals provides financial backing from launch through international growth, aiming to generate returns alongside positive societal outcomes in the region.
PMV offers a range of standard and custom financial instruments, from startup loans, co-financing and Win-Win loans to equity contributions and guarantees. It supports self-employed entrepreneurs, medium and large enterprises, real estate developments and infrastructure projects through programs such as Gigarant for credit guarantees and direct fund investments. Its sector expertise spans real estate and heritage redevelopment, life sciences and care, information and communication technology as well as creative industries and energy and infrastructure projects. A flexible approach with no fixed exit horizon allows PMV to adapt funding to evolving business needs, often in partnership with private and institutional investors. In 2023, PMV facilitated an InvestEU guarantee agreement expected to mobilize over €800 million for sustainable infrastructure projects.
Clean technology and the energy transition are central to PMV’s strategy. In early 2024, it co-invested €60 million in Storm to expand wind farms, add battery storage capacity and build an electric vehicle charging network. Portfolio companies such as GreenPulse and Climate Camp demonstrate its support for solar installations, sustainability data services and other energy innovations, underlining PMV’s openness to projects that advance battery storage and grid integration within the broader energy system.
