BVA Private Equity & Venture Capital Awards

The third edition of the BVA Private Equity & Venture Capital Awards ceremony will take place on 7 October 2020. Nominations can be made from early April.

Our aim is to reward and celebrate high-performing Belgian companies that are backed by a private equity or venture capital investor, thus highlighting private equity as an asset class supporting the development and growth of Belgian businesses. By creating three award categories, we reflect the three major archetypes in our industry; Venture, Growth and Buy-out. The direct financial return for the private equity investor does not constitute the decisive factor for selecting the award winners.

2019 BVA Awards

Discover the nominees and winners of this year. Be sure to watch our after movie for the highlights of the evening.

On October 3rd 2019, the winners were revealed at our second Awards ceremony. We want to congratulate Icometrix as the winner of the category Venture Company, Guardsquare as the winner of the category Growth Company and Inula as the winner of the category Buy-out Company.

2019 Award Nominees

iTeos Therapeutics is a privately-held, clinical-stage biopharmaceutical company dedicated to transforming the lives of persons living with cancer by designing and developing next generation immunotherapies. The company is based in Gosselies, Belgium and Cambridge, MA, and was founded through the Ludwig Institute for Cancer Research (LICR) and the de Duve Institute (Université Catholique de Louvain).

Confo Therapeutics is a VUB-VIB spin-off co-founded in 2015 by VIB and Capricorn Venture Partners with the support of MINTS, PMV, QBIC and V-Bio Ventures. The Company is building a portfolio of first-in-class programs based on its proprietary Confo® technology which derives highly specialised camelid single domain antibodies or “ConfoBodiesTM” which stabilize G-protein coupled receptors (GPCRs) in a conformation of interest for drug discovery.

Icometrix is the world leader in software solutions to obtain clinically meaningful data from brain MRI and CT scans for patients with Multiple Sclerosis, Traumatic Brain Injury, Epilepsy, Alzheimer’s Disease, Stroke, etc. The fully automated icobrain software is FDA approved and has market approval in Europe, Japan, Canada, Brazil, and Australia.

Guardsquare is the global reference in mobile application protection. The company develops premium software for the protection of mobile applications against reverse engineering and hacking. The products are used across the world in a broad range of industries, from financial services, e-commerce and the public sector to telecommunication, gaming and media.

Newtec is specialized in designing, developing and manufacturing equipment and technologies for satellite communications. As a pioneer in the industry, Newtec is dedicated to creating new possibilities for the broadcast, consumer and enterprise VSAT, government, cellular backhaul and trunking and mobility, offshore and maritime markets.

Itineris was founded in 2003 by Edgard Vermeersch, providing integrated business solutions fully focused on power, gas and water distributors and retailers. Itineris utilizes its software solution UMAX™, a leading Customer Information System (CIS) to manage a utilities’ complete meter-to-cash process from quotation management, up to invoicing and collection.

House of Talents was established in 2008 by Steve Rousseau and groups 12 different business units: Sales Talents, Care Talents, Financial Talents, HR Talents, Executive Talents, DigiTalents, Next-ICT, BTS Food, Arcq, Chaintec Group, VALUEbuilders Group and MIDES. The group outsources more than 1.250 specialists in different niche markets and operates in Belgium and the Netherlands.

Inula Group was created following the merger of Pranarôm and HerbalGem, two pioneering laboratories specialized in natural therapies, founded in 1985 and 1986 respectively. Inula is a key player in the herbal remedies market, specializing in fast growing sub-sectors such as aromatherapy, gemmotherapy and Bach flowers, through three brands: Pranarôm, HerbalGem and Biofloral.

Ardena is a pharmaceutical Contract Development & Manufacturing Organization (CDMO) with more than 250 qualified professionals and six state-of-the-art facilities across Western and Northern Europe. Ardena is a one-source contracting partner to help biotech and prominent blue-chip companies navigate the drug development process from molecule to clinic.

Venture Company

icometrix – Winner

iTeos Therapeutics

Confo Therapeutics

Growth Company

Guardsquare – Winner



Buy-out Company

Inula – Winner


House of talents

Award categories

Venture company of the year, defined as a company backed by a venture capital firm, where the investment was primarily aimed at developing an innovative product or service, at scaling-up the company or accelerating the go-to-market process;

Growth company of the year, defined as a company backed by a private equity firm, typically through a minority investment, that is looking to expand and improve operations or enter new markets in order to accelerate its growth;

Buy-out company of the year, defined as a company backed by a private equity firm holding a majority or a controlling stake, and financed through a mix of equity and debt.

Nomination and selection process

  • A long-list of companies, nominated by the BVA members and selected industry observers, is compiled by the BVA (April-May)
  • The jury selects three nominees in each award category (June)
  • Each nominee completes a concise company presentation template (July-August) and the CEO gives an in person presentation to the jury, who elects the winner in each category (September)
  • The name of the winners are disclosed at the occasion of BVA Awards Ceremony & Cocktail (October)

Judging criteria

The jury will be asked to assess the awards against the following criteria.

For the Growth and Buy-out Company of the Year:

  • Building an attractive, distinctive business which stands out from others in its sector;
  • Skilled execution of particular projects, including product innovation, acquisition, capital investment, international expansion, marketing innovation;
  • Evidence of great and authentic leadership, including development of a strong, progressive culture and wider contribution to society;
  • Overall evidence of growth, including profit growth and returns on exit.
  • Evidence of a bold, decisive plan, well executed. Positive impact on employment and the local economy (in case of business transformation)

For the Venture Company of the Year:

  • Particular focus on bringing to market new and high impact innovations;
  • Evidence of skill in the way innovations have been translated into products, for example partnerships, regulatory hurdles overcome, technical challenges navigated;
  • Financial success to be judged not by reference to profitability: external validation still essential but more likely to be by revenue growth, significant contracts and external investment from respected investors at increasing valuations.
Jury 2019
Awards 2018