
Alex Behaeghe
Associate Director
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- Full Name
- Alex Behaeghe
- Title
- Partner, Healthcare
- Firm
- Gimv
- Firm Type
- Private equity / growth capital (listed investment company, Euronext Brussels: GIMB)
- Investment Stage
- Growth capital, buyouts, and buy-and-build (small and medium-sized companies)
- Check Size
- Companies with capital requirements up to ~€150 million (Gimv Healthcare platform mandate)
- Target Company Profile
- Ambitious, innovative small/medium companies with a solid market position, strong management, and clear growth potential
- Sector Focus
- Healthcare — care providers and patient services, healthcare products (pharma, medical devices, functional nutrition), and healthcare B2B services & software (digital health, CROs/CDMOs, regulatory services)
- Geographic Focus
- Benelux, France, and the DACH region (Germany, Austria, Switzerland)
- Location
- Antwerp, Belgium
Background
Alex Behaeghe is a Belgian private-equity investor who joined Gimv's Healthcare team as a Partner in 2023. Gimv is a Brussels-listed European investment company (Euronext Brussels: GIMB) that invests across several platforms, with Healthcare among its core areas. Behaeghe is based in Antwerp and focuses on healthcare investments across Gimv's Benelux, French, and DACH footprint.
Before Gimv, Behaeghe spent roughly 2015–2023 at Gilde Buy Out Partners (renamed Rivean Capital in February 2022), where he built his private-equity experience working on healthcare deals. Notably, he joined the Executive Committee of one of the firm's Belgian portfolio companies, Corilus — a leading provider of software for first-line healthcare providers (GPs, dentists, pharmacies, physiotherapists, nursing and elderly care) — where he focused on business development and value creation rather than pure deal execution, giving him hands-on operating experience inside a healthcare software platform.
Earlier in his career, Behaeghe worked at The Boston Consulting Group (BCG) in Brussels, where he was involved in due diligence, post-merger integration, and business transformation. He started out in ING Corporate Finance, gaining buy- and sell-side M&A advisory experience.
On the academic side, he holds a Master's in (Civil) Engineering from KU Leuven and a Master in General Management from Vlerick Business School, both in Belgium. He was awarded the CFA charter in 2012.
Investment Thesis & Focus
- Invests through Gimv's Healthcare platform, backing small and medium-sized companies with capital requirements up to ~€150 million, typically via growth capital, buyouts, and buy-and-build strategies.
- Targets three healthcare sub-segments: (1) care providers and patient services (clinics, diagnostics, nursing, homecare, pharmacies); (2) healthcare products (pharma, medical devices, functional nutrition); and (3) healthcare B2B services and software (CROs/CDMOs, regulatory services, digital health).
- Geographic mandate spans the Benelux, France, and DACH regions.
- Looks for "ambitious and innovative companies with a solid market position and strong growth potential," paired with "strong management and a clear corporate vision of social added value."
- Emphasizes active, operational value creation beyond capital — management strengthening, buy-and-build M&A, digitalization, operational excellence, and sustainability — a thesis consistent with his own operating role on the Corilus Executive Committee.
Notable Investments
- Equine Care Group (ECG) — Gimv acquired a minority stake (announced Nov 27, 2025) alongside Belgian family investor CNP to back the group's global expansion in equine medicine; ECG operates equine hospitals, ambulatory and reproductive services, nutrition brands, and labs, treating 50,000+ horses annually. Behaeghe was part of the Gimv deal team; ECG became one of Gimv's ten largest holdings.
- Corilus — Belgian healthcare-software leader for first-line care providers. Acquired by Gilde Buy Out Partners in 2020; Behaeghe served on its Executive Committee (business development / value creation). In 2024 Rivean Capital re-invested alongside a new investment from PSG Equity.
- Gimv Healthcare portfolio (platform-level, team involvement): follow-on investments during FY2024–25 in Apraxon (wound management), BioConnection (pharma CDMO), France Thermes (thermal resorts), and MVZ Holding (medical practices). Broader active platform includes Ambulantis, Arseus Medical, iLC, Novicare, SGH Medical Pharma, and Spineart.
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