Team.blue welcomes new investment from CPP Investments in a transaction worth 4.8 billion euros.
Team.blue, Europe's leading digital enabler for entrepreneurs and SMBs, today welcomes a significant investment from Canada Pension Plan Investment Board (‘CPP Investments’). The company, founded by Belgian tech entrepreneur Jonas Dhaenens, is now valued at 4.8 billion euros. This makes it one of the largest unlisted tech companies in Belgium, and even in Europe.
The investment is a significant milestone for the team, implying growth of eight-times since Hg first invested in 2019. Today team.blue has more than 2,500 fully committed colleagues, including many tech entrepreneurs who have joined the group and continue to build the business.
This new investment will support team.blue's growth strategy, underpinned by a vision to provide ever more valuable online tools for businesses, with further AI-led product innovation.
CPP Investments joins Hg as well as founder and President of team.blue Jonas Dhaenens and co-founder Ali Niknam, who remain cornerstone investors alongside the wider management team led by CEO Claudio Corbetta.
Hg remains the largest single investor in team.blue.
Jonas Dhaenens, Founder and President, Claudio Corbetta, CEO, and Dawn Marriott, Executive Chair of team.blue said: "This is a truly significant moment for our team and the many entrepreneurs who have joined us over the years. We are delighted to welcome CPP Investments, a leading global institutional investor with values that closely align with our own. CPP Investment's approach as a long-term patient capital investor is perfectly suited to our vision for sustained growth. Alongside our existing shareholders, CPP Investments recognises the growth ahead, underpinned by our plan to provide increasingly relevant online tools for businesses. We thank Hg for their continued support and warmly welcome CPP Investments as we pursue our ambitious growth plans together."
Team.blue was advised by Arma Partners, EY, Bain, Deloitte, Linklaters and BearingPoint; team.blue's shareholders were advised by Harris Williams, KPMG, MacFarlanes and Norbruis Clement; and CPP Investments was advised by Kirkland & Ellis, JP Morgan, OC&C and KPMG.
