Smile proudly announces the establishment of Smile Software & AI (Smile Sail).
Smile Sail, the new evergreen private equity fund from investor Smile Invest, focuses on investing in profitable B2B software companies and IT service providers that leverage emerging AI technologies to enhance their solutions. Building on the success of Smile Invest, Smile Sail combines a specialized focus on B2B software with operational expertise and a flexible evergreen structure.
Smile Sail prioritizes investments in the Technology, Healthcare, and Business Services sectors—key industries for Europe’s future. Technological innovations in these sectors are expected to be largely driven by software solutions and AI. Smile Sail aims to support sector leaders with expertise and capital.
The investment fund targets capital of €250 million, with €200 million already committed. Its strategy includes both minority and majority stakes in European B2B software companies. The fund exclusively invests in businesses with positive EBITDA, with investment amounts ranging from €10 million to €35 million per deal, and up to €50 million for strategic buy-and-build projects.
The fund’s evergreen structure sets it apart, enabling long-term investments and capital flexibility.
“At Smile, we firmly believe in the potential of technology and technological innovation for the future of the Benelux and Europe as a whole,” says Urbain Vandeurzen, sponsor and chairman of Smile Software & AI. “As co-founder and chairman of LMS International, I demonstrated that it is possible to develop a successful global leader in B2B software from Europe. With Smile Sail, we aim to contribute to the success stories of growth champions with the ambition to deepen and accelerate the transformation of key sectors. We build on the strong convictions, values, and processes that have already made Smile Invest, our first fund, a success.”
Ronald Kemmeren, partner at Smile Software & AI, adds: “Smile Sail is a unique initiative: supported by entrepreneurial families, with a focus on European B2B software and IT companies. The evergreen structure provides unmatched flexibility in terms of investment duration and structure. Moreover, we offer entrepreneurs a highly capital-rich environment with a strong network within our focus areas, while maintaining a respectful and impactful way of working. I am delighted to join Smile Sail as a Partner.”
