The asset management industry in Benelux is characterized by a robust network of firms that handle a variety of financial services, including investments in equities, real estate, and alternative strategies. Companies range from private equity firms to venture capitalists and corporate entities, catering to a wide array of clients from individual investors to large institutions. As technology evolves, these firms are increasingly tapping into digital assets and innovative financial solutions, adapting to changing market dynamics and investor preferences. The region consistently attracts capital and talent, indicating a positive outlook for future growth within asset management.


The list of top investors in the Benelux is a mixture of private equity firms and venture capitalists, spotlighting a mix of expertise and innovation. They are headquartered primarily in Amsterdam and Luxembourg, with varying sizes from small teams to large institutions. Noteworthy is the collective actions of these investors in 2024, totaling nearly 150 deals, underlining their active presence in the market. Many have been established for over a decade, fostering extensive networks vital for sourcing opportunities and driving growth, particularly in tech and financial sectors.


Top 12 Asset Management Investors in Benelux


1. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a leading investment firm founded in 2005, based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. With a robust portfolio managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors, CVC focuses on delivering sustainable value and growth through strategic investments. Notable transactions include the acquisition of iShares in 2009 for $4.5 billion, which significantly bolstered their presence in the asset management sector. In 2024, CVC acquired Hargreaves Lansdown, further expanding their footprint in investment services. Additionally, their acquisition of DIF Capital Partners for €1 billion in 2023 enhances their infrastructure investment capabilities, showcasing their diverse investment strategy that includes asset management.


2. Maven 11

  • Website: maven11.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 27
  • LinkedIn: maven11

Maven 11 is a venture capital investment firm based in Amsterdam, specializing in blockchain and distributed ledger technology. Founded in 2015, the firm focuses on providing investment and active support to founders in the crypto space, helping them navigate the complexities of the market. In 2024 alone, Maven 11 has participated in 27 investments, showcasing their active role in the investment landscape. Notable transactions include their participation in Finoa's venture round, where the company raised over $8 million, and their involvement in OrBit Markets, a liquidity provider in crypto options, which raised $4.6 million in an oversubscribed angel funding round. Their investments in companies like Maple Finance, a DeFi platform, further highlight their commitment to innovative financial solutions that intersect with asset management.


3. Fabric Ventures

  • Website: fabric.vc
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2012
  • Headcount: 11-50
  • Number of deals in 2024: 16
  • LinkedIn: fabricventures

Fabric Ventures is a venture capital firm based in Luxembourg, founded in 2012. The firm specializes in investing in the Open Economy, supporting early-stage companies across various sectors, including finance, gaming, and infrastructure. They provide not only venture capital but also business development support and community engagement to help startups succeed. Notable transactions include their investment in Centrifuge, which raised $3.7 million to facilitate asset-backed lending, and Flowdesk, which secured $30 million in a Series A round to enhance cryptocurrency trading services. Additionally, their participation in the funding of Crypto Valley Exchange and Angle Protocol highlights their commitment to innovative financial solutions, further aligning them with the asset management sector.


4. ABN AMRO Clearing Bank

  • Website: abnamro.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1982
  • Headcount: 501-1000
  • Number of deals in 2024: 19
  • LinkedIn: abn-amro-clearing-bank-n-v-

ABN AMRO Clearing Bank, founded in 1982 and based in Amsterdam, North Holland, Netherlands, is a banking institution that provides a comprehensive range of financial services, including personal banking, business banking, and investment management. The bank serves individual consumers and businesses, helping them manage their financial needs and investments while ensuring compliance with financial regulations. Notably, ABN AMRO has been active in the asset management space, exemplified by its acquisition of BethmannMaffei, which merged with Delbrck & Co to create a combined entity with over €10 billion in assets under management, positioning it among the top five private banks in Germany. In 2024, ABN AMRO further expanded its asset management footprint by acquiring Hauck Aufhaeuser Lamp Private Bank. Additionally, their involvement in funding rounds for fintech companies like BUX and CrossLend highlights their strategic interest in enhancing their investment management capabilities through innovative financial technologies.


5. Flow Traders

  • Website: flowtraders.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2004
  • Headcount: 501-1000
  • Number of deals in 2024: 18
  • LinkedIn: flow-traders

Flow Traders is a liquidity provider and market maker based in Amsterdam, Netherlands, founded in 2004. The firm specializes in institutional trading and digital assets, offering continuous liquidity across various asset classes. Their clientele primarily consists of institutional investors who depend on Flow Traders for efficient trading solutions and competitive pricing, especially during periods of market volatility. In 2022, Flow Traders participated in a Series A funding round for Ondo Finance, which raised $20 million, showcasing their interest in innovative financial solutions. In 2024, they were involved in seed rounds for ClearToken and Kemet Trading, raising $10 million and $5 million respectively. Additionally, they participated in the Series A funding for Membrane Labs, which raised $20 million, further emphasizing their commitment to supporting technology that enhances trading and liquidity in the crypto space. These transactions highlight Flow Traders' active engagement in the asset management context, particularly in the evolving landscape of digital finance.


6. MiddleGame Ventures


MiddleGame Ventures is a venture capital firm based in Luxembourg, founded in 2016. The firm specializes in investing in fintech startups, providing both capital and expertise to entrepreneurs in the financial services sector. Their investment strategy spans from Seed through Series B stages, with a strong emphasis on the digitization of financial services. Notably, MiddleGame Ventures has participated in several significant transactions that highlight their relevance in the asset management context. For instance, they were involved in the funding of Ctrl Alt, an alternative asset provider, and Capdesk, an equity management platform that raised £5 million in Series A extension funding. Additionally, they contributed to Keyrock's Series B funding round, which raised $72 million for a crypto market maker, showcasing their commitment to innovative financial solutions. These transactions reflect their active role in sectors that are closely related to asset management.


7. Sgh

  • Website: sghcapital.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: sghcapital

SGH Capital is a venture capital firm based in Luxembourg, founded in 2015. The firm specializes in investing in early and mid-stage disruptive companies across various sectors, including fintech and blockchain. SGH Capital provides capital and strategic support to innovative businesses primarily in the US and western Europe, helping them to grow and succeed in competitive markets. Notably, SGH Capital has participated in significant funding rounds for companies like Archax, a London-based digital assets exchange that raised $28 million in a Series A funding round, and Coinhouse, which raised $4.8 million in a Series A round. These transactions highlight SGH's commitment to investing in the evolving landscape of digital finance and asset management, positioning them as a relevant player in the asset management industry.


8. Prosus Group

  • Website: prosus.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2019
  • Headcount: 10001+
  • Number of deals in 2024: 21
  • LinkedIn: prosus-group

Prosus Group is a global technology investor and operator based in Amsterdam, Netherlands, focused on enhancing everyday life through technology. Founded in 2019, the firm operates across various sectors, including online classifieds, food delivery, payments, and education technology, serving over two billion customers worldwide. Prosus partners with local entrepreneurs to create valuable products and services, fostering community growth and sustainable business practices. In the asset management context, Prosus has made notable investments such as in Endowus, an Asia-based digital wealth platform that raised $35 million to expand its fee-only wealth management services. They also invested in Thndr, an Egyptian investment app that raised $20 million to democratize investing in the MENA region. Additionally, their participation in BUX, a neo-broker, highlights their engagement in the financial technology space, further solidifying their role as an investor in asset management-related ventures.


9. TMF Group

  • Website: tmf-group.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1988
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: tmf-group

TMF Group B.V. is a professional services firm based in Amsterdam, Netherlands, founded in 1988. The company specializes in providing critical administrative services, including accounting, tax, HR administration, and global payroll services, to a diverse clientele that includes corporates and financial institutions. In recent years, TMF Group has made significant strides in the asset management sector through strategic acquisitions. Notably, they acquired Vasco Trustees, an Australian fund services provider, in July 2024, which enhances their capabilities in fund management. Additionally, their acquisition of Gentoo Holdings Limited, a fund administration services provider based in Guernsey and Luxembourg, in August 2017, further strengthens their offerings in private equity and real estate. These transactions reflect TMF Group's strategic focus on expanding its presence and services in the asset management industry, particularly in fund administration and compliance.


10. Oikocredit

  • Website: oikocredit.coop
  • Type: Corporate
  • Headquarters: Amersfoort, Utrecht, Netherlands
  • Founded year: 1975
  • Headcount: 201-500
  • Number of deals in 2024: 12
  • LinkedIn: oikocredit

Oikocredit is a not-for-profit social investment organization based in Amersfoort, Utrecht, Netherlands, founded in 1975. It focuses on providing financial support to organizations in the financial inclusion, agriculture, and renewable energy sectors. Oikocredit aims to enhance the social impact of its partners, particularly those serving low-income communities, by offering loans and equity investments. In 2021, Oikocredit participated in a $10 million debt financing for First City Monument Bank, and in 2024, it was involved in a $10,055,848 debt financing for AfricInvest. Additionally, Oikocredit contributed to a private equity round for Leasafric Ghana, raising $760,351, and supported Access Bank with significant debt financing of $314,722,617 in July 2024, as well as a previous post-IPO debt of $162,500,000 in March 2019. These transactions highlight Oikocredit's active role in managing investments that align with its mission of social impact while also engaging in asset management practices.


11. Trgc

  • Website: trgc.io
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 18
  • LinkedIn: token-research-group

TRGC is an investment firm based in Amsterdam, Netherlands, founded in 2018. The firm specializes in digital assets and blockchain technology, focusing on innovative founders and companies. With a hands-on approach and over 15 years of industry experience, TRGC provides strategic guidance and support to help businesses achieve their funding and market goals. In 2024, TRGC was involved in several significant transactions, including a $15 million Series A investment in Centrifuge and a $10 million Series A investment in D2X Group. Additionally, they participated in seed rounds for companies like Usual, which raised $4.2 million. These transactions highlight TRGC's active role in the investment landscape, particularly in sectors that may align with asset management strategies.


12. Exor N.V.

  • Website: exor.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 26
  • LinkedIn: exor_2

Exor N.V. is a holding company based in Amsterdam, Netherlands, founded in 2009. It operates across various sectors, including automotive, healthcare, and media, and is known for managing a diverse portfolio of companies such as Ferrari, Stellantis, and Philips. Exor focuses on enhancing value through strategic investments and operational support. Notably, Exor has been involved in significant transactions relevant to the asset management context, including the acquisition of PartnerRe for $6.9 billion, which positions them in the insurance and reinsurance sector. Additionally, Exor has invested in fintech companies like Finhabits, which raised $5 million in a seed round, and Backed Finance, which raised $9.5 million in a Series A round in 2024. These investments reflect Exor's commitment to supporting innovative financial services that contribute to asset management.



Asset Management Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
CvcLuxembourg1001-5000200516
Maven 11Amsterdam, North Holland, Netherlands11-50201527
Fabric VenturesLuxembourg11-50201216
ABN AMRO Clearing BankAmsterdam, North Holland, Netherlands501-1000198219
Flow TradersAmsterdam, North Holland, Netherlands501-1000200418
MiddleGame VenturesLuxembourg1-1020164
SghLuxembourg1-1020153
Prosus GroupAmsterdam, North Holland, Netherlands10001+201921
TMF GroupAmsterdam, North Holland, Netherlands10001+19885
OikocreditAmersfoort, Utrecht, Netherlands201-500197512
TrgcAmsterdam, North Holland, Netherlands1-10201818
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926


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