The cold storage industry in Benelux plays a pivotal role in the supply chain by ensuring the safe handling and storage of temperature-sensitive products. This sector includes companies specializing in logistics, warehousing, and distribution of perishable goods like fresh produce, pharmaceuticals, and frozen items. With an increase in e-commerce and heightened demand for fresh food delivery, the industry is expected to grow significantly. Interesting trends include the adoption of advanced technology for temperature monitoring, automation in storage facilities, and a stronger focus on sustainable practices to reduce environmental impact, driving the industry towards a more efficient future.


The investors featured in this list represent a mix of venture capital and private equity firms with headquarters in the Netherlands, Luxembourg, and Belgium. Their sizes vary, from smaller outfits with less than ten employees to large organizations boasting over 5,000 staff members. Founded between 1926 and 2021, they have collectively engaged in 112 investment deals throughout 2024 largely within sectors related to cold storage and logistics. This matrix of investor types highlights their varying approaches to capital allocation in response to a burgeoning market.


Top 12 Cold Storage 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 prominent investment firm based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. Founded in 2005, CVC manages approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. The firm focuses on delivering sustainable value and growth through strategic investments. Notable transactions include the acquisition of Hermes for $400 million in 2020 and Scan Global Logistics in 2023, which highlights their engagement in the logistics sector. These transactions suggest a potential interest in supply chain solutions, including cold storage, although they do not exclusively focus on this area.


2. Mutares Benelux

  • Website: mutares.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn: mutares-benelux

Mutares Benelux is a private equity firm based in Amsterdam, North Holland, Netherlands, founded in 2021. The firm specializes in acquiring and managing companies in transition, providing operational support and consulting services to enhance profitability and growth across various sectors, including automotive, technology, and retail. Notably, Mutares has made significant strides in the cold storage industry, exemplified by their acquisition of Frigoscandia Distribution, a prominent Nordic provider of logistics solutions for fresh, chilled, and frozen foods, which is projected to generate nearly EUR 300 million in revenue. This strategic acquisition highlights Mutares' commitment to expanding its portfolio in the cold storage sector, alongside other investments such as GDL and Alcura, which further demonstrate their diverse investment strategy.


3. InnoEnergy

  • Website: innoenergy.com
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 52
  • LinkedIn: innoenergy

EIT InnoEnergy is a not-for-profit organization founded in 2010, based in Eindhoven, North Brabant, Netherlands, dedicated to accelerating sustainable energy innovations. It serves as a marketplace for energy solutions, offering training programs and support for innovators and corporates in the energy sector. InnoEnergy collaborates with various stakeholders to tackle challenges related to energy transition and sustainability. Notably, InnoEnergy has been involved in several transactions that highlight its commitment to energy storage solutions, including a recent investment in AquaBattery, which raised €6 million to develop a sustainable energy storage solution based on salt water. This investment is particularly relevant to the cold storage industry, as it emphasizes the importance of energy storage technologies in managing energy resources effectively. Additionally, InnoEnergy has participated in funding rounds for other companies like HSL Technologies and DCbrain, which, while not directly related to cold storage, showcase their broader focus on innovative energy solutions.


4. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock their full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has made significant investments in the cold storage sector, including the acquisition of Frigoscandia Distribution in 2002, which specializes in temperature-controlled logistics and cold storage solutions. In 2022, they acquired Kälte Eckert GmbH, a supplier of air conditioning and environment-friendly cooling systems, further emphasizing their commitment to businesses that support cold storage operations. These transactions highlight Triton's strategic interest in the cold storage industry, alongside their broader investment portfolio.


5. VentureFriends

  • Website: venturefriends.vc
  • Type: Venture Capital
  • Headquarters: Netherlands
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 8
  • LinkedIn: venturefriends

VentureFriends is a venture capital firm based in the Netherlands, founded in 2016, that specializes in early-stage investments in startups. They provide financial backing and strategic support to ambitious founders, particularly in sectors like FinTech and PropTech. Notably, VentureFriends has invested in companies related to storage and logistics, such as Stasher, a UK-based luggage storage network that raised $2.5 million in funding led by them, and CityStasher, which raised $1.1 million in seed funding. Additionally, they have invested in byrd, a logistics startup that raised significant funding in both Series A and Series B rounds. These transactions highlight VentureFriends' engagement in the storage and logistics space, making them a relevant player in the cold storage context.


6. bpost

  • Website: bpost.be
  • Type: Corporate
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2002
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: bpost

bpost is a corporate investor based in Brussels, Belgium, primarily known as a postal service and logistics provider. Founded in 2002, bpost offers a range of services including mail delivery, parcel shipping, and logistics solutions for both consumers and businesses. In recent years, bpost has made significant acquisitions to enhance its logistics capabilities. Notably, in 2018, bpost acquired Leen Menken Foodservice Logistics B.V., a Dutch company specializing in the logistics of fresh and frozen food products, which positions bpost within the cold storage logistics sector. Furthermore, in 2024, bpost acquired Staci for approximately $1.41 billion, expanding its logistics portfolio. Other acquisitions include Landmark Global Inc. and Radial, both aimed at enhancing bpost's e-commerce logistics solutions. These strategic moves reflect bpost's commitment to diversifying its logistics operations, including those relevant to cold storage.


7. Triodos Investment Management


Triodos Investment Management is an impact investment firm based in Driebergen-Rijsenburg, Utrecht, Netherlands, founded in 1994. The firm focuses on generating social and environmental impact alongside financial returns, offering a range of investment strategies across various themes, including energy, climate, and sustainable agriculture. In 2024, they were involved in a significant transaction with SureChill, which raised $4 million in debt financing, a company that specializes in temperature-controlled storage solutions. Additionally, they have participated in funding rounds for Ecozen, a deep tech startup that may have applications in sustainable agriculture and cold storage technologies. Their investments reflect a commitment to aligning financial returns with positive environmental impacts, making them a suitable candidate for inclusion in the cold storage investor category.


8. Ctp

  • Website: ctp.eu
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1998
  • Headcount: 501-1000
  • Number of deals in 2024: 1
  • LinkedIn: ctp-invest

CTP is a corporate investor based in Amsterdam, Netherlands, founded in 1998. The company specializes in the development and management of industrial and logistics properties across Europe, providing tailored leasing solutions to businesses in various sectors. CTP is committed to sustainability and offers comprehensive property management services to ensure operational efficiency for its clients. Notable transactions include the acquisition of Equest Logistic Park, which expanded their logistics portfolio in Romania by 57,000 m2, and the acquisition of Levante Logistics from the Kenzai Group. These transactions highlight CTP's focus on enhancing their logistics capabilities, which may include cold storage facilities as part of their broader logistics strategy.


9. Finindus

  • Website: finindus.be
  • Type: Venture Capital
  • Headquarters: Zelzate, Flanders, Belgium
  • Founded year: 1926
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: finindus

Finindus is a venture capital firm based in Zelzate, Flanders, Belgium, founded in 1926. The firm specializes in providing early-stage and growth financing to innovative technology companies, particularly in the fields of materials, sustainable manufacturing, and industry 4.0. They emphasize proactive and pragmatic assistance to maximize long-term value creation for their portfolio companies. In 2023, Finindus participated in a Series B funding round for Kraftblock, a Germany-based energy storage startup, which raised €20M to expand its production capacity and tackle energy-intensive industries. This investment aligns with their focus on sustainable technologies. Additionally, they have been involved in other transactions such as Power to Hydrogen, which raised $18M in a Series A round, indicating their commitment to innovative energy solutions that could also impact cold storage applications.


10. AAC Capital Partners


AAC Capital Partners is a private equity investment firm based in Amsterdam, Netherlands, founded in 1982. The firm specializes in supporting mid-sized businesses in the Benelux region by providing growth capital and strategic guidance to help them achieve their international growth ambitions. AAC Capital focuses on fostering entrepreneurship and sustainable growth through partnerships with management teams. Notably, they acquired a majority stake in Envirotainer in 2010, a manufacturer of temperature-controlled containers for the pharmaceutical industry, which aligns with the cold storage sector. This investment highlights their capability and interest in businesses that operate within the cold storage context, further emphasizing their relevance in this industry.


11. 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 focuses on investing in the Open Economy, supporting founders and startups across various sectors, including finance, gaming, and infrastructure. They provide venture capital, business development support, and community engagement to help early-stage companies succeed. Notably, Fabric Ventures has invested in Casa, a startup that helps consumers securely store cryptocurrencies, raising $2.1 million in funding. This investment highlights their interest in the cold storage space, as Casa's product is designed to create secure storage solutions for virtual assets. Additionally, Fabric Ventures has been involved in other transactions, such as Winechain and Orchid Labs, but Casa is particularly relevant to the cold storage context.


12. Cobepa

  • Website: cobepa.com
  • Type: Private Equity
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1957
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: cobepa

Cobepa is a private equity investment company based in Brussels, Belgium, founded in 1957. It specializes in providing investment management and strategic support to enhance the growth and sustainability of its partner businesses. Cobepa operates with a permanent capital base, allowing it to invest across various industries, including healthcare and industrial sectors. Notably, Cobepa acquired Staci, a prominent pan-European third-party logistics provider, in 2017, which positions them within the logistics space that often intersects with cold storage needs. Additionally, their involvement in other ventures, such as Zetes and Carmeuse Group, showcases their diverse investment portfolio, although these transactions are less directly related to cold storage.



Cold Storage Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
CvcLuxembourg1001-5000200516
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
InnoEnergyEindhoven, North Brabant, Netherlands201-500201052
Triton PartnersLuxembourg201-50019976
VentureFriendsNetherlands1-1020168
bpostBrussels, Brussels, Belgium10001+20021
Triodos Investment ManagementDriebergen-Rijsenburg, Utrecht, Netherlands201-50019946
CtpAmsterdam, North Holland, Netherlands501-100019981
FinindusZelzate, Flanders, Belgium1-1019266
AAC Capital PartnersAmsterdam, North Holland, Netherlands11-5019821
Fabric VenturesLuxembourg11-50201216
CobepaBrussels, Brussels, Belgium11-5019572


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