The in-flight entertainment system industry in Benelux focuses on enhancing passenger experiences during air travel through audio-visual entertainment and connectivity solutions. Companies range from technology developers to service providers, offering products like seat-back screens, in-flight Wi-Fi, and content delivery systems. This sector is evolving, with increasing demand for personalized content, improved bandwidth availability, and integration of mobile devices. Innovations in connectivity, such as satellite communications, are set to revolutionize offerings, while environmental regulations prompt a movement towards more sustainable technologies. These advancements are crucial for airlines striving to boost service quality and customer satisfaction.


The investors listed here represent a mix of private equity firms, venture capitalists, and corporate entities strategically located across Benelux. Headquartered in cities like Luxembourg, Amsterdam, and Brussels, these investors vary in size, with most managing between 11 to 5000 employees. Founded over a span from 1934 to 2021, they have collectively influenced the in-flight entertainment system industry with a range of investments. In 2024, they completed various notable transactions, confirming their role in advancing innovations within this sector.


Top 12 in Flight Entertainment System Investors in Benelux


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC also provides business acceleration services, networking opportunities, and prizes to foster innovation in diverse sectors. Recently, the EIC has been involved in significant transactions within the aviation industry, such as its investments in Heart Aerospace, a Swedish company developing hybrid-electric aircraft, and Maeve Aerospace, a Dutch startup focused on full-electric regional airliners. These investments highlight the EIC's commitment to advancing innovative technologies in aviation, which could have implications for in-flight entertainment systems as the industry adapts to new technologies and sustainability goals.


2. 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 private equity firm based in Luxembourg, founded in 2005. It specializes in private equity, credit, secondaries, and infrastructure, 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. Among its notable transactions, CVC acquired Etraveli, a global flight-centric online travel agency, for €508 million, aiming to expand its international presence in the travel sector. Additionally, CVC's acquisition of Ontic Engineering and Manufacturing, an aerospace parts manufacturer, for $1.365 billion, highlights its commitment to the aviation industry. Furthermore, CVC's involvement in Avolon Holdings, an aircraft leasing group, and its participation in funding rounds for online travel agencies like HappyEasyGo, further solidify its strategic positioning within the travel and aviation sectors, which are closely related to in-flight entertainment systems.


3. SES Satellites

  • Website: ses.com
  • Type: Corporate
  • Headquarters: Betzdorf, Grevenmacher, Luxembourg
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: ses

SES S.A. is a satellite telecommunications provider based in Betzdorf, Luxembourg, founded in 1985. The company operates a fleet of over 70 satellites, providing a range of services including video broadcast and data connectivity solutions across various sectors such as broadcasting, government, and maritime. In 2024, SES announced its acquisition of U.S.-based Intelsat for $3.1 billion, which is expected to create the world's largest satellite services provider upon completion. This acquisition is particularly relevant as it enhances SES's capabilities in providing connectivity solutions that can be leveraged for in-flight entertainment systems. Additionally, SES has previously acquired SES Networks, which further strengthens its position in the satellite communications market, making it a significant player in the industry.


4. Mainport Innovation Fund


Mainport Innovation Fund II is a venture capital fund based in Amstelveen, North Holland, Netherlands, founded in 2009. The fund focuses on accelerating innovation in sustainable mobility, logistics, and aviation, providing funding and support to startups that aim to create climate impact solutions. They collaborate with major partners like KLM and Schiphol to enhance the success of their portfolio companies. Notable transactions include an investment in C Teleport, which raised EUR 1.2 million to develop an online platform for booking flight tickets, indicating a connection to the aviation sector. Additionally, they participated in funding for Aiir Innovations, which specializes in AI-based software for aircraft engine inspection, further demonstrating their engagement in aviation technology. These investments highlight their commitment to supporting innovations that could potentially intersect with in-flight entertainment systems.


5. Barco

  • Website: barco.com
  • Type: Corporate
  • Headquarters: Kortrijk, Flanders, Belgium
  • Founded year: 1934
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: barco

Barco NV, founded in 1934 and based in Kortrijk, Belgium, is a corporate investor specializing in digital projection and imaging solutions across various sectors, including healthcare, entertainment, and enterprise. The company has made several strategic acquisitions to enhance its product offerings and market position. Notably, Barco fully acquired Cinionic's premium cinema products business, strengthening its commitment to the global cinema industry, which parallels the in-flight entertainment sector. Other significant acquisitions include Element Labs, Medialon, and projectiondesign, all of which focus on enhancing visualization technologies. These transactions demonstrate Barco's dedication to innovation in imaging and projection, making it a relevant player in the in-flight entertainment system market.


6. HOWZAT Partners

  • Website: howzatpartners.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2006
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: howzat-media

HOWZAT Partners is a venture capital firm based in Luxembourg, founded in 2006. The firm specializes in investing in digital businesses and provides funding and strategic advisory services to early-stage companies. Their clientele primarily consists of entrepreneurs and startups seeking investment and guidance. Notable transactions include investments in Aero Glass, a company that may have applications in aviation, and Impala, a TravelTech API service that could be relevant to in-flight entertainment systems. Additionally, they have invested in Wingly, which focuses on travel, and SuitePad, which aims to expand into various markets, including hospitality. These investments suggest a broader interest in the travel and technology sectors, which could intersect with in-flight entertainment systems.


7. Graduate Entrepreneur Fund


The Graduate Entrepreneur Fund is a venture capital firm based in the Netherlands, founded in 2021. It specializes in providing funding and support to early-stage startups founded by alumni of the universities of Delft and Rotterdam. The fund typically invests between €75K to €2M, offering tailored support, coaching, and networking opportunities to help entrepreneurs navigate their challenges. Notably, the fund has participated in several transactions, including a significant investment in Fusion Engineering, a Dutch flight control startup, which raised €700k in its first investment round. This involvement highlights the fund's interest in the aviation sector. Additionally, the fund has invested in other startups like SPHERICAL, a space technology company, and Drop.in, a web-based guest app for hotels, showcasing its diverse investment portfolio while maintaining a connection to technology that could be relevant to in-flight entertainment systems.


8. Ferrovial

  • Website: ferrovial.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1952
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: ferrovial

Ferrovial is a corporate investor based in Amsterdam, Netherlands, founded in 1952. The company specializes in infrastructure and construction, providing services in highway construction, airport management, and energy solutions. With a workforce of over 10,000 employees, Ferrovial has made significant investments in the aviation sector, including the acquisition of major airports. Notably, they acquired a 20% stake in the Sydney Airport concession for €233 million, marking the largest airport privatization in history. Additionally, they have acquired 100% of Belfast City Airport for €49.3 million and Bristol Airport, further solidifying their presence in the UK airport management sector. These transactions highlight Ferrovial's commitment to enhancing airport infrastructure, which is closely linked to the in-flight entertainment system industry, as improved airport facilities can lead to better passenger experiences.


9. TKH Group

  • Website: tkhgroup.com
  • Type: Corporate
  • Headquarters: Haaksbergen, Overijssel, Netherlands
  • Founded year: 1930
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: tkh-group-n.v.

TKH Group is a corporate investor based in Haaksbergen, Overijssel, Netherlands, specializing in innovative solutions for automation, digitalization, and electrification. Founded in 1930, the company operates globally, providing smart vision, manufacturing, and connectivity systems across various sectors. In 2024, TKH Group acquired JCAI Inc, a company focused on guidance software for airports, which is expected to enhance their earnings and growth in the North American market. This acquisition reflects their commitment to improving airport operations, which can indirectly benefit in-flight entertainment systems by enhancing the overall travel experience. Additionally, TKH Group has made several other acquisitions, such as Park Assist and ParkEyes, which focus on vision technology and intelligent infrastructure, further demonstrating their investment in technologies that could intersect with the aviation and in-flight entertainment sectors.


10. Adara Ventures

  • Website: adara.vc
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: adara-venture-partners

Adara Ventures is a venture capital firm based in Luxembourg, founded in 2005, that specializes in early-stage technology investments across Europe. The firm partners with visionary founders in various sectors, including cybersecurity, digital health, and data applications. Notably, Adara Ventures has participated in funding rounds for Caravelo, a Barcelona-based travel tech company that raised €3.5 million in Series A funding in September 2023, aimed at enhancing travel subscriptions and platform capabilities. This investment indicates a strategic interest in the travel sector, which is relevant to in-flight entertainment systems. Additionally, Adara Ventures has been involved in other technology investments, such as Intelex Vision, which raised significant funding in 2021 and 2025, although these are less directly related to the in-flight entertainment context.


11. Axivate Capital

  • Website: axivate.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2012
  • Headcount: 1-10
  • LinkedIn: axivate-capital

Axivate Capital is a venture capital firm based in Amsterdam, Netherlands, founded in 2012. The firm actively participates in various sectors, including digital media, e-commerce, leisure, telecom, travel, and horeca. They provide investment and consulting services aimed at helping businesses scale and innovate, focusing on both innovative startups and established companies with growth potential. Notably, Axivate Capital was involved in a significant investment in Corendon Airlines, which raised an undisclosed amount in a private equity round in November 2016. This investment indicates their engagement in the travel sector, which could relate to in-flight entertainment systems. Additionally, they participated in a venture round for GET-E, raising approximately $2.5 million in January 2020, although the specifics of this transaction do not directly connect to in-flight entertainment. Their approach emphasizes collaboration with entrepreneurs to optimize operations and achieve market leadership, which could potentially extend to enhancing in-flight experiences.


12. H2 Equity Partners

  • Website: h2ep.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1991
  • Headcount: 11-50
  • LinkedIn: h2-equity-partners

H2 Equity Partners is a private equity investment firm based in Amsterdam, Netherlands, founded in 1991. The firm specializes in private equity investments in mid-sized companies across various sectors, providing hands-on support and consulting services to help management teams achieve growth and operational improvements. One of their notable transactions includes the acquisition of Multi Pilot Simulations on December 22, 2016. This company is involved in aviation training, which is relevant to the in-flight entertainment system industry as it relates to the broader aviation sector. H2 Equity Partners aims to enhance the performance of their portfolio companies, which may include those involved in in-flight entertainment systems.



in Flight Entertainment System Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
CvcLuxembourg1001-5000200516
SES SatellitesBetzdorf, Grevenmacher, Luxembourg1001-500019852
Mainport Innovation FundAmstelveen, North Holland, Netherlands11-5020090
BarcoKortrijk, Flanders, Belgium1001-500019341
HOWZAT PartnersLuxembourg1-1020062
Graduate Entrepreneur FundNetherlands11-5020219
FerrovialAmsterdam, North Holland, Netherlands10001+19521
TKH GroupHaaksbergen, Overijssel, Netherlands5001-1000019301
Adara VenturesLuxembourg11-5020055
Axivate CapitalAmsterdam, North Holland, Netherlands1-1020120
H2 Equity PartnersAmsterdam, North Holland, Netherlands11-5019910


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