The health supplement industry in Benelux plays a crucial role in promoting wellness and nutrition. It hosts companies dedicated to producing vitamins, minerals, protein powders, herbal remedies, and more. Demand is rising, driven by an aging population and growing health awareness. Innovative startups are exploring clean-label supplements, while established firms are focusing on sustainability in production. Moreover, personalized nutrition is becoming a key trend, catering to individual dietary needs. The focus on research and technology underscores the industry’s future, suggesting substantial growth ahead as consumers seek tailored solutions for their health and well-being.


In this competitive ecosystem, the investor landscape comprises a mix of venture capital firms, corporate investors, and private equity groups. Headquartered across major cities like Brussels, Luxembourg, and Amsterdam, these investors vary in size from startups to large established entities. Founded over decades ranging from the late 19th century to 2005, their combined deal count in 2024 highlights an appetite for innovation. Investors such as dsm-firmenich and CVC Capital Partners made strides supporting transformative health initiatives, illustrating the robust interest in nurturing emerging companies within the health supplement sector.


Top 13 Health Supplement Investors in Benelux


1. dsm-firmenich

  • Website: dsm-firmenich.com
  • Type: Venture Capital
  • Headquarters: Maastricht, Limburg, Netherlands
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: dsmfirmenich

dsm-firmenich is a for-profit company based in Maastricht, Limburg, Netherlands, operating primarily in the nutrition, health, and beauty sectors. The company offers a diverse range of products, including fragrances, nutritional supplements, and active pharmaceutical ingredients. As a venture capital investor, dsm-firmenich has been actively involved in funding innovative companies within the health supplement industry. Notable transactions include EyePromise, which raised $3 million in 2014, and Rootine, which secured $3 million in a seed round in 2021. In 2022, they led a $6.5 million Series A round for Momentous, a company focused on human performance, and co-led a Series A investment in VitaminLab in 2023 to support its expansion. Additionally, they participated in a $7 million Series A round for OK Capsule in early 2023. These investments highlight dsm-firmenich's commitment to enhancing product offerings in the health supplement space and addressing sustainability challenges in the industry.


2. 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 provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in several transactions relevant to the health supplement industry, such as Vésale Pharma, which raised $1,910,232 in a grant in December 2022, and S-Biomedic, which received both a venture round and a grant totaling $1,427,135 in October 2019. Additionally, Antofenol and Nemysis also received grants from the EIC, further demonstrating its active role in supporting health supplement-related ventures.


3. 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 private equity firm based in Luxembourg, founded in 2005. The firm 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 has made significant strides in the health supplement sector, most notably through its investment in Sunday Natural, a leading brand for premium vitamins, minerals, and supplements, announced on January 15, 2024. This partnership aims to enhance the scaling and international reach of Sunday Natural, showcasing CVC's commitment to supporting growth in the health supplement market. Additionally, CVC's broader investment strategy includes various sectors, indicating a versatile approach to investment opportunities.


4. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg that provides financial services, including loans, equity investments, guarantees, and advisory services, to support sustainable projects across various sectors. Founded in 1958, the EIB aims to promote growth and job creation by funding initiatives from both public and private organizations. Among its notable transactions in the health supplement context, the EIB has invested in Nuritas, an Irish biotech company focused on developing new therapeutics, and in Devenish Nutrition, which is dedicated to research and innovation in animal nutrition and health. Additionally, the EIB has supported Inbiose, a Belgian biotech SME, with a loan to enhance its research and development efforts. These investments highlight the EIB's commitment to supporting health-related innovations and projects, reinforcing its role as a significant player in the health supplement industry.


5. PeakBridge


PeakBridge VC is a venture capital firm based in Luxembourg, founded in 2018, specializing in FoodTech investments. The firm supports early-stage founders and businesses in the food industry by providing investment, consulting services, and access to a vast network of industry experts. Their focus is on innovative solutions that address significant challenges in the global food system. Notably, PeakBridge has been involved in several relevant transactions in the health supplement sector, including iwi Life, which raised $10 million in Series A funding in December 2022, and Prenexus Health, which raised an undisclosed amount in Series A funding in April 2020. These investments highlight PeakBridge's engagement with companies that contribute to health and nutrition, making them a key player in the intersection of FoodTech and health supplements.


6. Verlinvest

  • Website: verlinvest.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: verlinvest

Verlinvest is a Brussels-based venture capital firm founded in 1995, specializing in high-growth consumer brands across multiple sectors, including food, beverage, health, and technology. The firm provides long-term capital and strategic advisory services to help brands scale and innovate. Notably, Verlinvest has made significant investments in the health supplement space, including a Series A funding round for Genexa, a clean pharmaceutical company, and a lead investment in Sambazon, which focuses on premium acai products. These transactions highlight Verlinvest's commitment to supporting brands that prioritize health and wellness, as well as sustainable practices in their operations. Their diverse portfolio reflects a strategic approach to investing in consumer needs, particularly in the health supplement industry.


7. Sofina

  • Website: sofinagroup.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1898
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: sofina

Sofina is a venture capital investment company based in Brussels, Belgium, founded in 1898. It specializes in providing patient capital to growing businesses across various sectors, including telecommunications, consumer goods, and energy. Sofina partners with entrepreneurs and family-owned businesses, offering strategic advice and long-term investment solutions to foster sustainable growth. Notably, Sofina has made significant investments in the health supplement industry, including a $25 million investment in HealthKart, which focuses on expanding its omnichannel nutrition platform and launching new D2C nutrition brands. Additionally, Sofina invested in The Whole Truth, a company that raised $15.3 million in Series C funding, further emphasizing its commitment to the health supplement sector. Their co-lead investment in Oviva, a health tech startup, also highlights their interest in health-related ventures, showcasing a diverse portfolio that includes a strong focus on health and nutrition.


8. Eurofins

  • Website: eurofins.com
  • Type: Corporate
  • Headquarters: Luxembourg
  • Founded year: 1987
  • Headcount: 10001+
  • Number of deals in 2024: 8
  • LinkedIn: eurofins

Eurofins Scientific SE is a prominent laboratory testing company founded in 1987, headquartered in Luxembourg. With a workforce of over 10,000 employees and a global presence, Eurofins operates more than 900 laboratories across 62 countries. The company specializes in a wide range of analytical and testing services, catering to various industries, including pharmaceuticals, food, and environmental sectors. Eurofins has made several strategic acquisitions to enhance its capabilities and market presence. Notably, the acquisition of Boston Heart Diagnostics in December 2014 for $140 million highlights their interest in health diagnostics, which is relevant to the health supplement industry. Additionally, their acquisition of SYNLAB España and other laboratories further strengthens their position in the testing and diagnostics market, which can indirectly support health supplement companies by ensuring product quality and compliance.


9. Nutreco

  • Website: nutreco.com
  • Type: Corporate
  • Headquarters: Amersfoort, Utrecht, Netherlands
  • Founded year: 1994
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: nutreco

Nutreco is a corporate investor based in Amersfoort, Utrecht, Netherlands, specializing in animal nutrition. Founded in 1994, the company has grown to employ over 10,000 people and focuses on providing innovative feed solutions for livestock and aquaculture. Nutreco's commitment to enhancing productivity and supporting animal health is evident in their strategic acquisitions. Notably, they acquired Bellman Nutriçao Animal Ltda., a Brazilian company specializing in farm minerals and supplements for ruminants, which enhances their position in the agricultural market. Additionally, their acquisition of Animal Nutrition and Health (ANH) in South Africa and Hi-Pro Feeds in North America further solidifies their footprint in the animal health sector. Most recently, Nutreco invested in BiomEdit, a company involved in health-related solutions, indicating their ongoing interest in the health supplement space.


10. Astanor

  • Website: astanor.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: astanor-venture

Astanor is an impact investment firm based in Luxembourg, founded in 2017, that focuses on the agrifood tech sector. They aim to support innovative companies that create sustainable food systems through strategic guidance and investment. Astanor has been actively involved in several transactions relevant to the health supplement industry, including investments in 'Heali AI', a digital food as medicine platform that raised $3 million in seed funding to expand its product offerings for medically tailored meal suggestions. Additionally, they invested $18.4 million in 'Digestiva' in a Series A round, which likely pertains to digestive health supplements. Other notable investments include 'the gut stuff' and 'Unlocked Labs', both of which are related to health and nutrition. Astanor's commitment to sustainability and health innovation positions them as a significant player in the health supplement space.


11. Gilde Healthcare


Gilde Healthcare is a venture capital firm based in Utrecht, Netherlands, founded in 1982. It manages over €2.6 billion across two fund strategies: Venture & Growth and Private Equity. The firm focuses on innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Notably, Gilde Healthcare has been involved in several significant transactions, including multiple funding rounds for Ablynx, a company known for its Nanobody platform, which has potential applications in health supplements and therapeutics. Their investments in companies like Conatus Pharmaceuticals further demonstrate their commitment to the healthcare sector, which may include health supplement innovations. Gilde Healthcare's strategic support and capital provision to healthcare businesses position them as a key player in the health supplement investment landscape.


12. Azelis

  • Website: azelis.com
  • Type: Corporate
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 2001
  • Headcount: 1001-5000
  • Number of deals in 2024: 5
  • LinkedIn: azelis

Azelis is a specialty chemical distributor and innovation service provider based in Antwerp, Belgium, founded in 2001. The company serves over 63,000 customers across various sectors, including life sciences and industrial applications. Azelis has been actively expanding its portfolio through acquisitions, particularly in the health supplement and life sciences sectors. Notable transactions include the acquisition of Ingredi AB, a distributor of raw materials and ingredients for the Swedish food and health industry, which enhances their capabilities in the health supplement market. Additionally, their acquisition of Megafarma, a specialty distributor for the pharma, food, and veterinary industries, further strengthens their presence in the life sciences sector. These strategic moves demonstrate Azelis's commitment to providing high-quality raw materials and innovative solutions tailored to the health supplement industry.


13. 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 manages 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 participated in significant transactions within the healthcare space, including a pre-seed investment in Holifya, a digital health startup, which raised 500,000 euros. This investment highlights Exor's commitment to supporting innovative health solutions. Additionally, Exor has been involved in other funding rounds, such as those for Alan, a health insurance startup, indicating a broader interest in health-related ventures. These activities position Exor as a relevant player in the health supplement investment landscape.



Health Supplement Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
dsm-firmenichMaastricht, Limburg, Netherlands10001+3
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
CvcLuxembourg1001-5000200516
European Investment Bank (EIB)Luxembourg1001-5000195899
PeakBridgeLuxembourg11-5020188
VerlinvestBrussels, Brussels, Belgium11-5019955
SofinaBrussels, Brussels, Belgium51-20018984
EurofinsLuxembourg10001+19878
NutrecoAmersfoort, Utrecht, Netherlands10001+19941
AstanorLuxembourg11-50201710
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
AzelisAntwerp, Flanders, Belgium1001-500020015
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926


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