The mail order pharmacy industry in Benelux is revolutionizing how consumers access medications and health products. E-commerce platforms, innovative technology, and growing consumer demand are pivotal in shaping this sector. Companies range from traditional pharmacies expanding their digital presence to modern startups offering unique healthcare solutions. They provide services like medication delivery, clinical advice, and personalized health products. Insights show that consumer preferences are shifting towards convenience and online accessibility, driven by advancements in logistics and technology. Collectively, these trends signal a promising future for mail order pharmacies, aiming to enhance service delivery and patient satisfaction.

In 2024, Benelux witnessed significant investment activity among mail order pharmacy investors, characterized by various types: venture capital, private equity, and corporate investors. These firms, headquartered in locations like Brussels and Luxembourg, differ in scale, with some managing thousands of employees while others are smaller boutique firms. Founded between the late 1990s and early 2000s, they executed a noteworthy number of deals—totaling from one to over twenty—in 2024. This dynamic mix demonstrates a robust interest in capturing opportunities within the evolving healthcare landscape of the region and supports the growth of online pharmacy services.

Top 13 Mail Order Pharmacy 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 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 has made significant investments in the healthcare sector, including the acquisition of Theramex, which focuses on women's health products, and Universal Health International, indicating a commitment to enhancing healthcare services. Additionally, CVC's acquisition of Cooper and Mehilainen further demonstrates its strategic interest in healthcare-related businesses, which may include mail order pharmacy operations. These transactions highlight CVC's capability to deliver sustainable value and growth through strategic investments in the healthcare industry.

2. Fagron

• Website: fagron.com
• Type: Corporate
• Headquarters: Rotterdam, South Holland, Netherlands
• Founded year: 1990
• Headcount: 1001-5000
• Number of deals in 2024: 1
• LinkedIn: fagron

Fagron is a corporate investor based in Rotterdam, South Holland, Netherlands, founded in 1990. The company specializes in personalized medicine and compounding services, providing customized treatment solutions for healthcare professionals and patients. Fagron's innovative products, such as Pentravan® and SyrSpend®, focus on effective medication delivery. In recent years, Fagron has made several strategic acquisitions to strengthen its position in the pharmacy sector. Notably, they acquired AnazaoHealth Corporation, a leading sterile compounding pharmacy in the U.S., and CareFirst Specialty Pharmacy, which enhances their presence in North America. Additionally, Fagron has expanded its portfolio with the acquisition of London Specialist Pharmacy and Letco Medical LLC, further solidifying their role in the mail order pharmacy industry.

3. 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 healthcare sector, including a $80 million Series C funding round for Oviva, a health tech startup, and multiple funding rounds for Practo, a healthcare platform that has raised substantial capital to expand its services. These investments indicate Sofina's commitment to supporting innovative healthcare solutions, which may align with the mail order pharmacy industry.

4. 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, founded in 2019. The firm focuses on enhancing everyday life through technology across various sectors, including online classifieds, food delivery, payments, and education technology, serving over two billion customers worldwide. Notably, Prosus has made significant investments in the mail order pharmacy sector, particularly through its involvement with PharmEasy, a leading online pharmacy in India. Prosus led a $350 million Series E funding round for PharmEasy in April 2021 and participated in subsequent funding rounds, including a $500 million Series F round in July 2021 and a recent $216 million round in April 2024. These investments highlight Prosus's commitment to supporting innovative healthcare solutions and enhancing access to pharmacy services through technology.

5. 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 venture capital firm based in Brussels, Belgium, founded in 1995. The firm focuses on high-growth consumer brands across various sectors, including food, beverage, health, and technology. Verlinvest provides long-term capital and strategic advisory services to help brands scale and innovate. Their portfolio includes a diverse range of companies that prioritize consumer needs and sustainable practices. Notably, Verlinvest participated in the Series A funding round for Genexa, a clean pharmaceutical company, which raised $60 million in 2021. This investment highlights their engagement in the health sector, which is relevant to the mail order pharmacy industry. Additionally, Verlinvest has been involved in significant funding rounds for other companies, showcasing their active role in supporting growth across various industries.

6. Astorg

• Website: astorg.com
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 1998
• Headcount: 51-200
• Number of deals in 2024: 8
• LinkedIn: astorg

Astorg is a private equity firm based in Luxembourg, founded in 1998, specializing in investments in global B2B companies. With €22 billion in assets under management, Astorg focuses on creating long-term value through a disciplined investment process and strong partnerships with entrepreneurs. They provide capital, strategic guidance, and governance to management teams across various sectors, including healthcare, technology, and business services. Notably, Astorg has made significant investments in the pharmaceutical industry, including the acquisition of a 60% stake in Groupe Ethypharm, a leader in oral drug delivery systems, which is highly relevant to mail order pharmacy operations. Additionally, their acquisition of Nemera, a manufacturer of drug delivery systems, and HRA Pharma further solidifies their involvement in the healthcare sector, indicating a strategic interest in companies that could intersect with mail order pharmacy services.

7. DOB Equity

• Website: dobequity.nl
• Type: Private Equity
• Headquarters: Veessen, Gelderland, Netherlands
• Founded year: 1997
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: dob-foundation

DOB Equity is an impact investment fund based in Veessen, Gelderland, Netherlands, founded in 1997. The firm focuses on supporting innovative and scalable companies in Eastern Africa, aiming to create social impact while ensuring long-term profitability for its portfolio companies. They provide funding and expertise to help entrepreneurs navigate challenges and contribute positively to their communities. Notable transactions include investments in Zuri Health, a digital healthcare company, and Ilara Health, a healthtech startup in Kenya that has raised significant funding to scale its tech-enabled primary care model. These investments highlight DOB Equity's commitment to enhancing healthcare access and technology in the region, which aligns with the evolving landscape of healthcare delivery, including potential mail order pharmacy services.

8. LIAN Group

• Website: liangroup.io
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn: liangroup

LIAN Group is a private equity investment firm based in Luxembourg, founded in 2017. The firm specializes in building and funding successful companies across impactful industries, providing venture capital and private equity services. They focus on rapidly expanding tech companies and SMEs in Europe, offering operational support and resources through their Venture Studio to help startups achieve product-market fit and grow effectively. Notably, LIAN Group was involved in the Series D funding round for Alto Pharmacy, a digital pharmacy and drug delivery company, which raised over $350 million, highlighting their engagement in the mail order pharmacy sector and their commitment to investing in innovative healthcare solutions.

9. Triton Partners

• Website: triton-partners.com
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 1997
• Headcount: 201-500
• Number of deals in 2024: 6
• LinkedIn: 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 healthcare sector, including the acquisition of Atnahs, a specialty pharmaceutical business, and MaskMedicar, which may operate in the pharmaceutical distribution space. These transactions highlight Triton's commitment to investing in companies that could be relevant to the mail order pharmacy industry.

10. 7GC & Co

• Website: 7gc.co
• Type: Corporate
• Headquarters: Luxembourg
• Founded year: 2016
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: 7-global-capital

7GC & Co. is an investment management firm based in Luxembourg, specializing in growth-stage internet businesses. Founded in 2016, the firm manages approximately $400 million in assets and focuses on facilitating access to European markets for US tech companies. Notably, 7GC & Co has participated in significant funding rounds for Capsule, a digital pharmacy, including a $50 million Series B round in August 2018 and a $200 million Series C round in September 2019. These investments highlight their engagement in the mail order pharmacy sector, showcasing their interest in innovative healthcare solutions.

11. M Ventures

• Website: m-ventures.com
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 2009
• Headcount: 11-50
• Number of deals in 2024: 18
• LinkedIn: merck-ventures

M Ventures is a venture capital fund based in Amsterdam, Netherlands, founded in 2009. The firm specializes in investing in transformative ideas within the biotechnology and technology sectors, with a strong focus on healthcare and life sciences. M Ventures collaborates closely with entrepreneurs to drive innovation and growth in their portfolio companies. Notably, M Ventures participated in the Series B funding round for Medisafe, a company that provides end-to-end solutions for patients managing medications, which is directly relevant to the mail order pharmacy industry. Their investment in Medisafe, alongside other prominent investors, highlights their commitment to supporting startups that enhance medication management and patient adherence, making them a significant player in the healthcare investment landscape.

12. Mangrove Capital Partners

• Website: mangrove.vc
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2000
• Headcount: 11-50
• Number of deals in 2024: 5
• LinkedIn: mangrove-capital-partners

Mangrove Capital Partners is a venture capital firm based in Luxembourg, founded in 2000. The firm specializes in early-stage investments in innovative technology companies, providing both financial support and strategic guidance to entrepreneurs. Their focus is primarily on sectors such as digital health and education tech, with operations concentrated in Europe and Israel. Notably, Mangrove has been involved in several funding rounds for K Health, an AI-driven personalized care startup, raising significant amounts over multiple rounds, including $88.4 million in July 2024 and $59 million in July 2023. These transactions highlight their commitment to investing in health technology, which could be relevant to the mail order pharmacy industry as it evolves with digital health solutions.

13. Vendis Capital

• Website: vendiscapital.com
• Type: Private Equity
• Headquarters: Machelen, Flanders, Belgium
• Founded year: 2009
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn: vendis-capital

Vendis Capital is a private equity investment firm based in Machelen, Flanders, Belgium, founded in 2009. The firm specializes in consumer scale-ups, providing capital and strategic support to help businesses grow internationally and implement effective digitalization strategies. Vendis Capital partners with entrepreneurs to enhance market presence and achieve sustainable growth. Notable transactions include their investment in Sylphar, a Belgium-based OTC company, which highlights their involvement in the healthcare sector. Additionally, they have acquired the Dutch medispa chains SOAP and BM Clinics, indicating a broader interest in health-related businesses. Their portfolio also includes eyes+more, acquired in 2010, further showcasing their commitment to consumer-focused investments.

Mail Order Pharmacy Insights: Key Investors in Benelux

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