The medical devices industry in Benelux showcases innovation and growth, characterized by a vibrant community of companies developing advanced technologies. Key players range from startups to established firms, producing everything from surgical instruments to diagnostics and wearable health tech. The industry is increasingly driven by digital transformation, including telemedicine and remote monitoring solutions, pushing the boundaries of patient care. As populations age and healthcare demands rise, the focus is on creating efficient, effective tools that enhance diagnostics and treatment. Significant investments are funneled into research and development, propelling Benelux's position as a hub for medical innovation.


This list of prominent investors in the Benelux medical devices sector includes corporate and venture capital firms. With headquarters locations across Belgium and the Netherlands, these investors range from newly established to long-standing entities, reflecting varied experience levels in the market. Their deal counts for 2024 range from 3 to 99, showcasing active engagement and commitment to funding innovative medical technologies. With sizes that include small teams of less than ten to large firms with over 5,000 employees, they are positioned to support various stages of growth for aspiring medical device companies.


Top 13 Medical Devices 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. It 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 significant transactions within the medical devices sector, such as providing blended funding of up to €17.5 million to CARMAT, which includes a non-dilutive grant and potential equity financing. Additionally, the EIC Fund participated in Corwave's funding rounds, including a €35 million investment in a Series C round. These transactions highlight the EIC's active role in supporting medical device innovation.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services. The EIB focuses on supporting sustainable projects across various sectors, including healthcare and medical devices. Notably, the EIB has been involved in several significant transactions within the medical devices sector, such as providing debt financing to Ottobock, a leader in prosthetics, and CARMAT, which specializes in innovative heart devices. Additionally, the EIB has supported Demant A/S, known for its hearing aids and audiometric equipment, as well as Robocath, which develops robotic solutions for cardiovascular interventions, and Aerogen, a company focused on aerosol drug delivery systems. These investments highlight the EIB's commitment to fostering growth and innovation in the medical devices industry.


3. Life Sciences Partners (LSP)

  • Website: lspvc.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1987
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: lsp-bioventures

Life Sciences Partners (LSP) is an investment firm based in Amsterdam, Netherlands, founded in 1987. The firm specializes in private equity investments within the healthcare sector, connecting investors with innovative healthcare companies. LSP focuses on drug development and medical technology, aiming to foster advancements that address unmet medical needs. Notably, LSP has been involved in several funding rounds for Xeltis, a company dedicated to developing polymer-based heart valve replacements. In 2023, LSP participated in a Series D funding round for Xeltis, raising over $13 million, and previously contributed to a Series C round that raised $52 million, supporting clinical activities and product development for heart valve programs. These transactions highlight LSP's commitment to investing in medical devices and technology, reinforcing their relevance in this sector.


4. Gilde Healthcare


Gilde Healthcare is a venture capital firm based in Utrecht, Netherlands, specializing in healthcare investments. Founded in 1982, the firm manages over €2.6 billion across two fund strategies: Venture & Growth and Private Equity. Gilde Healthcare focuses on innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Notably, Gilde has been involved in several key transactions in the medical devices sector, including leading a $27 million Series C financing for Inari Medical, which focuses on innovative medical devices for treating venous thromboembolism. Additionally, Gilde has participated in multiple funding rounds for Vapotherm, a manufacturer of advanced respiratory care devices, including a $45 million Series D round and a $20 million Series C round. These transactions highlight Gilde Healthcare's active role in supporting and advancing medical device companies, reinforcing its position as a significant investor in the medical devices industry.


5. Forbion

  • Website: forbion.com
  • Type: Venture Capital
  • Headquarters: Naarden, North Holland, Netherlands
  • Founded year: 2006
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: forbion-capital-partners

Forbion is a venture capital firm founded in 2006, located in Naarden, North Holland, Netherlands. The firm specializes in the life sciences and bioeconomy sectors, providing investment management and support to biotech companies to help them develop innovative therapies and technologies. Forbion collaborates with entrepreneurs and academic institutions to address unmet medical needs and improve patient outcomes. Notably, Forbion has been involved in significant transactions in the medical devices sector, including a $40 million investment in Impella Cardiosystems, which focuses on heart pump technology, and participation in a Series D financing round for Autonomic Technologies, which is engaged in medical technology development. Additionally, Forbion led a financing round for Oxular, which is working on treatments for diabetic macular edema, further showcasing its commitment to advancing medical technologies.


6. 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 emphasis on healthcare and life sciences. M Ventures provides funding and strategic guidance to startups, helping them achieve commercial success. Notably, M Ventures has been involved in several significant transactions in the medical devices context, particularly with Biolinq, which raised a total of $100 million across multiple funding rounds (Series A, B, and C) to support the growth of its technology platform and clinical studies. This involvement highlights M Ventures' active role in advancing medical technology and innovation.


7. Gimv

  • Website: gimv.com
  • Type: Venture Capital
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 1980
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: gimv

Gimv is a venture capital investment firm based in Antwerp, Flanders, Belgium, founded in 1980. The firm partners with innovative companies across various sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Notably, Gimv has been actively involved in the medical devices sector, particularly through its investments in JenaValve Technology, a company focused on developing transcatheter aortic valve implantation systems. Gimv participated in several funding rounds for JenaValve, including a $100 million Series C financing in 2022 and previous rounds totaling over $72 million. These investments highlight Gimv's commitment to advancing medical technology and supporting companies that are navigating regulatory approvals and clinical trials in the medical devices space.


8. Brabantse Ontwikkelings Maatschappij (BOM)


Brabantse Ontwikkelings Maatschappij (BOM) is a venture capital development agency based in Tilburg, North Brabant, Netherlands, founded in 1983. BOM supports startups and scale-ups in the Brabant region by offering various programs aimed at enhancing business growth, including readiness programs for venture capital and innovation in sustainable food and energy sectors. Notably, BOM has made significant investments in the medical devices sector, including a seed investment in STENTiT, a MedTech company focused on regenerative stents, which raised €1.8 million in April 2022. Additionally, BOM participated in a €7 million funding round for Vivolta in June 2023, a company that enhances its proprietary MediSpinTM platform, indicating their commitment to advancing medical technology. BOM's collaborative approach provides funding, expertise, and networking opportunities, facilitating success in competitive markets, including the medical devices industry.


9. Noshaq

  • Website: noshaq.be
  • Type: Venture Capital
  • Headquarters: Belgium
  • Founded year: 1985
  • Headcount: 11-50
  • Number of deals in 2024: 11
  • LinkedIn: noshaq-be

Noshaq is a venture capital investment fund based in Belgium, founded in 1985, that provides financial solutions and strategic support to small and medium-sized enterprises (SMEs) in the province of Liege. The firm focuses on funding, project structuring, and business development, particularly in sectors such as biotech and sustainable development. Notably, Noshaq has been involved in significant transactions within the medical devices sector, including an €18 million financing round for Intressa Vascular, a clinical-stage MedTech company, and multiple funding rounds for Miracor Medical, which specializes in innovative medical technologies. These investments demonstrate Noshaq's commitment to fostering growth and innovation in the medical devices industry, alongside their broader investment strategy.


10. 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 investment 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 notable investments in the medical devices sector, including the acquisition of Spectrum Medical Group, a Gloucester-based medical device company valued at up to £1bn, and the acquisition of Therakos from Mallinckrodt for an enterprise value of $925 million, expected to close in late 2024. Additionally, CVC's involvement with Rayner Surgical Group and Sebia further highlights their strategic focus on expanding their portfolio in the medical devices industry, showcasing their commitment to delivering sustainable value and growth through targeted investments in this sector.


11. NLC - The European Healthtech Venture Builder

  • Website: nlc.health
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: nlc-next-level-challenge

NLC - The European Healthtech Venture Builder is a corporate investor based in Amsterdam, Netherlands, founded in 2014. They specialize in venture building and healthcare innovation, particularly in the realm of medical technology solutions for neonatal care. Their investment portfolio includes notable transactions such as Bilihome B.V., which raised funds for its smart wearable light therapy device aimed at treating jaundice in newborns, and Concord Neonatal, which focuses on neonatal healthcare innovations. Other relevant investments include Venous Stent BV and Haermonics, both of which are involved in medical device development. NLC's business model emphasizes collaboration with healthcare providers and investors to foster innovation in the medical technology sector, making them a key player in the medical devices landscape.


12. Thuja Capital

  • Website: thujacapital.com
  • Type: Venture Capital
  • Headquarters: Utrecht, Utrecht, Netherlands
  • Founded year: 2006
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: thuja-capital

Thuja Capital Management BV is a venture capital firm based in Utrecht, Netherlands, founded in 2006. The firm specializes in healthcare investments, focusing on supporting innovative healthcare ventures from start-up to scale-up. Thuja Capital provides funding and strategic guidance to companies in the biotech and medtech sectors. Notable transactions include their participation in the €14m Series A financing round for Gradient Denervation Technologies, which is developing an ultrasound-based catheter device, and their involvement in ATRO Medical's financing rounds aimed at completing clinical studies for medical devices. Additionally, they participated in Nightbalance's funding rounds, which are focused on expanding commercial efforts in the medical device market. Their portfolio reflects a commitment to advancing medical technologies and therapies, making them a relevant player in the medical devices investment landscape.


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 made significant investments in the medical devices sector, including a seed financing round for CorVent Medical, which is developing the CorVent™ Single-Use Ventilator aimed at addressing respiratory insufficiency. Additionally, Exor has invested in Corwave, which raised €35 million in funding, indicating its active role in supporting innovative healthcare solutions. Their involvement with Philips, a leading company in medical technology, further emphasizes their commitment to the healthcare industry.



Medical Devices Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
European Investment Bank (EIB)Luxembourg1001-5000195899
Life Sciences Partners (LSP)Amsterdam, North Holland, Netherlands11-50198715
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
ForbionNaarden, North Holland, Netherlands11-50200623
M VenturesAmsterdam, North Holland, Netherlands11-50200918
GimvAntwerp, Flanders, Belgium51-20019808
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
NoshaqBelgium11-50198511
CvcLuxembourg1001-5000200516
NLC - The European Healthtech Venture BuilderAmsterdam, North Holland, Netherlands51-20020146
Thuja CapitalUtrecht, Utrecht, Netherlands1-1020063
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926


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