The surgical device industry in Benelux is thriving, influenced by advanced technology and growing healthcare demands. It includes a mix of established firms and innovative startups developing instruments for a range of surgical applications, from minimally invasive procedures to robotics. Companies are focusing on improving patient outcomes, enhancing safety, and streamlining surgical processes. With regulatory support and an emphasis on research and development, the sector is poised for substantial growth, particularly in areas like personalized medicine and digital health solutions that integrate with surgical devices. This evolution signals exciting possibilities for innovation in patient care.


The investors in this list represent a blend of venture capital firms and public entities headquartered in key Benelux cities. They vary in size, from small teams to large organizations with hundreds of employees. Founded from 1983 to 2023, these investors have actively participated in 2024’s surgical device funding rounds, demonstrating a dynamic financial environment. With an impressive number of deals reflecting a burgeoning interest in medtech, they are pivotal in transforming the landscape of surgical technologies. Investors like Life Sciences Partners and Forbion illustrate today’s growing commitment to innovation in healthcare.


Top 13 Surgical Device 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 provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in several transactions within the surgical device industry, such as providing grants to Surgify, NEOS Surgery, and Ostoform, as well as participating in a Series B funding round for Microsure, a company focused on robot-assisted microsurgery. These investments highlight the EIC's active role in advancing surgical device technologies and supporting companies that are innovating in this field.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. The EIB's clientele includes both public and private organizations seeking funding for initiatives that promote growth and job creation. In recent years, the EIB has been involved in several significant transactions within the surgical device and medtech sectors. For instance, it provided debt financing to eCential Robotics, a company focused on neuro-musculo-skeletal surgery, amounting to €15 million in December 2021. Additionally, the EIB has financed companies like Robocath and Vivasure Medical, further demonstrating its commitment to supporting innovation in surgical devices. These investments highlight the EIB's role in fostering advancements in healthcare technology, particularly in surgical applications.


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 a venture capital firm based in Amsterdam, Netherlands, specializing in private equity investments within the healthcare sector. Founded in 1987, LSP connects investors with innovative healthcare companies, focusing on drug development and medical technology. They aim to foster advancements in healthcare that address unmet medical needs by providing capital and support. Notably, LSP has been involved in significant transactions in the surgical device context, such as leading funding rounds for Simplify Medical, which raised $23.25 million in a Series B financing to support clinical trials for the Simplify Disc, and for Xeltis, which is developing polymer-based heart valve replacements and raised substantial funds across multiple rounds. These investments highlight LSP's commitment to advancing surgical device technologies.


4. Gilde Healthcare


Gilde Healthcare is a prominent investment firm based in Utrecht, Netherlands, specializing in healthcare. 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 made strategic acquisitions in the surgical device space, including the acquisition of Koscher & Würtz, a German manufacturer of surgical instruments, aimed at enhancing their product portfolio. They also acquired a majority stake in Chr. Diener, further solidifying their presence in the surgical instruments market. Their involvement in funding rounds for companies like Inari Medical and Shoulder Innovations highlights their commitment to advancing medical technologies, including surgical devices, making them a key player in this 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, based 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 participated in significant transactions such as the $40 million raised by Impella Cardiosystems, which develops heart pump devices, highlighting their involvement in the surgical device industry. Additionally, they have been part of funding rounds for companies like Autonomic Technologies and AM Pharma, which, while primarily focused on other medical technologies, demonstrate Forbion's broader engagement in the healthcare sector.


6. Brabantse Ontwikkelings Maatschappij (BOM)


De Brabantse Ontwikkelings Maatschappij (BOM) is a development agency based in Tilburg, North Brabant, Netherlands, founded in 1983. BOM supports startups and scale-ups in the Brabant region by offering funding, expertise, and networking opportunities to enhance business growth. They have been involved in several significant transactions in the surgical device industry, including investments in Microsure, a company specializing in robot-assisted microsurgery, which raised €38M in Series B2 funding to finalize the development of its microsurgical robot MUSA-3. BOM also participated in funding rounds for Mellon Medical, which raised €6 million for the market introduction of their Switch® technology. Additionally, they invested in ATRO Medical and Preceyes, further demonstrating their commitment to the surgical device sector.


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 involved in significant transactions within the surgical device industry, such as their investment in JenaValve Technology, which raised substantial funding to support the development of its transcatheter aortic valve implantation (TAVI) system. Additionally, Gimv's investment in Spineart, a medical device company, highlights their active role in the surgical device market. Their clientele primarily consists of entrepreneurial companies seeking capital and expertise to navigate market challenges, making them a valuable partner in the surgical device sector.


8. 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 developing medical technology solutions, particularly for neonatal care. NLC has made several investments in startups that focus on innovative healthcare solutions. Notably, they invested in Venous Stent BV, which is involved in the development of vascular stents, a critical component in surgical procedures. Other investments include Ansana, which is working on medical prototypes and regulatory strategies, and Haermonics, which focuses on healthcare innovations. Their business model emphasizes collaboration with healthcare providers and investors to drive innovation in the sector, making them a significant player in the healthtech landscape.


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 several significant transactions in the MedTech space, including an €18 million financing round for Intressa Vascular, a clinical-stage MedTech company, which aims to support its clinical development and product registration activities. Additionally, Noshaq has invested in Graftys, which raised over $6 million in two separate funding rounds, and Miracor Medical, which secured over $28 million in a Series E round. These investments highlight Noshaq's commitment to fostering growth and innovation in the surgical device industry.


10. 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 collaborates closely with entrepreneurs to drive innovation and growth in their portfolio companies. Notably, they have been involved in significant funding rounds for companies like Biolinq, which raised substantial amounts in Series A, B, and C funding to support its technology platform and clinical studies. Additionally, their investment in CellFE, a startup focused on making cell therapies more accessible, showcases their commitment to advancing healthcare technologies. These transactions highlight M Ventures' active role in supporting innovative healthcare solutions, which may include surgical devices.


11. 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. 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 surgical device industry, highlighted by their acquisition of Rayner Surgical Group, which marks a strategic move for global expansion in the surgical sector. Additionally, their investment in Spectrum Medical, a medical device company valued at up to £1bn, showcases their commitment to advancing surgical technologies. Furthermore, the acquisition of Therakos for an enterprise value of $925 million indicates CVC's ongoing interest in the medical device landscape. These transactions reflect CVC's strategy of delivering sustainable value and growth through targeted investments in the healthcare sector, particularly in surgical devices.


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. Notably, they have participated in several relevant transactions in the surgical device context, including a Series B investment in Mellon Medical, which raised €6 million for the market introduction of their Switch® technology. Additionally, they were involved in funding ATRO Medical, which is focused on completing clinical studies for their surgical devices. Most recently, they participated in a €14 million Series A financing round for Gradient Denervation Technologies, which is developing an ultrasound-based catheter device. These transactions highlight Thuja Capital's active role in the surgical device 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. In the healthcare sector, Exor has made significant investments in surgical device-related companies. For instance, they participated in a Series B financing round for Allotex, which is developing technology aimed at treating refractive errors and has plans for FDA clinical trials in 2024. Additionally, Exor was involved in the seed financing for CorVent Medical, which is working on the CorVent™ Single-Use Ventilator, aimed at addressing respiratory insufficiency. These transactions highlight Exor's active role in the surgical device market, making them a relevant investor in this field.



Surgical Device 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
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
GimvAntwerp, Flanders, Belgium51-20019808
NLC - The European Healthtech Venture BuilderAmsterdam, North Holland, Netherlands51-20020146
NoshaqBelgium11-50198511
M VenturesAmsterdam, North Holland, Netherlands11-50200918
CvcLuxembourg1001-5000200516
Thuja CapitalUtrecht, Utrecht, Netherlands1-1020063
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926


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