The veterinary service industry in Benelux encompasses a range of essential services aimed at maintaining the health and well-being of animals. Companies, including veterinary clinics, pharmaceutical manufacturers, and biotechnology firms, focus on both preventive care and innovative treatments. With advancements in technology, there’s a growing emphasis on telemedicine and personalized pet care solutions. Additionally, pet ownership trends continue to rise, influencing increased demand for veterinary services. An exciting aspect is the surge in investment in pet health and wellness, driven by a desire to offer comprehensive care that meets modern consumer expectations. 2024 forecasts strong growth.

The list features a mix of corporate, private equity, and venture capital investors based in Benelux. Key locations include Amsterdam and Brussels, reflecting a dynamic financial environment. These investors range significantly in size, with some like Nutreco boasting over 10,000 employees, while others operate on a smaller scale. Founded between the late 19th to early 21st centuries, the firms highlight a diverse timeline of market experience. In 2024 alone, these investors collectively engaged in numerous notable deals, focusing not just on financial returns but also on innovation in animal health and care.

Top 13 Veterinary Service 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 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 significant strides in the veterinary service sector, notably acquiring a majority stake in Medivet for over £1 billion in October 2021, which operates more than 350 branches in the UK. This acquisition is part of CVC's strategy to support Medivet's growth in the UK and Europe. Additionally, CVC's acquisition of Petco in March 2016 for $4.6 billion highlights their investment in the pet care industry, which is closely linked to veterinary services. These transactions reflect CVC's commitment to delivering sustainable value and growth through strategic investments in the veterinary and pet care sectors.

2. Anterra Capital

• Website: anterracapital.com
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 2013
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn: anterra-capital

Anterra Capital is a venture capital firm based in Amsterdam, Netherlands, specializing in agrifood technology investments. Founded in 2013, the firm focuses on supporting startups that leverage biotechnology and digital solutions to enhance food production and sustainability. Anterra Capital operates primarily in North America and Europe, targeting innovative companies in the agrifood sector. Notably, they have participated in significant funding rounds for companies relevant to the veterinary service industry, including Invetx, which raised $60.5 million to advance its monoclonal antibody pipeline for treating diseases in dogs and cats. Additionally, Anterra was involved in funding Dalma, a French pet insurance startup, which raised €15 million in Series A funding. These transactions highlight Anterra Capital's engagement with the veterinary services market, making them a noteworthy investor in this space.

3. Jab Holding Company LLC

• Website: jabholco.com
• Type: Private Equity
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 2007
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: jab-holding-company-llc

JAB Holding Company LLC is a private equity investment firm based in Amsterdam, Netherlands, founded in 2007. The firm specializes in consumer goods and services, operating across various sectors including coffee, fast casual dining, petcare, and beauty. JAB focuses on long-term investments and sustainable value creation, catering to consumers seeking quality products and services. In recent years, JAB has made significant strides in the petcare sector, particularly through its acquisitions in the pet insurance market. Notable transactions include the acquisition of Pumpkin Insurance Services in May 2023, Embrace Pet Insurance in November 2023, and a majority stake in Figo Pet Insurance in October 2021. These investments highlight JAB's commitment to expanding its footprint in the petcare industry, which is intrinsically linked to veterinary services, as pet insurance plays a vital role in facilitating access to veterinary care for pet owners.

4. 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 a workforce of over 10,000 employees and focuses on providing innovative feed solutions for livestock and aquaculture. Nutreco's investment strategy includes acquiring companies that enhance productivity and support animal health, aligning with sustainable practices to meet global food demands. Notable transactions include the acquisition of Hi-Pro Feeds, a leading manufacturer of animal feed, and a minority stake in BiomEdit, which is part of a $40 million Series A funding round aimed at advancing animal health solutions. Additionally, Nutreco co-led a $24.6 million investment in Proteon Pharmaceuticals, a startup focused on reducing antibiotic reliance in animal agriculture, showcasing their commitment to veterinary health. Their acquisition of Animal Nutrition and Health further emphasizes their strategy to expand in the animal health sector.

5. European Investment Bank (EIB)

• Website: eib.org
• Type: Corporate
• Headquarters: Luxembourg
• Founded year: 1958
• Headcount: 1001-5000
• Number of deals in 2024: 99
• LinkedIn: european-investment-bank

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 through its funding initiatives. Among its notable transactions, the EIB has invested in Devenish Nutrition, providing €40 million to support research and development in optimized animal nutrition, which is crucial for veterinary services. Additionally, the EIB's funding of In Ovo, a company focused on eliminating the culling of male chicks, highlights its commitment to animal welfare and innovative practices in the agricultural sector. These investments reflect the EIB's broader strategy of supporting sustainable and impactful projects, including those that intersect with veterinary services.

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 various 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 veterinary service context, including a $37 million Series A funding for Heads Up For Tails, a company focused on pet wellness and care, and a $22 million Series A funding for KatKin, a fresh food and pet healthtech platform. Additionally, they were involved in a $75 million Series D investment in Chewy, a major player in the pet product retail space. These transactions highlight Verlinvest's commitment to supporting businesses that prioritize consumer needs and sustainable practices in the veterinary and pet care sectors.

7. 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 founded in 1998, based in Luxembourg, 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 been involved in several transactions relevant to the veterinary service context, including their early investment in Animalis, which raised funds in 1999. This investment indicates a historical commitment to the veterinary sector. More recently, they have made significant acquisitions in healthcare-related companies, such as Hamilton Thorne and Cook Medical's Reproductive Health Portfolio, showcasing their ongoing interest in the healthcare industry, which may encompass veterinary services as well.

8. 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 multiple sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Their clientele primarily consists of entrepreneurial companies seeking capital and expertise to navigate market challenges. Notably, Gimv has made significant investments in the healthcare sector, including a €12.5M investment in Equipe Zorgbedrijven, a group of specialized clinics in the Netherlands, which indicates their engagement in the healthcare space that could encompass veterinary services. Other transactions include investments in Almaviva Santé and Eurocept, which further demonstrate their active role in the healthcare industry.

9. 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, in 2024, Exor participated in a seed round investment of $4 million in Lupa Pets, a company in the pet care sector, highlighting its engagement in the veterinary service industry. Additionally, Exor has made significant investments in healthcare, such as acquiring a 45% stake in Lifenet Healthcare for €67 million, which showcases its broader investment strategy in health-related sectors.

10. AAC Capital Partners

• Website: aaccapitalpartners.com
• Type: Private Equity
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 1982
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn: aac-capital-partners

AAC Capital Partners is a private equity investment firm based in Amsterdam, North Holland, Netherlands, founded in 1982. The firm specializes in providing growth capital and strategic guidance to mid-sized businesses in the Benelux region, focusing on fostering entrepreneurship and sustainable growth through partnerships with management teams. Notably, AAC Capital has made significant strides in the pet care sector, exemplified by their acquisition of Yarrah Organic Pet Food in January 2017. This acquisition highlights their commitment to the pet industry, which is closely linked to veterinary services. Additionally, AAC Capital has been involved in various other sectors, such as healthcare and physiotherapy, but their engagement with a pet food company positions them as a relevant player in the veterinary service landscape.

11. Pmv

• Website: pmv.eu
• Type: Venture Capital
• Headquarters: Brussels, Brussels, Belgium
• Founded year: 2001
• Headcount: 51-200
• Number of deals in 2024: 11
• LinkedIn: pmv-eu

Participatiemaatschappij Vlaanderen (PMV) is a public entity that acts as an investment company for the Flemish government, founded in 2001. PMV provides a range of financing solutions, including loans and co-financing, to startups, scale-ups, and established businesses across various sectors such as real estate, clean tech, and life sciences. In the veterinary service context, PMV has participated in significant transactions such as ViroVet, a Belgian biopharmaceutical company that raised over 6 million euros to develop its veterinary product portfolio, and Animab, a startup focused on monoclonal antibodies for livestock health, which secured a 3.4 million euro seed investment. These transactions highlight PMV's involvement in advancing veterinary services and its support for innovations that improve animal health and performance.

12. Agri Investment Fund

• Website: aifund.be
• Type: Private Equity
• Headquarters: Leuven, Flanders, Belgium
• Founded year: 1890
• Headcount: 1-10
• Number of deals in 2024: 3
• LinkedIn:

Agri Investment Fund is a private equity investment fund based in Leuven, Flanders, Belgium, founded in 1890. The fund specializes in the agricultural sector, particularly in Ag-Tech and Agro-Food companies, providing financial support and advisory services to both startups and established businesses. Their mission is to enhance sustainability and innovation within the agricultural industry. Notably, Agri Investment Fund has participated in significant transactions within the veterinary service context, including an investment in ViroVet, a Belgian biopharmaceutical company that raised over 6 million euros to develop its veterinary product portfolio. Additionally, they invested in Animab, a startup focused on developing monoclonal antibodies to improve livestock health, particularly for piglets. These investments highlight Agri Investment Fund's commitment to advancing veterinary services alongside their broader agricultural focus.

13. Market One Capital

• Website: moc.vc
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn: m1c

Market One Capital is a venture capital firm based in Luxembourg, founded in 2017. The firm specializes in investing in innovative startups across various sectors, including FinTech, HealthTech, and AgriTech. They provide financial backing and strategic support to help these businesses grow and succeed in their respective markets. Notably, Market One Capital participated in a seed funding round for PetsApp, a UK-based client engagement platform aimed at enhancing communication and services in the veterinary sector. This investment highlights their interest in the veterinary service industry, alongside their broader investment strategy.

Veterinary Service Insights: Key Investors in Benelux

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