The veterinary vaccine manufacturers industry in Benelux focuses on developing immunizations for pets and livestock, safeguarding animal health and public safety. Companies in this sector include biotech firms, pharmaceutical companies, and research organizations that innovate solutions addressing infectious diseases in animals. Currently, the industry is growing alongside advancements in biotechnology, personalized veterinary medicine, and increasing investment in animal health. Notables include mRNA technology adaptation for veterinary applications which not only boosts vaccine efficacy but can lead to faster response rates during outbreaks. As agriculture and pet ownership rise, this sector's importance in ensuring healthy populations will only expand.


The investment scene in veterinary vaccines in Benelux features a mix of corporate and private equity players from various locales, namely Luxembourg, Belgium, and the Netherlands. These investors vary in size—with some managing substantial assets and others operating on a smaller scale—while their founding years stretch from as early as 1425 to 2005. In 2024, they collectively made 99 significant investments in the veterinary space, reflecting their commitment to this vital sector and indicating promising growth opportunities in animal health and vaccine development.


Top 13 Veterinary Vaccine Manufacturers Investors in Benelux


1. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides financial services such as 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. Among its notable transactions, the EIB has invested in companies involved in vaccine development, such as providing €75 million to CureVac for its infectious disease vaccine programs, which includes a Covid-19 vaccine candidate. Additionally, the EIB supported Devenish Nutrition with a €40 million loan aimed at research and development in animal nutrition and health, which is relevant to veterinary applications. These transactions highlight the EIB's commitment to funding health-related projects, including those that may benefit the veterinary vaccine sector.


2. 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 investment firm founded in 2005, specializing in private equity, credit, secondaries, and infrastructure. With approximately €193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC focuses on delivering sustainable value and growth through strategic investments. Notably, CVC has made significant investments in the veterinary sector, including the acquisition of a majority stake in Medivet for over £1 billion, which operates more than 350 veterinary branches in the UK. This acquisition highlights CVC's commitment to expanding its footprint in the veterinary industry. Additionally, CVC has a history of investing in related sectors, such as their acquisition of Petco, a major pet retailer, and Provimi, a company involved in animal nutrition, further showcasing their interest in the broader animal health and welfare market.


3. 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 invests in transformative ideas within the biotechnology and technology sectors, focusing on startups in healthcare, life sciences, and advanced technology. M Ventures provides funding and strategic guidance to help portfolio companies achieve commercial success. Notable transactions include a $72 million Series C funding round for Nouscom, which is advancing a cancer vaccine clinical pipeline, and investments in F-Star Therapeutics, a company utilizing modular antibody technology. While their primary focus is not on veterinary vaccines, their engagement in vaccine development indicates a potential interest in this area.


4. 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 ventures from start-up to scale-up stages. Thuja Capital provides funding and strategic guidance primarily to companies in the biotech and medtech sectors. Notably, they participated in the seed funding round for AstriVax, a Belgium-based company that is developing a thermostable yellow fever vaccine and other vaccine candidates. This involvement highlights their engagement in the vaccine development space, which is relevant to the veterinary vaccine sector. Additionally, they have been involved in various other healthcare-related investments, indicating a broad interest in advancing medical technologies and therapies.


5. 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 based in Brussels, Belgium, 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, including life sciences. Notably, PMV has participated in significant funding rounds for companies in the veterinary sector, such as ViroVet, which raised over 6 million euros to develop its veterinary product portfolio, and Animab, which secured 3.4 million euros for developing monoclonal antibodies aimed at improving livestock health. These investments highlight PMV's commitment to supporting innovations in veterinary medicine and its role as a key player in the veterinary vaccine manufacturing landscape.


6. V-Bio Ventures

  • Website: v-bio.ventures
  • Type: Venture Capital
  • Headquarters: Ghent, Flanders, Belgium
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: v-bio-ventures

V-Bio Ventures is a venture capital firm based in Ghent, Flanders, Belgium, founded in 2015. The firm specializes in life sciences investments, focusing on innovative companies in therapeutics, diagnostics, and sustainable agriculture. V-Bio Ventures aims to transform scientific innovations into impactful products that address unmet needs in healthcare and agriculture. Notably, they have invested in Animab, a company developing monoclonal antibodies for livestock, which highlights their engagement in veterinary health. Additionally, they led a €30 million seed funding round for AstriVax, a company working on a thermostable yellow fever vaccine and a plug-and-play vaccine platform, indicating their interest in vaccine development. These transactions reflect V-Bio Ventures' commitment to supporting advancements in both human and veterinary health.


7. 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, founded in 2013. The firm specializes in agrifood technology investments, focusing on startups that leverage biotechnology and digital solutions to enhance food production and sustainability. Anterra Capital has been active in the animal health sector, notably investing in Ashish Life Science, an Indian animal health startup, which raised $6.3 million in a Series A funding round. Additionally, they have been involved with Animol Discovery, participating in multiple funding rounds including a Series C round in November 2024 and a Series B round in July 2022, where the company raised $34 million to advance its pipeline of novel active pharmaceutical ingredients. These transactions highlight Anterra Capital's commitment to supporting innovative companies in the veterinary and animal health sectors, making them a significant player in the veterinary vaccine manufacturers landscape.


8. FundPlus

  • Website: fundplus.be
  • Type: Venture Capital
  • Headquarters: Leuven, Flanders, Belgium
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: fund-

FundPlus is a venture capital investment fund based in Leuven, Flanders, Belgium, founded in 2015. The firm focuses on the life sciences sector, investing in innovative companies that develop therapeutics, diagnostics, and medical devices, primarily at the Series A or B financing stages. FundPlus aims to create sustainable shareholder value while contributing to societal impact through its investments. In 2022, FundPlus participated in a significant seed funding round for AstriVax, a company developing a thermostable yellow fever vaccine, which highlights their interest in vaccine development. Additionally, they have been involved in other life sciences investments, such as etherna immunotherapies, which focuses on mRNA technologies, and Cardior Pharmaceuticals, which develops RNA-based therapeutics. These transactions reflect FundPlus's active role in supporting innovative health solutions, including those that may have applications in veterinary medicine.


9. 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. Their investment strategy spans various sectors, including healthcare, technology, and business services. Notably, Astorg has been involved in several significant transactions, such as the acquisition of Hamilton Thorne, a company that may have applications in veterinary medicine, and the acquisition of Animalis, which raised funds in the private equity round, indicating a focus on animal health. Additionally, their acquisition of Cerba Research and CordenPharma highlights their commitment to the healthcare sector, which could encompass veterinary applications.


10. Capricorn Partners


Capricorn Partners is an investment management firm based in Leuven, Flanders, Belgium, specializing in venture capital, growth capital, and quoted equity funds. Founded in 1993, the firm focuses on innovative companies across various sectors, including digital technologies, health, and clean technologies. Notably, Capricorn Partners has participated in significant transactions within the veterinary sector, such as their investments in ViroVet, a Belgian biopharmaceutical company that raised over 6 million euros in Series B financing to develop its veterinary product portfolio. They also participated in ViroVet's earlier Series A round. This involvement highlights their interest in the veterinary vaccine manufacturing space, demonstrating their commitment to responsible investing and creating strategic value for their clients.


11. 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 markets, by providing high-quality raw materials and innovative formulations. Notably, Azelis has expanded its footprint in the veterinary sector through its acquisition of Megafarma, a Mexican specialty distributor that caters to the pharma, food, and veterinary industries. This acquisition, announced on January 24, 2020, enhances Azelis' presence in the life sciences sector and facilitates growth in the Mexican market, indicating their commitment to the veterinary industry. Additionally, their ongoing acquisitions in other sectors demonstrate their strategy to diversify and strengthen their market position, which may also include veterinary applications.


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 agriculture. Notably, Agri Investment Fund has participated in significant transactions relevant to veterinary health, including a Series B investment in ViroVet, a biopharmaceutical company developing veterinary products, and a seed investment in Animab, which focuses on monoclonal antibodies for improving livestock health. These investments highlight their commitment to supporting advancements in veterinary medicine and animal health.


13. Vib

  • Website: vib.be
  • Type: Corporate
  • Headquarters: Ghent, Flanders, Belgium
  • Founded year: 1995
  • Headcount: 1001-5000
  • Number of deals in 2024: 3
  • LinkedIn: vib

VIB (Vlaams Instituut voor Biotechnologie) is a public entity based in Ghent, Flanders, Belgium, founded in 1995. It focuses on strategic research in life sciences and biotechnology, offering research and development services, technology transfer, and support for biotech startups. VIB collaborates with academic institutions and industry partners to translate scientific discoveries into practical applications. Notably, VIB has been involved in several transactions relevant to veterinary health, including a seed investment in Animab, a startup developing monoclonal antibodies for livestock, particularly piglets. This investment highlights VIB's commitment to improving animal health through innovative biotechnological solutions. Additionally, VIB participated in funding rounds for companies like MRM Health and Biotalys, which, while not exclusively focused on veterinary vaccines, contribute to the broader life sciences and agricultural biotechnology sectors.



Veterinary Vaccine Manufacturers Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
CvcLuxembourg1001-5000200516
M VenturesAmsterdam, North Holland, Netherlands11-50200918
Thuja CapitalUtrecht, Utrecht, Netherlands1-1020063
PmvBrussels, Brussels, Belgium51-200200111
V-Bio VenturesGhent, Flanders, Belgium1-1020156
Anterra CapitalAmsterdam, North Holland, Netherlands11-5020139
FundPlusLeuven, Flanders, Belgium1-1020152
AstorgLuxembourg51-20019988
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
AzelisAntwerp, Flanders, Belgium1001-500020015
Agri Investment FundLeuven, Flanders, Belgium1-1018903
VibGhent, Flanders, Belgium1001-500019953


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