The healthcare industry in Benelux is a vital and growing sector that includes pharmaceutical firms, biotech companies, medical device manufacturers, and healthcare service providers. This region is known for its innovation, collaborating with research institutions and universities to enhance medical technology and treatment. Current trends show a significant investment in digital health solutions, with companies focusing on telemedicine and health data analytics to improve patient care. As policymakers push for efficient healthcare systems, startups are pivoting towards solutions that prioritize both quality and accessibility, ensuring the region remains a key player in global healthcare advancements.


The investor landscape in Benelux's healthcare sector showcases varied backgrounds, including venture capitalists and private equity firms, with headquarters spanning Belgium and the Netherlands. Operating sizes range from small teams to major corporates, as evidenced by investors like the European Innovation Council. With 2024 seeing notable deal activity, these investors collectively supported over 250 transactions, fueling growth and innovation within the healthcare industry while also nurturing emerging startups and established enterprises alike.


Top 14 Healthcare 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 healthcare-related transactions, such as providing grants to Ilya Pharma, which raised a total of €5.3 million to accelerate a Phase II trial for its lead drug candidate targeting wound treatment in diabetic patients. Additionally, the EIC has supported other healthcare ventures like moveUP and Nuclidium through grants, demonstrating its commitment to advancing healthcare innovation.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded 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. Notably, the EIB has been involved in significant transactions within the healthcare industry, such as providing debt financing to Sidekick Health, which raised approximately $39.8 million in April 2025, and CompuGroup Medical, which secured around $202.6 million in July 2022. Additionally, the EIB supported Emzor Pharmaceutical Industries with $14.1 million in July 2022, Nightingale Health with $22.7 million in January 2019, and BioNTech with $100 million in post-IPO debt in June 2020. These investments highlight the EIB's active role in financing healthcare initiatives, contributing to growth and innovation in the sector.


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, founded in 1987. The firm specializes in private equity investments within the healthcare sector, focusing on drug development and medical technology. LSP connects investors with innovative healthcare companies, providing capital and support to foster advancements that address unmet medical needs. Notable transactions include their involvement with Amolyt Pharma, where they participated in multiple funding rounds, including a $74 million Series A in 2019, an $80 million Series B in 2021, and a $138 million Series C in 2023. Additionally, LSP was involved in the early-stage funding of KuDOS Pharmaceuticals Ltd and 4-Antibody AG, further emphasizing their commitment to investing in healthcare innovations.


4. 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. Forbion collaborates with entrepreneurs and academic institutions to develop innovative therapies and technologies aimed at improving patient outcomes. Notable transactions include a Series A investment in Roche Glycart, which raised $13.6 million, and a Series C investment in Gyroscope Therapeutics, which raised $148.6 million. More recently, Forbion participated in a $245 million Series A funding round for Aiolos Bio, a clinical-stage biopharmaceutical company focused on asthma treatment, and a $190 million Series B investment in Marea Therapeutics. These transactions underscore Forbion's commitment to advancing healthcare through strategic investments in promising biotech firms.


5. Gilde Healthcare


Gilde Healthcare is a prominent investment firm based in Utrecht, Netherlands, founded in 1982. The firm specializes in healthcare investments, managing 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. Notable transactions include leading a €10 million funding round for the German image analysis company Definiens in 2012, and participating in multiple funding rounds for Ablynx, including a $50 million Series C round in 2006 and earlier rounds in 2002 and 2004. These investments highlight Gilde Healthcare's commitment to supporting innovative healthcare solutions and businesses.


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 collaborates closely with entrepreneurs to drive innovation and growth in their portfolio companies. Notable transactions include their participation in Calypso Biotech's Series A funding rounds, where they contributed to financing aimed at developing anti-Interleukin-15 antibodies for autoimmune conditions. Additionally, M Ventures joined the Series B funding round for Medisafe, a company focused on medication management solutions, helping to support its global expansion and growth. These investments highlight M Ventures' active role in the healthcare industry, making them a significant player in the venture capital landscape for healthcare innovation.


7. 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 founded in 2005, based in Luxembourg, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. The firm specializes in private equity, credit, secondaries, and infrastructure, focusing on delivering sustainable value and growth through strategic investments. Notably, CVC has made several significant investments in the healthcare sector, including the acquisition of Quironsalud in 2011, a leading healthcare provider in Spain, and Mehilainen in 2018, a major Finnish healthcare service provider. Additionally, CVC acquired a 15% stake in PT Siloam International Hospitals, a prominent Indonesian hospital chain, in 2016, and invested $1.15 billion in MedRisk, LLC, a healthcare company specializing in managed care services, in 2021. They also acquired Hellenic Healthcare Group in 2017, further solidifying their presence in the healthcare market.


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 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 several significant transactions in the healthcare sector, including multiple funding rounds for Ablynx, a biopharmaceutical company specializing in Nanobody technology. Ablynx raised substantial amounts through Series A, B, and C funding rounds, indicating Gimv's active role in supporting healthcare innovation. Additionally, Gimv participated in a private equity round for Almaviva Santé, further showcasing their engagement in the healthcare 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. The firm specializes in providing financial solutions and strategic support to small and medium-sized enterprises (SMEs) in the province of Liege. Noshaq 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 healthcare sector, including Miracor Medical, which raised over $28 million in a Series E round in 2020 and previously secured funding in Series D rounds. Additionally, they participated in the Series A funding of ExeVir Bio, which raised approximately $49 million in 2020. These investments highlight Noshaq's active role in fostering growth and innovation within the healthcare industry.


10. BGV (BioGeneration Ventures)


BioGeneration Ventures (BGV) is a venture capital firm based in Naarden, North Holland, Netherlands, founded in 2006. The firm specializes in seed investments in innovative early-stage biotech companies, providing both funding and support to help these companies develop disruptive solutions for unmet medical needs. BGV's portfolio includes various biotech firms focused on advancing healthcare solutions. Notable transactions include Citryll, which raised significant funding in Series B rounds in 2020 and 2024, and argenx, which received funding in Series A rounds in 2009 and 2010. Additionally, AcertaPharma raised $60 million in Series A funding in 2013, further demonstrating BGV's commitment to investing in companies that are making strides in the healthcare sector.


11. 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 multiple 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 notable investments, including a 45% stake acquisition in Lifenet Healthcare for €67 million, which highlights its commitment to the industry. Additionally, Exor participated in funding rounds for healthcare startups like Alan, which raised significant capital in Series D and E rounds, and Resilience, which secured funding in Series A. These transactions underscore Exor's active role in the healthcare investment 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, providing funding and strategic guidance to innovative healthcare ventures from start-up to scale-up. Thuja Capital primarily targets companies in the biotech and medtech sectors, aiming to support the development of novel therapies and medical technologies. Notable transactions include their investment in argenx, which raised $4.5 million in a Series A round, and their participation in funding rounds for ATRO Medical, which received €1.9 million to complete a clinical study. Additionally, they have been involved in funding rounds for Enanta Pharmaceuticals and DCPrime, further solidifying their commitment to the healthcare industry.


13. 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 funding, expertise, and networking opportunities to enhance business growth. In 2024, BOM was involved in 10 investments, showcasing their active role in the investment landscape. Among their notable transactions, BOM participated in funding rounds for Citryll, a Dutch medtech startup that focuses on developing therapeutic antibodies for autoimmune and other diseases, raising significant amounts in both Series A and Series B rounds. Additionally, BOM invested in AcertaPharma, which raised $60 million in a Series A round, further emphasizing their engagement in the healthcare sector. BOM's diverse investment portfolio, including healthcare, sustainable food, and energy sectors, highlights their commitment to fostering innovation across various industries.


14. Vesalius Biocapital Arkiv


Vesalius Biocapital Partners Sàrl is a venture capital firm based in Woluwe-Saint-Pierre, Brussels, Belgium, founded in 2007. The firm specializes in providing funding and strategic support to innovative life science companies across Europe, focusing on therapeutics, medical devices, and diagnostics. Vesalius Biocapital has been involved in several notable transactions in the healthcare sector, including: 1) Sword Health, a virtual musculoskeletal care provider, where they participated in Series A and Series B funding rounds, contributing to a total of $34 million raised. 2) DEARhealth, a health tech startup that raised £5.4 million in a Series A funding round, aimed at scaling its health technology offerings to hospitals in Europe. These transactions highlight Vesalius Biocapital's active role in supporting healthcare innovation and startups, demonstrating their commitment to the sector.



Healthcare 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
ForbionNaarden, North Holland, Netherlands11-50200623
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
M VenturesAmsterdam, North Holland, Netherlands11-50200918
CvcLuxembourg1001-5000200516
GimvAntwerp, Flanders, Belgium51-20019808
NoshaqBelgium11-50198511
BGV (BioGeneration Ventures)Naarden, North Holland, Netherlands1-1020066
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
Thuja CapitalUtrecht, Utrecht, Netherlands1-1020063
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
Vesalius Biocapital ArkivWoluwe-Saint-Pierre, Brussels, Belgium1-1020078


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