The online health products retailers industry in Benelux is thriving, catering to a growing demand for health and wellness solutions. Companies range from e-pharmacies to e-commerce platforms offering dietary supplements, fitness equipment, and wellness services. As consumers increasingly prioritize health, the trend towards online retailing is surging, driven by convenience and tailored offerings. This sector is expected to experience continued growth as innovations in digital health expand, offering more personalized and accessible products. Notably, legacies of traditional brick-and-mortar establishments are shifting in favor of tech-savvy online solutions to engage health-conscious consumers.


Investors in the Benelux online health products retailers industry vary widely, ranging from venture capital firms to large corporate entities. Headquartered in locations like Brussels, Amsterdam, and Luxembourg, these investors from different sizes often focus on expanding health-related startups. In 2024 alone, they executed numerous deals—ranging from five to fifty investments each—showcasing a strong commitment to innovation in the health sector. Established between 1980 and 2019, their collective experience well positions them to navigate the dynamic health products marketplace.


Top 14 Online Health Products Retailers 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 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 health products sector, including a recent investment in Sunday Natural, a leading brand for premium vitamins and supplements, aimed at scaling and expanding its international reach. Additionally, CVC's involvement with Universal Health International highlights its commitment to the health industry. These transactions reflect CVC's strategy to diversify its portfolio while actively participating in the growing online health products market.


2. 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 relevant to the online health products sector, such as PKVitality, which raised $6,826,645 in a Series A round and previously received a grant of $2,464,573. Additionally, AVeta Medical secured $2,888,337 in grant funding from the EIC, further highlighting its commitment to supporting health-related innovations. These transactions illustrate the EIC's active role in promoting advancements in the health industry.


3. dsm-firmenich

  • Website: dsm-firmenich.com
  • Type: Venture Capital
  • Headquarters: Maastricht, Limburg, Netherlands
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: dsmfirmenich

dsm-firmenich is a for-profit company based in Maastricht, Limburg, Netherlands, operating primarily in the nutrition, health, and beauty sectors. The company offers a diverse range of products, including fragrances, nutritional supplements, and active pharmaceutical ingredients. As a venture capital investor, dsm-firmenich has been actively involved in funding innovative health-related startups. Notable transactions include a $3 million investment in Rootine, a company focused on personalized nutrition, and a $7 million investment in OK Capsule, which specializes in health supplements. Additionally, they led a $6.5 million Series A round for Momentous, a human performance company, further demonstrating their commitment to supporting health-focused innovations. These investments reflect dsm-firmenich's strategy to enhance product offerings in the health sector and address sustainability challenges.


4. 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 participated in significant funding rounds for companies like Cuure, which raised approximately 7 million euros in a Series A round, and Genexa, a clean pharmaceutical company that secured $60 million in Series A funding. These investments highlight Verlinvest's commitment to the health sector, making them a relevant player in the online health products retailers space.


5. Sofina

  • Website: sofinagroup.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1898
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: sofina

Sofina is a venture capital investment company based in Brussels, Belgium, founded in 1898. The firm specializes in providing patient capital to growing businesses across various sectors, including telecommunications, consumer goods, and energy. Sofina partners with entrepreneurs and family-owned businesses, offering strategic advice and long-term investment solutions to foster sustainable growth. In the context of online health products, Sofina has made notable investments such as a $25 million funding round for HealthKart, which aims to expand its omnichannel nutrition platform and launch additional D2C nutrition brands. They have also invested in Mamaearth, contributing $50 million in a Series C round and $37.5 million in a subsequent venture round, both of which focus on health and wellness products. These transactions highlight Sofina's active role in the online health products sector.


6. Prosus Group

  • Website: prosus.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2019
  • Headcount: 10001+
  • Number of deals in 2024: 21
  • LinkedIn: prosus-group

Prosus Group is a global technology investor and operator based in Amsterdam, Netherlands, founded in 2019. The firm focuses on enhancing everyday life through technology across various sectors, including online classifieds, food delivery, payments, and education technology. Notably, Prosus has made significant investments in the online health products sector, particularly through its involvement with PharmEasy, a leading online pharmacy. In 2021, Prosus led a Series E funding round for PharmEasy, raising $350 million, and continued to support the company with additional investments totaling over $716 million in 2024. This commitment to PharmEasy highlights Prosus's strategic interest in the online health products market, showcasing its role in fostering innovation and growth in this sector.


7. 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 healthcare sector, including a substantial post-IPO equity investment in Philips, which raised over $2.8 billion in August 2023. Additionally, Exor Ventures participated in a pre-seed investment round for Holifya, a digital health startup, contributing €500,000 to support its growth. These transactions highlight Exor's active role in the online health products retailers industry, showcasing its commitment to innovative health solutions.


8. 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 corporate investor based in Antwerp, Belgium, specializing in the distribution of specialty chemicals and providing innovation services. Founded in 2001, the company serves over 63,000 customers across various sectors, including life sciences and industrial markets. Azelis has made several strategic acquisitions to enhance its capabilities in the health sector. Notably, they acquired Megafarma, a Mexican distributor focused on pharmaceuticals, food, and veterinary industries, which strengthens their presence in the life sciences sector. Additionally, their acquisition of S&D Group, a supplier of raw materials for pharmaceuticals, highlights their commitment to expanding their reach in the health market. These transactions reflect Azelis's strategy to enhance its portfolio in health-related products, making them a significant player in the online health products retail space.


9. Vendis Capital

  • Website: vendiscapital.com
  • Type: Private Equity
  • Headquarters: Machelen, Flanders, Belgium
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: vendis-capital

Vendis Capital is a private equity investment firm based in Machelen, Flanders, Belgium, founded in 2009. The firm specializes in consumer scale-ups, providing capital and strategic support to help businesses grow internationally and implement effective digitalization strategies. Vendis Capital has a diverse portfolio, including notable investments in the health and wellness sector. For instance, they invested in Sylphar, a Belgium-based OTC company, which focuses on health products, and HerbalGem, known for its health-related offerings. Additionally, they acquired a majority stake in Skins Cosmetics, a luxury beauty retailer with an online presence, further showcasing their commitment to consumer brands. Their approach emphasizes collaboration with entrepreneurs to enhance market presence and achieve sustainable growth, making them a significant player in the consumer investment landscape.


10. Mangrove Capital Partners


Mangrove Capital Partners is a venture capital firm based in Luxembourg, founded in 2000. The firm specializes in early-stage investments in innovative technology companies, with a strong focus on sectors such as digital health and education tech. They provide not only financial support but also strategic guidance to entrepreneurs, particularly in Europe and Israel. Notably, Mangrove has invested in Wellster Healthtech Group, contributing $20 million in a Series B funding round aimed at expanding women's healthcare services. Additionally, they participated in a significant funding round for K Health, raising approximately $88.4 million in 2024, further emphasizing their commitment to the health technology sector. These transactions highlight Mangrove's active role in fostering growth within the online health products industry.


11. Rockstart

  • Website: rockstart.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2011
  • Headcount: 11-50
  • Number of deals in 2024: 16
  • LinkedIn: rockstart

Rockstart is a venture capital firm and startup accelerator based in Amsterdam, Netherlands, founded in 2011. The firm empowers early-stage founders across various sectors, including AgriFood, Energy, and Emerging Technology, by providing investment, mentorship, and networking opportunities. Notably, Rockstart has invested in health-related startups such as Medvice Digital Health, which raised $23,223 in a Pre-Seed round in 2018, and Fimo Health, which secured an undisclosed amount in a Seed round in 2022. These investments highlight Rockstart's commitment to supporting purpose-driven entrepreneurs in the health sector, alongside their broader investment strategy.


12. Sgh

  • Website: sghcapital.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: sghcapital

SGH Capital is a venture capital firm founded in 2015, based in Luxembourg, specializing in early and mid-stage disruptive companies across various sectors, including fintech and blockchain. They provide capital and strategic support to innovative businesses primarily in the US and western Europe. Notably, SGH has participated in several transactions relevant to the online health products sector, including an investment in Blueberry Pediatrics, which raised $150,000 in 2019. Additionally, they have been involved with Eight Sleep, a company focused on sleep technology, and Scentbird, which, while primarily a fragrance subscription service, operates in the health and wellness space. These investments demonstrate SGH's engagement with companies that have a health-related focus, making them a potential player in the online health products retailers market.


13. 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 invests in innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Notably, they co-led a $60 million Series B funding round for Withings, a Paris-based connected health company, which highlights their commitment to the online health products sector. They also participated in financing rounds for other healthcare companies, such as NightBalance, which focuses on health innovation, further showcasing their active role in the healthcare investment landscape.


14. PeakBridge


PeakBridge VC is a venture capital firm based in Luxembourg, founded in 2018, that specializes in FoodTech investments. The firm supports early-stage founders and businesses in the food industry by providing investment, consulting services, and access to a vast network of industry experts. Their focus is on innovative solutions that address significant challenges in the global food system. Notably, PeakBridge has been involved in several relevant transactions, including a $2.5 million seed round for Una Health, which aims to expand into Europe and globally, indicating their interest in health-related products. Other transactions include investments in iwi Life and Prenexus Health, which further demonstrate their engagement in the health sector, albeit primarily through the lens of food and nutrition.



Online Health Products Retailers Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
CvcLuxembourg1001-5000200516
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
dsm-firmenichMaastricht, Limburg, Netherlands10001+3
VerlinvestBrussels, Brussels, Belgium11-5019955
SofinaBrussels, Brussels, Belgium51-20018984
Prosus GroupAmsterdam, North Holland, Netherlands10001+201921
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
AzelisAntwerp, Flanders, Belgium1001-500020015
Vendis CapitalMachelen, Flanders, Belgium11-5020093
Mangrove Capital PartnersLuxembourg11-5020005
RockstartAmsterdam, North Holland, Netherlands11-50201116
SghLuxembourg1-1020153
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
PeakBridgeLuxembourg11-5020188


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