The socially responsible investing industry in Benelux focuses on generating positive social and environmental impacts alongside financial returns. Investors here actively engage in areas such as renewable energy, sustainable agriculture, and ethical finance. With a surge in consumer demand for transparency, firms are increasingly adopting stricter ESG criteria. The industry is rapidly evolving, with innovations emerging from startups and established corporations alike, as they strive for sustainability. Notably, public entities and private equity firms are emphasizing long-term viability and community impact, reflecting a growing commitment to sustainable practices across the board.


In 2024, the Benelux region saw 15 influential socially responsible investing investors across various sectors. These firms, ranging from venture capital to corporate entities, are headquartered in cities like Amsterdam, Brussels, and Luxembourg. They vary in size from small teams to large institutions, with founding years from 1958 onward. Collectively, they made 306 investments in that year, the majority aimed at promoting sustainability and social responsibility. The involvement of both established banks like ABN AMRO and innovative funds like Astanor illustrates a dynamic, forward-thinking investment arena.


Top 15 Socially Responsible Investing Investors in Benelux


1. European Investment Bank (EIB)


The European Investment Bank (EIB), founded in 1958 and based in Luxembourg, is a public entity that provides a range of financial services including loans, equity investments, guarantees, and advisory services. The EIB is dedicated to supporting sustainable projects across various sectors, with a mission to promote growth and job creation. In recent transactions, the EIB has committed significant funding to initiatives that align with socially responsible investing principles. For instance, it provided $10 million in junior debt for Spark Energy Services, which is focused on energy solutions, and participated in the debt financing of Energiefonds Overijssel, which raised over $50 million for sustainable energy projects. These transactions highlight the EIB's role in financing projects that contribute to environmental sustainability and social development.


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. In 2024, the EIC has been involved in 57 investments, primarily through grants, which are crucial for fostering innovation in socially responsible sectors. Notable transactions include grants to Swisspod, which raised over $3.7 million for innovative solutions, and CO2 Bioclean, which received funding for its efforts in carbon capture technology. Other investments, such as those in Materrup and Woodoo, also indicate a focus on sustainable practices and materials. The EIC not only provides financial support but also offers business acceleration services and networking opportunities to enhance the impact of these innovations.


3. BIO - the Belgian Investment Company for Developing Countries


BIO - the Belgian Investment Company for Developing Countries is a not-for-profit organization based in Brussels, Belgium, founded in 2001. It focuses on providing investment support and development financing to private sector companies in developing countries, aiming to empower these businesses to thrive and contribute to their local economies. In recent years, BIO has been involved in several significant transactions that reflect its commitment to sustainable development. For instance, in 2020, BIO provided debt financing of approximately $6 million to BIM, and earlier that year, it participated in a venture round raising nearly $4 million for the same company. Additionally, BIO supported Berkeley Energy with debt financing of over $1 million in 2015 and a venture round of approximately $4.3 million in 2011. These investments highlight BIO's focus on fostering growth in sectors that can lead to positive social and economic outcomes in developing regions.


4. InnoEnergy

  • Website: innoenergy.com
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 52
  • LinkedIn: innoenergy

EIT InnoEnergy is a not-for-profit organization founded in 2010, based in Eindhoven, North Brabant, Netherlands. It is dedicated to accelerating sustainable energy innovations and offers a marketplace for energy solutions, training programs, and support for innovators and corporates in the energy sector. InnoEnergy collaborates with various stakeholders to tackle the challenges of energy transition and sustainability. In 2024, InnoEnergy was involved in multiple transactions, including significant investments in Ecoligo, which focuses on providing solar energy solutions in developing countries, and RVE.SOL, a Portuguese minigrid firm that aims to bring renewable power and clean water to communities in Kenya. These investments highlight InnoEnergy's commitment to fostering sustainable development and addressing social issues through innovative energy solutions.


5. Fashion for Good

  • Website: fashionforgood.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: fashionforgood

Fashion for Good is a not-for-profit organization based in Amsterdam, Netherlands, founded in 2017. It focuses on sustainable innovation in the fashion industry by connecting innovators with brands, retailers, and manufacturers to facilitate collaboration and drive change towards a regenerative industry. The organization provides support, mentorship, and resources to empower its network in adopting sustainable practices. Notably, Fashion for Good has participated in several significant transactions that reflect its commitment to sustainability. For instance, they were involved in the seed funding of Materra, a company dedicated to climate-resilient cotton production, and Reflaunt, which has raised funds to expand its technology aimed at promoting sustainable fashion practices. These investments highlight Fashion for Good's role in fostering sustainable solutions within the fashion industry.


6. 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. It 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 aims to deliver sustainable value and growth through strategic investments. Notably, CVC has made significant investments in various sectors, including a $200 million stake in EcoVadis, a provider of sustainability ratings for supply chains, which underscores its commitment to sustainability. Additionally, CVC's acquisition of a majority stake in DIF Capital Partners enhances its infrastructure platform, which can also contribute to sustainable development. These transactions reflect CVC's engagement in sectors that can promote social responsibility and sustainability.


7. Triodos Bank

  • Website: triodos.com
  • Type: Venture Capital
  • Headquarters: Driebergen-Rijsenburg, Utrecht, Netherlands
  • Founded year: 1980
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: triodos-bank

Triodos Bank N.V., founded in 1980 and based in Driebergen-Rijsenburg, Utrecht, Netherlands, operates as an ethical bank dedicated to sustainable finance. The bank offers a range of services including depository receipts, green bonds, and investment management, catering to individuals and businesses that seek to align their financial activities with ethical and sustainable practices. Triodos Bank has been actively involved in various transactions that reflect its commitment to socially responsible investing. For instance, it participated in the funding of La Bolsa Social, which raised $758,627 in December 2023, a platform that connects social entrepreneurs with investors. Additionally, it has invested in bettervest GmbH, a company that promotes crowd-investing for energy efficiency projects, and Aavishkaar Venture Capital, which focuses on funding businesses that address social issues in emerging markets. These transactions highlight Triodos Bank's dedication to fostering positive social and environmental impacts through its investment activities.


8. EIT Food

  • Website: eitfood.eu
  • Type: Corporate
  • Headquarters: Leuven, Flanders, Belgium
  • Founded year: 2016
  • Headcount: 51-200
  • Number of deals in 2024: 37
  • LinkedIn: eit-food

EIT Food is a not-for-profit organization based in Leuven, Flanders, Belgium, founded in 2016. It focuses on transforming the food system through innovation, education, and entrepreneurship. EIT Food supports agrifood startups and entrepreneurs by providing resources, funding opportunities, and educational programs aimed at creating healthier and sustainable food solutions. Their initiatives engage various stakeholders, including businesses and the public, to foster collaboration and drive change in the food sector. In 2024, EIT Food has been actively involved in funding various projects through grants, such as Clean Food Group, which raised $324,464, and Rebread, which secured $26,969. Other notable transactions include Feltwood, which received $464,926, and Esencia Foods, which raised $54,118. These transactions highlight EIT Food's commitment to supporting innovative solutions in the agrifood sector, reinforcing their alignment with socially responsible investing principles.


9. ABN AMRO Clearing Bank

  • Website: abnamro.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1982
  • Headcount: 501-1000
  • Number of deals in 2024: 19
  • LinkedIn: abn-amro-clearing-bank-n-v-

ABN AMRO Clearing Bank, founded in 1982 and based in Amsterdam, North Holland, is a banking institution that provides a range of financial services including personal banking, business banking, and investment management. The bank serves individual consumers and businesses, helping them manage their financial needs and investments while ensuring compliance with financial regulations. In recent years, ABN AMRO has been involved in several significant transactions that highlight its commitment to socially responsible investing. Notably, the bank participated in debt financing for Low Carbon, which raised approximately $387 million in May 2023, and for Mainstream Renewable Power, which raised over $122 million in October 2019. Additionally, ABN AMRO's involvement in financing BNZ Energy, which raised over $740 million in October 2024, further underscores its engagement in the renewable energy sector. These transactions position ABN AMRO as a proactive player in the socially responsible investing landscape, particularly in the context of sustainable energy.


10. Invest-NL

  • Website: invest-nl.nl
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2020
  • Headcount: 51-200
  • Number of deals in 2024: 17
  • LinkedIn: invest-nl

Invest-NL is an impact investment firm based in Amsterdam, founded in 2020, that focuses on financing sustainable and innovative projects in the Netherlands. With a team of 51-200 employees, they mobilize capital from various sources to support entrepreneurs with promising plans for societal transitions, particularly in the energy and technology sectors. In 2023, Invest-NL invested €20 million in Fairphone, a company dedicated to creating sustainable smartphones, which aims to enhance brand positioning and integrate fair and recycled materials into its products. Additionally, they participated in a funding round for Lightyear, a Dutch solar electric vehicle startup, contributing to the development of solar cars. Their investment in BYBORRE, a textile innovation studio, further illustrates their commitment to sustainability by supporting innovative textile solutions. Overall, Invest-NL's focus on impactful investments positions them as a key player in the socially responsible investing landscape.


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 startup accelerator and investment firm based in Amsterdam, Netherlands, founded in 2011. The firm specializes in supporting early-stage founders across various sectors, including AgriFood, Energy, and Emerging Technology. Rockstart provides not only investment but also mentorship and networking opportunities to help startups scale and succeed. Their business model emphasizes empowering purpose-driven entrepreneurs to drive positive change in society. Notably, Rockstart has been involved in several transactions that reflect their commitment to socially responsible investing. For instance, they led a €565K Seed round for Clairify, an indoor air quality startup, which aims to improve health and well-being through better air quality. Additionally, they participated in funding rounds for Contribe.io, which raised over $1 million in 2024, indicating a focus on innovative solutions that may have social benefits. Overall, Rockstart's investment strategy and the nature of their portfolio companies align well with the goals of socially responsible investing.


12. Aqua-Spark

  • Website: aqua-spark.nl
  • Type: Venture Capital
  • Headquarters: Utrecht, Utrecht, Netherlands
  • Founded year: 2013
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: aquaspark

Aqua-Spark is a venture capital holding company based in Utrecht, Netherlands, founded in 2013. The firm is dedicated to investing in innovative solutions for the aquaculture industry, focusing on sustainable practices and improving production efficiency. Aqua-Spark collaborates with a global community of investors to tackle environmental challenges through research and development. Notable transactions include leading a $12.6 million Series A funding round for Shiok Meats, which aims to produce cell-based shrimp, and a $2.5 million investment in Matorka, an Icelandic Arctic char producer, to support its expansion and construction of a new site. Other investments include Hatch Blue Ltd, Indian Ocean Trepang, and Chicoa Fish Farm, all of which contribute to sustainable aquaculture practices.


13. EDFI ElectriFI - The Electrification Financing Initiative


EDFI ElectriFI - The Electrification Financing Initiative is a not-for-profit impact investment facility based in Belgium, founded in 2016. The organization is dedicated to financing renewable energy projects in developing countries, with a particular focus on improving access to clean energy in rural and underserved areas. ElectriFI provides a combination of equity and debt financing, along with technical assistance, to help renewable energy companies and projects achieve sustainable energy solutions. Notable transactions include investments in Nithio Holdings, which is involved in energy access solutions, and Empower New Energy, which raised $3.2 million in a venture round to support its renewable energy initiatives. Additionally, ElectriFI has supported Nuru through multiple convertible note transactions, further emphasizing its commitment to financing impactful energy projects. Through these efforts, ElectriFI plays a significant role in promoting sustainable development and social responsibility in the energy sector.


14. Rubio Impact Ventures


Rubio Impact Ventures is a venture capital firm based in Amsterdam, Netherlands, founded in 2014. The firm specializes in impact investing, providing growth capital and strategic support to entrepreneurs who are focused on addressing significant social and environmental challenges. Their investment areas include clean energy, mental health, and education, emphasizing collaboration and partnership with their portfolio companies. Notable transactions include their investments in Wakuli, a Dutch ethical coffee brand, which received funding to innovate products and expand its distribution network, and NoPalm-Ingredients, which raised significant capital to promote sustainable practices. In 2024 alone, Rubio Impact Ventures has been involved in 13 investments, showcasing their active role in the impact investing space.


15. Astanor

  • Website: astanor.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: astanor-venture

Astanor is an impact investment firm based in Luxembourg, founded in 2017, that specializes in the agrifood tech sector. The firm is dedicated to supporting innovative companies that strive to create sustainable food systems through strategic guidance and investment. Astanor's portfolio includes notable transactions such as MiiMOSA, which raised significant funding to enhance sustainable agriculture practices, and Modern Meadow, a bio-based materials developer that secured $130 million in Series C funding, showcasing Astanor's involvement in sustainable innovation. Additionally, Astanor has invested in Switch Bioworks, a startup focused on developing sustainable biofertilizers, further emphasizing their commitment to environmentally responsible investments. Their expertise in driving growth and sustainability makes them a valuable partner for agrifood tech businesses and investors looking to make a positive impact.



Socially Responsible Investing Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
BIO - the Belgian Investment Company for Developing CountriesBrussels, Brussels, Belgium51-20020014
InnoEnergyEindhoven, North Brabant, Netherlands201-500201052
Fashion for GoodAmsterdam, North Holland, Netherlands11-5020173
CvcLuxembourg1001-5000200516
Triodos BankDriebergen-Rijsenburg, Utrecht, Netherlands1001-500019802
EIT FoodLeuven, Flanders, Belgium51-200201637
ABN AMRO Clearing BankAmsterdam, North Holland, Netherlands501-1000198219
Invest-NLAmsterdam, North Holland, Netherlands51-200202017
RockstartAmsterdam, North Holland, Netherlands11-50201116
Aqua-SparkUtrecht, Utrecht, Netherlands11-5020132
EDFI ElectriFI - The Electrification Financing InitiativeBelgium11-5020162
Rubio Impact VenturesAmsterdam, North Holland, Netherlands1-10201413
AstanorLuxembourg11-50201710


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