The international development industry in Benelux is a vibrant arena focused on improving economic prosperity in developing countries. Companies in this sector range from banks and investment firms to NGOs and impact funds that provide both capital and expertise. Their offerings include loans, equity investment, and advisory services, aimed at fostering sustainable growth. A key trend in the industry is a stronger emphasis on environmental and social governance, aligning investments with broader development goals. This focus is driving innovative finance solutions, such as renewable energy projects, to create lasting improvements in underserved communities internationally.


Our list features a mix of corporate investors, private equity firms, and venture capitalists headquartered across Benelux. Companies such as the European Investment Bank and BIO, differing in size and impact strategy, have been active in shaping the development landscape. Founded from 1958 to 2018, these investors collectively participated in over a hundred deals in 2024 alone, highlighting their crucial role in financing projects across a variety of sectors, including energy, education, and agriculture.


Top 16 International Development Investors in Benelux


1. 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, catering to both public and private organizations seeking funding for initiatives that promote growth and job creation. In recent years, the EIB has been involved in several notable transactions relevant to international development, such as providing $10 million in junior debt for Spark Energy Services, which aims to enhance energy access. Additionally, the EIB participated in significant debt financing for the Africa Finance Corporation, raising $750 million, and for the ECOWAS Bank for Investment and Development, which raised over $103 million. These transactions highlight the EIB's role in facilitating financial support for development projects, particularly in Africa, thereby reinforcing its position as a key player in the international development landscape.


2. BIO - the Belgian Investment Company for Developing Countries


BIO - the Belgian Investment Company for Developing Countries is a not-for-profit organization established in 2001, based in Brussels, Belgium. Its primary mission is to provide investment support and development financing to private sector companies in developing countries, thereby facilitating access to growth and sustainable development resources. BIO aims to empower these businesses to thrive and contribute positively to their local economies. Notable transactions include a debt financing of approximately $11.4 million for Pact in May 2020, and several investments in BIM, totaling over $10 million in 2020 through both debt financing and venture rounds. Additionally, BIO has engaged with the EDFI Management Company, providing significant debt financing, which further illustrates its commitment to fostering development in emerging markets.


3. Oikocredit

  • Website: oikocredit.coop
  • Type: Corporate
  • Headquarters: Amersfoort, Utrecht, Netherlands
  • Founded year: 1975
  • Headcount: 201-500
  • Number of deals in 2024: 12
  • LinkedIn: oikocredit

Oikocredit is a not-for-profit social investment organization based in Amersfoort, Netherlands, founded in 1975. It focuses on providing financial support to organizations in the financial inclusion, agriculture, and renewable energy sectors. Oikocredit aims to enhance the social impact of its partners, particularly those serving low-income communities. In recent years, Oikocredit has been involved in several significant transactions that align with international development objectives. For instance, they provided €1.5 million to Enko Education to support the development of accessible international schools in sub-Saharan Africa. Additionally, Oikocredit participated in a $20 million equity funding round for SEWA Affiliate Sitara, which aims to empower women in India. They also invested $1.5 million in Ed Partners to improve access to quality education in Kenya, focusing on integrating technology into learning. Furthermore, Oikocredit was part of an $8.5 million Series B funding round for Good Nature Agro, which supports sustainable agricultural practices. These transactions highlight Oikocredit's commitment to fostering social and economic development in underserved regions.


4. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship in 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 also provides business acceleration services, networking opportunities, and prizes to foster innovation across different sectors. In 2024, the EIC was involved in several significant transactions, including grants to institutions like the National University of Ireland, Maynooth, and King's College London, which raised over $4 million each. Additionally, the EIC played a crucial role in funding Hardt Hyperloop, a Dutch startup focused on developing the European Hyperloop Centre, securing over €12 million in funding. These transactions highlight the EIC's commitment to supporting innovative projects that can contribute to broader development goals.


5. 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. It 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 support renewable energy companies and projects. Notable transactions include a $20.5 million investment in WeLight, which aims to enhance electricity access in Madagascar, and a $3.2 million venture round for Empower New Energy. These investments highlight ElectriFI's commitment to sustainable energy solutions and its role in facilitating electrification projects that contribute to international development goals.


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 investment firm founded in 2005, based in Luxembourg, 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 strides in sectors relevant to international development. For instance, their acquisition of a 30% stake in GEMS Education, valued at around $1 billion, marks a substantial investment in the education sector, which is vital for social development. Furthermore, their recent acquisition of a majority stake in DIF Capital Partners for €1 billion enhances their infrastructure investment portfolio, a key area for fostering economic growth and development. These transactions reflect CVC's engagement in sectors that can contribute positively to international development objectives.


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. is a public entity operating as an ethical bank focused on sustainable finance, founded in 1980 and based in Driebergen-Rijsenburg, Utrecht, Netherlands. The bank offers services such as depository receipts, green bonds, and investment management, catering to individuals and businesses seeking to align their financial activities with ethical and sustainable practices. Triodos Bank operates in multiple European countries, promoting transparency and positive impact in the banking sector. Notably, Triodos Bank has been involved in several transactions that highlight its commitment to international development. For instance, it participated in a funding round for WeLight, a Madagascar-based electricity access provider, contributing to a €28 million electrification project aimed at improving energy access in the region. Additionally, Triodos Bank extended a significant loan to Gamma Solutions SL to finance solar plants in the UK, showcasing its focus on renewable energy projects. These investments reflect Triodos Bank's dedication to supporting sustainable development initiatives globally.


8. Agri-Business Capital (ABC) Fund


The Agri-Business Capital (ABC) Fund, established in 2019 and based in Luxembourg, is an impact fund dedicated to enhancing the livelihoods of smallholder farmers and agribusiness SMEs in developing countries. With a focus on providing both debt and equity financing, the fund also offers technical assistance to improve agricultural productivity and access to financial services. Notable transactions include a $970,000 debt financing for ECOOKIM, aimed at supporting cocoa farmers, and a $2,082,749 debt financing for the Grace and Mercy Household Improvement Initiative, which focuses on improving living conditions for rural households. Additionally, the fund has engaged in various financing rounds for agribusinesses like JKCC General Supplies, further solidifying its role in promoting economic opportunities in rural areas, particularly for women and youth.


9. 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, primarily targeting entrepreneurial companies seeking capital and expertise to navigate market challenges. Notably, Gimv led a €72 million Series A funding round for Complement Therapeutics, which focuses on gene therapy for geographic atrophy, showcasing their commitment to healthcare innovation. Additionally, their acquisition of Impact and Mackevision Medien Design highlights their diverse investment strategy, which includes companies that may contribute to sustainable development goals.


10. Brussels and the European Union


The Brussels and the European Union is a public entity that serves as a political and economic union of member states, providing legislative services, funding for regional development, and support for educational and research initiatives. In recent years, the EU has been involved in several significant transactions relevant to international development. For instance, they provided funding to the International Cocoa Organization (ICCO) to tackle cadmium contamination in cocoa beans in Latin America and the Caribbean, contributing €60,000 to a project costing $551,000. Additionally, the EU has allocated over 10 million euros within the Horizon Europe framework to support various projects aimed at addressing global challenges and enhancing industrial competitiveness. Another notable initiative is the Qu-Pilot project, where the EU granted 19 million euros to upgrade micro, nano, and quantum technology infrastructures across Europe, involving multiple member organizations. These transactions highlight the EU's role in fostering international development through targeted funding and support for innovative projects.


11. Bamboo Capital Partners

  • Website: bamboocp.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: bamboo-finance

Bamboo Capital Partners is an impact investment firm based in Luxembourg, founded in 2007. The firm specializes in providing innovative financing solutions to businesses in emerging markets, with a strong emphasis on sectors that promote social and economic development. Their investment strategy focuses on financial inclusion, clean energy, healthcare, and agribusiness, aiming to enhance the lives of marginalized communities while achieving financial returns. Notable transactions include their investments in Accion, which is dedicated to expanding financial services to underserved populations, and Vitas Group, which provides microfinance solutions to low-income individuals. These investments reflect Bamboo's commitment to fostering sustainable development and improving access to essential services in developing regions.


12. Triodos Investment Management


Triodos Investment Management is an impact investment firm based in Driebergen-Rijsenburg, Utrecht, Netherlands, founded in 1994. The firm focuses on generating social and environmental impact alongside financial returns, offering a range of investment strategies across various themes, including energy, climate, and sustainable agriculture. Triodos Investment Management targets professional and institutional investors who seek to align their investments with positive change. Notably, they have participated in significant transactions relevant to international development, such as their investment in FINCA Microfinance Holding Company LLC, which aims to transform financial services for the working poor. Additionally, they financed solar energy projects through Gamma Solutions SL, contributing to sustainable energy solutions. These activities highlight their commitment to fostering development through impactful investments.


13. DOB Equity

  • Website: dobequity.nl
  • Type: Private Equity
  • Headquarters: Veessen, Gelderland, Netherlands
  • Founded year: 1997
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: dob-foundation

DOB Equity is an impact investment fund based in Veessen, Gelderland, Netherlands, founded in 1997. The firm focuses on supporting innovative and scalable companies in Eastern Africa, aiming to create social impact while ensuring long-term profitability for its portfolio companies. By providing funding and expertise, DOB Equity helps entrepreneurs navigate challenges and contribute positively to their communities. Notable transactions include an investment in Bridge International Academies, which raised an undisclosed amount in 2009 to enhance educational access, and a $4 million investment in Africa Logistic Properties in 2017, aimed at improving logistics infrastructure in the region. These investments reflect DOB Equity's commitment to fostering economic development and social progress in Eastern Africa.


14. EDFI Management Company

  • Website: edfimc.eu
  • Type: Corporate
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: edfi-management-company

EDFI Management Company, based in Brussels, Belgium, is a not-for-profit organization founded in 2016. It specializes in providing financial services aimed at empowering entrepreneurship in developing countries. The company focuses on investments in renewable energy and agriculture, offering tailored financial solutions to European Development Financial Institutions and private sector companies. Their mission is to facilitate sustainable development through impactful investments and support. In 2024, EDFI Management Company participated in a significant debt financing transaction for Hydrobox, raising $9 million, which underscores their commitment to supporting innovative solutions in the renewable energy sector. Additionally, in 2023, they were involved in a $3 million debt financing for Good Nature Agro, a company that promotes sustainable agricultural practices. These transactions highlight EDFI's active role in fostering development through financial support in key sectors.


15. Arcadis

  • Website: arcadis.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1888
  • Headcount: 10001+
  • LinkedIn: arcadis

Arcadis NV is a corporate consulting firm based in Amsterdam, Netherlands, founded in 1888. With over 10,000 employees, Arcadis specializes in design, engineering, and management services, focusing on enhancing urban sustainability and quality of life. The firm works with both government and private sector clients, providing expertise in infrastructure, environmental management, and urban planning. A notable transaction that highlights their commitment to international development is the acquisition of a 70% stake in Water Platform Company, which owns HydroNET, a software platform designed to assist water managers globally in tackling climate change challenges. This acquisition reflects Arcadis's dedication to sustainable development and their role in addressing critical global issues.


16. LUMO Labs

  • Website: lumolabs.io
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: lumo-labs

LUMO Labs is a venture capital firm based in Eindhoven, North Brabant, Netherlands, founded in 2016. The firm specializes in impact-driven investments in emerging technologies, providing funding and tailored support programs to early-stage startups that address social and environmental challenges. LUMO Labs has been actively involved in several transactions that reflect their commitment to innovation and social impact. Notably, they participated in the funding rounds for FruitPunch AI, a startup focused on developing a platform for sustainable partnerships, raising €500k in 2023 and $614,925 in 2021. Additionally, they invested in Enliven, which raised €1 million to expand its reach in XR-based empathy training. These investments highlight LUMO Labs' focus on fostering technology that can contribute positively to society, making them a relevant player in the international development sector.



International Development Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
BIO - the Belgian Investment Company for Developing CountriesBrussels, Brussels, Belgium51-20020014
OikocreditAmersfoort, Utrecht, Netherlands201-500197512
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
EDFI ElectriFI - The Electrification Financing InitiativeBelgium11-5020162
CvcLuxembourg1001-5000200516
Triodos BankDriebergen-Rijsenburg, Utrecht, Netherlands1001-500019802
Agri-Business Capital (ABC) FundLuxembourg11-5020191
GimvAntwerp, Flanders, Belgium51-20019808
Brussels and the European UnionBrussels, Brussels, Belgium1-100
Bamboo Capital PartnersLuxembourg11-5020071
Triodos Investment ManagementDriebergen-Rijsenburg, Utrecht, Netherlands201-50019946
DOB EquityVeessen, Gelderland, Netherlands1-1019971
EDFI Management CompanyBrussels, Brussels, Belgium11-5020161
ArcadisAmsterdam, North Holland, Netherlands10001+18880
LUMO LabsEindhoven, North Brabant, Netherlands11-5020165


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