The cardiovascular device industry in Benelux focuses on creating innovative solutions for heart and vascular-related health challenges. A mix of startups, established firms, and research organizations operate in this landscape, offering devices like stents, pacemakers, and advanced diagnostic tools. The trend is shifting towards integrating technology with patient-centered care, emphasizing the need for smarter, more effective products. Noteworthy advancements in minimally invasive techniques and digital health solutions are paving the way for better patient outcomes. As the demand for cardiovascular care continues to soar, the industry is poised for rapid evolution, fueled by both innovation and increased healthcare investments.


This list highlights 17 prominent investors in the cardiovascular device sector, representing venture capital firms and corporate investors, primarily based in Benelux. These investors vary in size, with some managing smaller portfolios while others oversee billions in assets. Established between 1980 and 2014, the firms reflect a robust commitment to healthcare innovation, collectively participating in an impressive 252 deals in 2024. From the likes of Gilde Healthcare in Utrecht to Forbion in North Holland, their engagement underscores the importance of strategic funding in driving the development of lifesaving cardiovascular technologies.


Top 17 Cardiovascular Device 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 also provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in significant transactions within the cardiovascular device industry, such as providing blended funding of up to €17.5 million to CARMAT, which includes a non-dilutive grant and potential equity financing. Additionally, the EIC Fund participated in Corwave's funding rounds, including a €35 million Series C round, highlighting its active role in supporting cardiovascular device innovation.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services aimed at supporting sustainable projects across various sectors. In recent years, the EIB has been involved in several notable transactions within the cardiovascular device industry, such as providing debt financing to CARMAT, which raised over $34 million, and Xeltis, which secured approximately $16.9 million. Additionally, the EIB supported Robocath with around $17 million, Protembis with over $21.6 million, and Vivasure Medical with about $10.9 million. These investments highlight the EIB's role in fostering innovation and growth in the cardiovascular sector, making it a significant player in this field.


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, connecting investors with innovative healthcare companies. LSP focuses on drug development and medical technology, aiming to foster advancements that address unmet medical needs. Notably, LSP has invested in Cardiac Dimensions, participating in both Series A and Series C funding rounds, which support the commercialization of the Carillon Mitral Contour System, a device aimed at treating mitral valve disease. Additionally, LSP has invested in BMEYE, a company that has raised funds through multiple financing rounds, contributing to the development of medical technologies relevant to cardiovascular care. These transactions highlight LSP's active role in the cardiovascular device industry.


4. 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 focuses on innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Among its notable transactions, Gilde Healthcare has invested in CVRx, which raised significant funding to develop therapies for heart failure, and Ablative Solutions, which is advancing renal denervation technology for hypertension treatment. These investments highlight Gilde's commitment to supporting advancements in cardiovascular health technologies, making it a key player in the cardiovascular device industry.


5. 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, based in Naarden, North Holland, Netherlands, specializing in the life sciences and bioeconomy sectors. The firm provides investment management and support to biotech companies, helping them develop innovative therapies and technologies. Forbion collaborates with entrepreneurs and academic institutions to address unmet medical needs and improve patient outcomes. Among their notable transactions, Forbion participated in the funding rounds for Milestone Pharmaceuticals, which raised significant capital for developing etripamil, a treatment for paroxysmal supraventricular tachycardia, a cardiovascular condition. They also invested in Autonomic Technologies, which raised funds for neuromodulation therapies that may have implications in cardiovascular treatments. These investments highlight Forbion's engagement in the cardiovascular device and treatment landscape.


6. 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 cardiovascular device space, particularly with JenaValve Technology. They participated in multiple funding rounds for JenaValve, including a $100 million Series C financing in 2022, and earlier rounds in 2013, 2014, and 2020, all aimed at supporting the development and regulatory approval of TAVI systems. This focus on cardiovascular devices highlights Gimv's active role in the healthcare sector, particularly in innovative medical technologies.


7. Brabantse Ontwikkelings Maatschappij (BOM)


Brabantse Ontwikkelings Maatschappij (BOM) is a venture capital firm based in Tilburg, North Brabant, Netherlands, founded in 1983. BOM acts as a development agency that supports startups and scale-ups in the Brabant region by providing funding, expertise, and networking opportunities to enhance business growth. Among their notable transactions, BOM participated in a seed investment round for STENTiT, a MedTech company that is developing a regenerative stent for peripheral indications, raising €1.8 million in April 2022. Additionally, BOM was involved in the Series A funding round for VIVOLTA, which focuses on enhancing client-centric services and production capabilities, although this is less directly related to cardiovascular devices. Their investment in STENTiT highlights BOM's active role in the cardiovascular device industry, showcasing their commitment to supporting innovative medical technologies.


8. 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, with a focus on sectors such as biotech and sustainable development. Noshaq aims to foster growth and innovation by actively engaging with its clients and offering tailored financial assistance. Notably, Noshaq has been involved in significant transactions within the cardiovascular device industry, including investments in Intressa Vascular, a clinical-stage MedTech company, and multiple funding rounds for Miracor Medical, which develops advanced cardiovascular technologies. In 2024, they participated in a Series B funding round for CryoTherapeutics, further emphasizing their active role in the cardiovascular device sector.


9. NLC - The European Healthtech Venture Builder

  • Website: nlc.health
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: nlc-next-level-challenge

NLC - The European Healthtech Venture Builder is a corporate investor based in Amsterdam, Netherlands, founded in 2014. They specialize in developing medical technology solutions, particularly in neonatal care. Their investment strategy emphasizes collaboration with healthcare providers and investors to foster innovation in the healthcare sector. Notably, they have been involved in several transactions, including Venous Stent BV, which raised funds in a Pre-Seed round in 2019, indicating their engagement in the cardiovascular device space. Additionally, they have invested in Kaminari Medical, which raised funds in both Pre-Seed and Venture rounds, although the specific focus of Kaminari Medical is not detailed in the provided information. Overall, NLC's diverse investment portfolio, including a clear connection to cardiovascular devices, showcases their role as a venture builder in the healthtech landscape.


10. 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. In the healthcare sector, Exor has been involved in several notable transactions relevant to medical devices. For instance, it participated in the funding of CorVent Medical, which raised $4.5 million to develop next-generation lifesaving devices. Additionally, Exor Ventures led a funding round for Sava, a company specializing in wearable biosensor technology, which raised $8 million. These investments highlight Exor's commitment to supporting innovative healthcare solutions, including those that may impact cardiovascular health.


11. 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 that acts as an investment company for the Flemish government, founded in 2001. It provides a range of financing solutions, including loans and co-financing, to startups, scale-ups, and established businesses across various sectors such as real estate, clean tech, and life sciences. PMV has been involved in several notable transactions in the cardiovascular device space, including a €6M Series B funding round for FEops, a company specializing in personalized computer modeling for structural heart interventions, and participation in the funding rounds for Pulsify Medical, which is focused on developing innovative medical devices. These transactions highlight PMV's commitment to supporting advancements in the cardiovascular device industry while also offering consulting services to help businesses navigate investment challenges and achieve sustainable growth.


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, specializing in healthcare investments. Founded in 2006, the firm focuses on supporting innovative healthcare ventures from start-up to scale-up, providing funding and strategic guidance to companies in the biotech and medtech sectors. Notably, Thuja Capital has participated in several relevant transactions, including a €14 million Series A financing round for Gradient Denervation Technologies, which is developing an ultrasound-based catheter device aimed at clinical applications in cardiovascular health. Additionally, they have been involved in funding rounds for ATRO Medical, which is also engaged in medical device development, further showcasing their commitment to the medtech field.


13. 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. Among their notable transactions, CVC has invested in Spectrum Medical, a medical device company valued at up to £1 billion, and acquired Therakos for $925 million, both of which are significant players in the medical device landscape. These investments highlight CVC's engagement in the healthcare sector, particularly in technologies that may impact cardiovascular health, thereby reinforcing their relevance in the cardiovascular device market.


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. In 2024, they have made 8 investments, including significant transactions in the cardiovascular space. Notably, they invested in inHEART, which secured $11M to enhance its cardiac ablation solutions and predictive cardiac models, indicating a strong commitment to advancing cardiovascular technologies. Additionally, their investments in OMEICOS Therapeutics, which develops treatments for atrial fibrillation, highlight their focus on addressing cardiovascular conditions. These transactions illustrate Vesalius Biocapital's active role in supporting innovations that directly impact cardiovascular health.


15. 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 in the nutrition, health, and beauty sectors. The company offers a diverse range of products, including fragrances, nutritional supplements, and active pharmaceutical ingredients, serving various industries with innovative solutions. As a venture capital investor, dsm-firmenich has participated in several funding rounds for companies in the cardiovascular device space. Notably, they were involved in the Series A funding for Miach Orthopaedics, which raised nearly $23 million to support the BEAR® Implant, a device relevant to orthopedic and potentially cardiovascular applications. Additionally, dsm-firmenich participated in funding rounds for ATRO Medical, which is focused on clinical studies related to cardiovascular devices. These transactions highlight dsm-firmenich's engagement in the healthcare sector, particularly in areas that intersect with cardiovascular health.


16. 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. Capricorn Partners is committed to responsible investing, aiming to create both financial returns and strategic value for its clients. Notably, they have invested in FEops, a Belgium-based developer of personalized computer modeling for structural heart interventions, participating in both Series A and Series B funding rounds to support the commercialization of their TAVIguide service and accelerate their product roadmap for transcatheter valve therapies. Additionally, they have invested in Sequana Medical, which raised funds to expand its alfapump technology, a fully implantable system that addresses fluid management, relevant to cardiovascular health. These transactions highlight Capricorn Partners' active role in the cardiovascular device industry.


17. 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. They provide capital, strategic guidance, and governance to management teams across various sectors, including healthcare, technology, and business services. Notably, Astorg has been involved in significant transactions such as the acquisition of Demetra, an Italian manufacturer of surgical devices, which may relate to cardiovascular applications. Additionally, their acquisition of Cook Medical's Reproductive Health Portfolio and their investment in companies like Clario and Echosens further demonstrate their active engagement in the healthcare sector, which could include cardiovascular devices.



Cardiovascular Device 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
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
ForbionNaarden, North Holland, Netherlands11-50200623
GimvAntwerp, Flanders, Belgium51-20019808
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
NoshaqBelgium11-50198511
NLC - The European Healthtech Venture BuilderAmsterdam, North Holland, Netherlands51-20020146
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
PmvBrussels, Brussels, Belgium51-200200111
Thuja CapitalUtrecht, Utrecht, Netherlands1-1020063
CvcLuxembourg1001-5000200516
Vesalius Biocapital ArkivWoluwe-Saint-Pierre, Brussels, Belgium1-1020078
dsm-firmenichMaastricht, Limburg, Netherlands10001+3
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
AstorgLuxembourg51-20019988


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