The physical therapy and rehabilitation industry in Benelux focuses on restoring functionality and improving patient wellness following injuries or surgeries. This sector includes clinics, technology firms, and innovative startups developing therapies, devices, and software solutions. Companies specialize in areas like musculoskeletal disorders, neurological rehabilitation, and sports therapy. Recent trends show a rise in telehealth services and robotic assistance technologies, reflecting a growing demand for accessible and efficient therapies. The industry's future is set to integrate more technology, with an emphasis on personalized treatment plans and improved patient outcomes driven by data and innovation.


The list of investors in Benelux reflects a mix of venture capital, private equity, and corporate entities, concentrated in key metropolitan areas like Amsterdam and Brussels. Spanning various sizes—from boutique firms to large institutions—their founding years range from 1958 to 2017, revealing long-established players alongside new innovators. In 2024 alone, these investors completed a notable number of deals, indicating robust engagement in the market. Their focus on supporting healthcare innovations shows a collective commitment to enhancing physical therapy and rehabilitation efforts across the region.


Top 17 Physical Therapy and Rehabilitation 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 promote innovation. Notably, the EIC has been involved in funding relevant projects in the physical therapy and rehabilitation space, such as Reactive Robotics, which raised over $2.6 million to develop robotic assistance for early mobilization of intensive care patients. Additionally, the EIC has provided grants to companies like NC Biomatrix and Hy2Care, which may also contribute to advancements in healthcare and rehabilitation technologies. These transactions highlight the EIC's commitment to supporting innovations that can impact the physical therapy and rehabilitation industry.


2. 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, specializing in private equity investments within the healthcare sector. Founded in 1987, LSP connects investors with innovative healthcare companies, focusing on drug development and medical technology. Notably, LSP has participated in significant funding rounds for companies like Rotation Medical, which develops a rotator cuff repair system, and Simplify Medical, which is involved in spinal disc technology. These investments highlight LSP's commitment to fostering advancements in healthcare that address unmet medical needs, particularly in areas that intersect with physical therapy and rehabilitation. Their active role in financing medical devices that support rehabilitation practices positions them as a relevant investor in this field.


3. 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 their notable transactions, Gilde Healthcare invested in Fysius Rugexperts, which raised funds in 2011, indicating their engagement in physical therapy services. More recently, they co-led a funding round for Mainstay Medical, which raised $125 million to commercialize the ReActiv8 system, a device aimed at treating chronic pain and enhancing rehabilitation outcomes. This involvement highlights Gilde Healthcare's commitment to supporting advancements in physical therapy and rehabilitation technologies. Additionally, their investment in Axonics Modulation Technologies, which focuses on neuromodulation therapies, further aligns with rehabilitation efforts. Overall, Gilde Healthcare's diverse portfolio and specific investments in relevant companies position them as a significant player in the physical therapy and rehabilitation sector.


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. It 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 addressing unmet medical needs and improving patient outcomes. Notably, Forbion has been involved in significant transactions such as Dyne Therapeutics, which raised funds to advance oligonucleotide therapeutics for serious muscle diseases, highlighting their interest in therapies that may impact physical rehabilitation. Additionally, their investment in Acorda Therapeutics, which focuses on therapies for neurological conditions, further emphasizes their engagement in areas relevant to rehabilitation. Their diverse portfolio reflects a commitment to advancing healthcare solutions, including those that support physical therapy and rehabilitation.


5. 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. The EIB aims to support sustainable projects across various sectors, promoting growth and job creation. In recent years, the EIB has been involved in several notable transactions within the physical therapy and rehabilitation space. For instance, in April 2024, the EIB financed Wandercraft, a French medical robotics company, with €25 million to develop their Personal Exoskeleton, enhancing patient access to rehabilitation technologies. Additionally, the EIB participated in a €30 million financing round for Neuromod Devices, which is focused on commercializing a tinnitus treatment device, indicating their commitment to health-related innovations. These transactions highlight the EIB's role in supporting advancements in physical therapy and rehabilitation technologies.


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. The firm 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 has made significant investments in the healthcare sector, notably acquiring a majority interest in MedRisk, LLC for $1.15 billion, a company focused on physical rehabilitation services. This strategic acquisition highlights CVC's commitment to delivering sustainable value and growth in the physical therapy and rehabilitation industry. Additionally, their investment in Siloam International Hospitals further demonstrates their engagement in healthcare, which may include rehabilitation services, reinforcing their relevance in this sector.


7. 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 made significant investments in the healthcare sector, including a €12.5M investment in Equipe Zorgbedrijven, a group of specialized clinics in the Netherlands, aimed at expanding their facilities. They also acquired a majority stake in France Thermes, which may involve rehabilitation services, further demonstrating their commitment to the healthcare industry. Other investments include Almaviva Santé and Eurocept, which are also relevant to healthcare, indicating Gimv's active role in supporting companies that could be involved in physical therapy and rehabilitation services.


8. 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. Notably, Vesalius Biocapital has participated in several significant transactions relevant to the physical therapy and rehabilitation sector. They were involved in multiple funding rounds for Sword Health, a virtual musculoskeletal care provider, which raised a total of $38 million across Series A and B funding rounds. This investment highlights their commitment to supporting advancements in physical therapy. Additionally, they invested in DEARhealth, a health tech startup, which, while not directly focused on physical therapy, contributes to the broader health technology landscape. Their investment strategy emphasizes capital, business optimization, and connections to industry leaders, positioning them as a valuable player in the life sciences investment space.


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, but their investment portfolio includes companies that may have applications in physical therapy and rehabilitation. Notable transactions include Symbio Therapy, which raised funds in 2016 and is likely focused on therapeutic solutions, and NC Biomatrix, which also raised funds in the pre-seed stage. Additionally, Bilihome B.V. raised funds for smart wearable light therapy, which, while primarily for neonatal jaundice, indicates a commitment to innovative health solutions. Their recent investments in SERDA therapeutics and Altach Biomedical further demonstrate their active role in the healthcare sector, potentially including rehabilitation technologies.


10. Brabantse Ontwikkelings Maatschappij (BOM)


Brabantse Ontwikkelings Maatschappij (BOM) is a venture capital firm based in Tilburg, North Brabant, Netherlands, founded in 1983. BOM is dedicated to supporting startups and scale-ups in the Brabant region by providing funding, expertise, and networking opportunities to enhance business growth. In 2024, BOM has made 10 investments, showcasing their active role in fostering innovation. Notably, BOM has invested in Post-ICU, a healthcare startup that aims to improve patient care for those suffering from Post-Intensive Care Syndrome (PICS), indicating their focus on rehabilitation and recovery. Additionally, their investment in STENTiT, which is developing a regenerative stent for peripheral indications, further highlights their engagement in the MedTech sector, which often overlaps with rehabilitation technologies. These transactions reflect BOM's commitment to advancing healthcare solutions, making them a relevant player in the physical therapy and rehabilitation space.


11. Newton Biocapital


Newton Biocapital is a venture capital firm based in Brussels, Belgium, specializing in life sciences. Founded in 2017, the firm focuses on funding and supporting innovative healthcare solutions for chronic health conditions. They primarily invest in early-stage life sciences companies that require capital to develop their products. Notable transactions include leading a $10 million Series A round for Synergia Medical, a developer of neurostimulation devices aimed at treating drug-resistant epilepsy, which could have implications for rehabilitation therapies. They also participated in funding rounds for companies like NeuVasQ Biotechnologies, which raised €20 million, and Cellaion SA, which focuses on acute liver failure, showcasing their commitment to advancing healthcare technologies. Their expertise and connections in the healthcare sector enable them to create value for both patients and investors, potentially extending to the physical therapy and rehabilitation fields.


12. 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 based in Brussels, Belgium, that acts as an investment company for the Flemish government. Founded in 2001, PMV 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 also offers consulting services to help businesses navigate investment challenges and achieve sustainable growth. Notably, PMV has been involved in significant transactions within the healthcare sector, including multiple funding rounds for Augustine Therapeutics, which raised over $84 million in Series A funding in March 2025 and $18 million in June 2024. These investments highlight PMV's engagement in the physical therapy and rehabilitation context, as Augustine Therapeutics focuses on developing innovative therapies that may require rehabilitation support. Additionally, PMV has invested in Neuroventis, which raised funds in the seed round, further indicating its interest in healthcare innovations.


13. 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 venture capital firm based in Maastricht, Limburg, Netherlands, operating primarily in the nutrition, health, and beauty sectors. The firm has a significant presence in the investment landscape, with over 10,000 employees and a diverse portfolio. Notably, dsm-firmenich has made strategic investments in the physical therapy and rehabilitation space, including a co-lead role in a nearly $23 million Series A funding round for Miach Orthopaedics, which is known for its BEAR® Implant aimed at enhancing recovery in orthopedic patients. Additionally, they participated in a financing round for ATRO Medical, which is focused on clinical studies that are crucial for rehabilitation technologies. These transactions highlight dsm-firmenich's engagement in the healthcare sector, particularly in areas that intersect with physical therapy and rehabilitation.


14. 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 primarily to companies in the biotech and medtech sectors. Notably, Thuja Capital has been involved in several significant transactions, including investments in ATRO Medical and Synerkine Pharma. ATRO Medical is engaged in clinical studies that may relate to rehabilitation technologies, while Synerkine Pharma is developing a lead asset aimed at treating complex regional pain syndrome (CRPS), a condition that often requires physical therapy and rehabilitation. These investments highlight Thuja Capital's commitment to advancing healthcare solutions that can impact physical therapy and rehabilitation.


15. Inkef

  • Website: inkef.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: inkef-netherlands-manager

Inkef is a venture capital firm based in Amsterdam, Netherlands, founded in 2010. The firm specializes in early-stage investments in the healthcare and technology sectors, supporting mission-driven entrepreneurs with funding and strategic guidance to scale their businesses. Inkef's focus on long-term value creation and patient investment strategies distinguishes them in the investment landscape. Notably, they have invested in NMD Pharma, which is developing first-in-class small molecule inhibitors aimed at enhancing neuromuscular transmission, a critical area in rehabilitation and physical therapy. Their previous investments also include Audion Therapeutics, which, while not directly related to physical therapy, operates within the healthcare space. Overall, Inkef's commitment to healthcare innovation positions them as a relevant player in the physical therapy and rehabilitation sector.


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 aims to create both financial returns and strategic value for its clients through responsible investing. Notably, they have been involved in significant transactions within the health sector, such as Mainstay Medical, which raised $20 million in Series B funding, and Nexstim, which has received multiple rounds of funding, including a post-IPO equity round. These investments highlight their engagement with companies that develop technologies relevant to physical therapy and rehabilitation, reinforcing their role as a potential investor in this space.


17. Noaber

  • Website: noaber.com
  • Type: Corporate
  • Headquarters: Ede, Gelderland, Netherlands
  • Founded year: 2000
  • Headcount: 11-50
  • LinkedIn: noaber-foundation

Noaber Foundation is a not-for-profit organization based in Ede, Gelderland, Netherlands, founded in 2000. It focuses on driving change and improving health outcomes through various health improvement programs and social initiatives. The foundation collaborates with healthcare organizations and communities to promote healthier lifestyles and enhance social health. Notably, Noaber has participated in several funding rounds for healthtech startups, including Sweetch, which raised $20 million in a Series A round aimed at expanding its behavioral science technology, potentially relevant to rehabilitation practices. Additionally, Noaber invested in Newsenselab, a Berlin-based startup, indicating its interest in innovative health solutions. These transactions reflect Noaber's commitment to supporting initiatives that can lead to improved health outcomes, including those in the physical therapy and rehabilitation sector.



Physical Therapy and Rehabilitation Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Life Sciences Partners (LSP)Amsterdam, North Holland, Netherlands11-50198715
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
ForbionNaarden, North Holland, Netherlands11-50200623
European Investment Bank (EIB)Luxembourg1001-5000195899
CvcLuxembourg1001-5000200516
GimvAntwerp, Flanders, Belgium51-20019808
Vesalius Biocapital ArkivWoluwe-Saint-Pierre, Brussels, Belgium1-1020078
NLC - The European Healthtech Venture BuilderAmsterdam, North Holland, Netherlands51-20020146
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
Newton BiocapitalBrussels, Brussels, Belgium11-5020172
PmvBrussels, Brussels, Belgium51-200200111
dsm-firmenichMaastricht, Limburg, Netherlands10001+3
Thuja CapitalUtrecht, Utrecht, Netherlands1-1020063
InkefAmsterdam, North Holland, Netherlands11-5020104
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
NoaberEde, Gelderland, Netherlands11-5020000


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